TrustArc Inc. a provider of privacy management tools, has received a $70 million in Series D funding.
The round was led by private equity firm Bregal Sagemount. Existing investors Accel Partners, Baseline Ventures, DAG Ventures, Icon Ventures and Industry Ventures will retain large stakes in the business.
TrustArc hopes to use the funding to enhance its ability to help firms navigate growing privacy regulations and expand into markets worldwide.
“Companies are increasingly required to serve as fiduciaries of personal information,” states Daniel Kim, founding partner at Bregal Sagemount. ”Their customers, supply chain partners, and vendors are more likely to provide such data to companies that have the policies and software to manage it properly.”