OneTrust raises another $150M in round valuation of $4.5B down
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OneTrust has been raising money by the bushel since it was founded in 2016, raising a $200 million Series A in July 2019, a $210 million Series B in February 2020, and a $300 million Series C in December 2020. Those rounds came at valuations of $1.3 billion, $2.7 billion, and $5.1 billion consecutively. The last round came in 2020 and it was a different time when it came to handing out big checks with eye-catching valuations.
Today, the company announced that it raised $150 million on a $4.5 billion valuation, a $500 million shave and haircut for the company, which seems modest given that valuations have slashed in recent years. Today’s $150 million investment brings the total raised to more than $1 billion, according to the company.
Today’s round was led by Generation Investment Management, which is the firm of former Vice President Al Gore, with participation from Sands Capital, an existing investor. OneTrust’s CEO says the company has been running since its last round. “We are delighted that such a well-established company as Generation Investment Management believes in our vision, business strategy and our ability to execute, as evidenced by doubling our ARR to $400 million and achieving our free cash flow milestones since our last funding round,” he told TechCrunch.
OneTrust, as the name implies, helps companies ensure their customers, partners, and vendors can trust them when it comes to compliance, privacy, and governance. “We help companies ensure that they can be trusted and make sure they comply with all privacy, trust and risk laws,” OneTrust president Alan Dabbiere told TechCrunch. at the time of the company’s Series C.
At the time of that last discussion in 2020, the company had 1,500 employees. Today it reaches 2,100. In 2020 it had 7,500 clients. Today, it has more than 14,000. The company was founded in 2016 by former AirWatch employees. VMware bought that company for $1.5 billion in 2014.
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