OneTrust Company Profile

Background

Overview

Founded in 2016 and headquartered in Atlanta, Georgia, OneTrust is a leading software company specializing in privacy, security, and governance, risk, and compliance (GRC) solutions. The company provides a comprehensive platform designed to assist organizations in managing complex regulatory requirements, thereby fostering trust and transparency.

Mission and Vision

OneTrust's mission is to help companies build and demonstrate trust, measure and manage risk, and go beyond compliance. The company envisions a world where organizations can thrive by integrating trust into their operations and culture, enabling responsible use of data and AI.

Industry Significance

In an era marked by stringent data privacy regulations and heightened consumer awareness, OneTrust plays a pivotal role in enabling organizations to navigate the complexities of global compliance frameworks. By offering a unified platform that addresses privacy, security, and GRC needs, OneTrust empowers businesses to operationalize trust and transparency, thereby enhancing their competitive advantage.

Key Strategic Focus

Core Objectives

OneTrust aims to simplify trust transformation across privacy, security, and ethics, enabling companies to place trust at the center of their operations and culture. The company's strategic focus includes:

• Privacy Automation: Facilitating responsible data use throughout the data lifecycle.

• Third-Party Management: Automating third-party management from intake and risk assessment to mitigation and reporting.

• Data & AI Governance: Governing data and AI while accelerating innovation.

• Tech Risk & Compliance: Scaling resources and optimizing the risk and compliance lifecycle.

Key Technologies Utilized

OneTrust's platform is powered by the OneTrust Athena™ AI and robotic automation engine, which underpins various capabilities, including:

• AI Governance

• Data Discovery & Classification

• Third-Party Risk Management

• Consent and Preference Management

• Integrated Risk Management

• Ethics and Compliance Software

• Environmental, Social & Governance (ESG) Software

These technologies enable organizations to automate and streamline their privacy, security, and compliance programs.

Primary Markets Targeted

OneTrust serves a diverse range of industries, including finance, healthcare, retail, and technology. The company's solutions are designed to assist organizations of all sizes in complying with global data privacy regulations and building trust with their customers.

Financials and Funding

Funding History

Since its inception, OneTrust has secured substantial venture capital funding to fuel its growth and expansion:

• Series A (July 2019): Raised $200 million at a valuation of $1.3 billion, led by Insight Partners.

• Series B (February 2020): Raised $210 million at a valuation of $2.7 billion.

• Series C (December 2020): Raised $300 million at a valuation of $5.1 billion, led by TCV, with participation from Insight Partners and Coatue.

• Series D (July 2023): Raised $150 million at a valuation of $4.5 billion, led by Generation Investment Management, with participation from Sands Capital.

Total Funds Raised

To date, OneTrust has raised over $1 billion in venture capital funding.

Intended Utilization of Capital

The capital raised has been strategically utilized to:

• Expand product offerings and enhance platform capabilities.

• Hire new employees and scale operations.

• Open new offices and strengthen global presence.

• Pursue strategic acquisitions to broaden service offerings.

Pipeline Development

Key Pipeline Candidates

OneTrust continually develops and enhances its suite of products to address evolving market needs. Key areas of focus include:

• AI Governance: Ensuring responsible use of artificial intelligence within organizations.

• Data Discovery & Classification: Automating the identification and categorization of data assets.

• Third-Party Risk Management: Streamlining the assessment and mitigation of risks associated with third-party vendors.

• Consent and Preference Management: Enabling organizations to manage consumer consents and preferences effectively.

Product Development Stages

OneTrust's products are developed through a structured process that includes:

• Research and Development: Identifying market needs and developing innovative solutions.

• Beta Testing: Collaborating with select customers to test and refine new products.

• General Availability: Launching fully developed products to the broader market.

Target Conditions and Timelines

While specific timelines are proprietary, OneTrust is committed to continuous innovation and regularly releases updates and new products to address emerging challenges in privacy, security, and compliance.

Technological Platform and Innovation

Proprietary Technologies

OneTrust's platform is underpinned by several proprietary technologies, including:

• OneTrust Athena™ AI: An AI and robotic automation engine that powers various platform capabilities.

• DataDiscovery™: AI-powered discovery and classification tool for data assets.

• Vendorpedia™: A third-party risk exchange platform facilitating vendor risk assessments.

Significant Scientific Methods

OneTrust employs advanced methodologies such as:

• Machine Learning Algorithms: Enhancing data classification, risk assessment, and compliance monitoring.