OneTrust, an enterprise software firm that helps businesses comply with GDPR and other privacy regulations, has pulled in $200 million in Series A funding. The round was led by Insight Partners.
Founded in 2016, OneTrust is now valued at $1.3 billion.
The investment will help the firm reach “a new level of scale and support,” states CEO Kabir Barday.
OneTrust’s primary offerings are OneTrust Privacy Management Software, OneTrust PreferenceChoice and OneTrust Vendorpedia.
Insight Partners feels the firm is well-positioned for the growing number of privacy laws.
"New privacy regulations, like the California Consumer Privacy Act and GDPR, are a direct market reaction to consumer demand for improved data privacy protection," adds Richard Wells, managing director at Insight Partners.
Barday adds that the investment “at a timely juncture with just six months before California's CCPA is set to be enforced."
The company has 1,000 employees across eight locations worldwide, and over 3,000 customers in 100 countries, it says.