OneTrust is a global privacy and security software company that helps organizations manage their privacy and security programs. The company’s platform provides a single view of privacy and security risks, and it helps organizations to automate compliance with regulations such as the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA).
OneTrust was founded in 2016 by Kabir Barday. The company is headquartered in Atlanta, Georgia, and it has offices in North America, Europe, and Asia. OneTrust’s 12,000 customers include some of the world’s leading brands, such as Coca-Cola, IBM, and Uber. The company has a valuation of $5.3 billion.
OneTrust’s platform is used by organizations to:
- Manage privacy risks: OneTrust’s platform helps organizations to identify and assess their privacy risks. The platform also provides tools to help organizations to mitigate these risks.
- Automate compliance: OneTrust’s platform helps organizations to automate compliance with regulations such as the GDPR and the CCPA. The platform provides a single view of compliance requirements, and it helps organizations to track their progress towards compliance.
- Build trust: OneTrust’s platform helps organizations to build trust with their customers. The platform provides tools to help organizations to collect and manage consent, and it helps organizations to communicate with their customers about their privacy practices.
OneTrust is a leading provider of privacy and security software. The company’s platform is used by organizations around the world to manage their privacy and security programs. OneTrust is well-positioned to continue to grow in the years to come as the demand for privacy and security software continues to grow.
OneTrust is a powerful tool that can help organizations to manage their privacy and security programs. The platform’s features and benefits make it a valuable asset for organizations of all sizes.
Founding History of OneTrust
OneTrust was founded in 2016 with a vision to empower organizations to navigate the complex landscape of data privacy and security. The founding history of OneTrust showcases the drive of its visionary founder and the company’s rapid growth into a global leader in the privacy technology industry. Let’s delve into the details of OneTrust’s founding history:
OneTrust was founded by Kabir Barday, an entrepreneur with a background in law and technology. Kabir recognized the increasing importance of data privacy and compliance regulations worldwide and sought to provide organizations with a comprehensive solution to address these challenges effectively.
The founding vision of OneTrust was to build a unified and user-friendly platform that would enable organizations to comply with global privacy regulations, protect customer data, and build trust with their stakeholders. The founder understood that data privacy was becoming a critical issue for businesses of all sizes, given the growing number of data breaches and the introduction of stringent privacy laws, such as the EU’s General Data Protection Regulation (GDPR).
OneTrust was officially launched in 2016, and the company wasted no time in making a mark in the privacy technology market. The founder positioned OneTrust as a comprehensive privacy management and compliance platform, combining legal expertise with innovative technology to address the diverse needs of businesses navigating the complex privacy landscape.
In the initial years, OneTrust experienced rapid growth and success. The company’s platform quickly gained recognition for its comprehensive features and user-friendly interface, attracting a diverse clientele from various industries worldwide. As organizations grappled with the implications of GDPR and other privacy regulations, OneTrust emerged as a go-to solution to simplify compliance efforts.
In its pursuit of continuous innovation and expansion, OneTrust made strategic acquisitions to enhance its platform’s capabilities. The company acquired several complementary privacy and security technology companies, integrating their offerings to provide an even more robust and comprehensive privacy management solution.
With headquarters in Atlanta, Georgia, OneTrust rapidly expanded its presence to other regions worldwide. The company established offices in various locations, including London, Bangalore, and Sydney, to cater to its growing international customer base effectively.
In conclusion, OneTrust’s founding history reflects the vision of its entrepreneurial founder, Kabir Barday, and the company’s dedication to providing businesses with effective privacy management and compliance solutions. With its comprehensive platform, strategic acquisitions, and global expansion, OneTrust has firmly established itself as a leader in the privacy technology industry, empowering organizations to protect customer data, ensure regulatory compliance, and build trust in the digital age.
Business Model of OneTrust
OneTrust operates as a software-as-a-service (SaaS) company with a comprehensive and multi-faceted business model. The company’s business model centers around providing privacy management and compliance solutions to help organizations navigate the complex landscape of data privacy and security. Let’s explore the business model of OneTrust in detail:
Subscription-Based SaaS Model: OneTrust’s primary revenue stream comes from a subscription-based SaaS model. Customers pay a recurring fee to access and utilize the OneTrust platform. The subscription fees are typically determined based on factors such as the number of users, the scope of services required, and the size of the organization.
Privacy Management and Compliance Solutions: The core of OneTrust’s business model lies in offering comprehensive privacy management and compliance solutions. The platform provides a range of tools and modules to assist organizations in managing various aspects of data privacy, including data mapping, consent management, cookie compliance, vendor risk management, and incident response.
Customizable Modules and Tiers: OneTrust offers a modular approach, allowing customers to customize their subscription plans based on their specific needs and requirements. Customers can select from a range of modules based on the compliance challenges they face and can choose different tiers of service based on the level of features and support they need.
Global Compliance and Regulations: OneTrust’s business model emphasizes addressing global privacy compliance requirements. The platform is designed to assist organizations in complying with various privacy regulations, including the European Union’s General Data Protection Regulation (GDPR), the California Consumer Privacy Act (CCPA), and other regional and industry-specific data protection laws.
Integration with Third-Party Tools: OneTrust offers integration capabilities with a wide range of third-party tools, such as customer relationship management (CRM) systems, marketing automation platforms, and cloud storage services. This integration capability enables seamless data flow and enhances the efficiency of privacy management processes.
Professional Services and Training: In addition to the core SaaS offering, OneTrust provides professional services and training to its customers. This includes implementation support, data mapping assistance, and onboarding services to ensure that customers can successfully integrate and utilize the platform.
Partner Ecosystem: OneTrust has built a partner ecosystem that includes consulting firms, legal experts, and technology providers. The company collaborates with these partners to extend its market reach, enhance customer value, and offer specialized services to its clients.
In conclusion, OneTrust’s business model centers on providing a subscription-based SaaS platform that offers comprehensive privacy management and compliance solutions. By addressing global privacy regulations, offering customizable modules, and emphasizing continuous innovation, OneTrust positions itself as a leader in the privacy technology industry, helping organizations safeguard customer data, achieve regulatory compliance, and build trust with their stakeholders.
Revenue Model of OneTrust
OneTrust’s revenue model revolves around a combination of subscription-based software licensing, professional services, and training offerings. As a leading provider of privacy management and compliance solutions, OneTrust generates revenue through the following key components:
Subscription-Based SaaS Licensing: The primary revenue stream for OneTrust is derived from subscription-based software-as-a-service (SaaS) licensing. Customers pay recurring subscription fees to access and utilize the OneTrust platform. The subscription fees are typically based on factors such as the number of users, the scope of services required, and the level of features and functionalities needed.
Modular Pricing and Tiers: OneTrust offers a modular pricing model, allowing customers to select specific modules and features based on their individual needs. Customers can choose from a range of modules, each addressing specific aspects of privacy management and compliance, such as data mapping, consent management, cookie compliance, and more. Additionally, OneTrust offers different tiers of service with varying levels of features and support, providing customers with flexibility in selecting a plan that aligns with their requirements and budget.
Enterprise and Custom Solutions: For larger enterprise clients with more complex privacy management needs, OneTrust may provide customized solutions tailored to specific business requirements. These enterprise solutions often involve additional services, support, and bespoke features, resulting in higher revenue opportunities for the company.
Professional Services: In addition to the core SaaS offering, OneTrust generates revenue through professional services. These services may include implementation support, data mapping assistance, and onboarding services to ensure that customers can effectively integrate and utilize the platform. Professional services are often charged separately from the SaaS subscription fees and can be tailored to meet each customer’s unique needs.
Training and Certification Programs: OneTrust offers training and certification programs to educate customers on using the platform effectively and understanding privacy best practices. These training programs can be provided both in-person and through online resources. Revenue is generated through fees charged for participation in these programs, which contribute to enhancing customer proficiency and the value derived from the platform.
Partner Ecosystem: OneTrust collaborates with consulting firms, legal experts, and technology providers through its partner ecosystem. Partners often refer clients to OneTrust or offer complementary services alongside the platform. In such cases, OneTrust may share revenue with its partners, contributing to mutual growth opportunities.
In conclusion, OneTrust’s revenue model is centered on a subscription-based SaaS licensing approach, supplemented by professional services, training offerings, and customized solutions for enterprise clients. By offering modular pricing, global reach, and strategic partnerships, OneTrust has established a robust revenue generation strategy, positioning itself as a leading player in the privacy technology industry.
Valuation, Funding and Investors of OneTrust
Valuation of OneTrust
Yesterday, on 25th July 2023, the company announced it raised $150 million on a valuation of $4.5 billion, a half-billion shave and a haircut for the company, which seems modest, given how valuations have been trimmed in recent years.
The round was led by Generation Investment Management, which is former vice president Al Gore’s firm, with participation from Sands Capital, an existing investor.
Funding Rounds of OneTrust
OneTrust has raised over $1 billion in venture capital funding to date. Here is a breakdown of the company’s funding rounds:
Series A: In July 2019, OneTrust raised $200 million Series A investment round at a valuation of $1.3 billion led by Insight Partners.
Series B: In Feb 2020, OneTrust raised $210 million Series B investment round at a valuation of $2.7 billion
Series C: In Dec 2020, OneTrust raised $300 million Series C investment round at a valuation of $5.1 billion led by TCV joining existing investors Insight Partners and Coatue.
Series D: In July 2023, OneTrust raised $150 million Series D investment round led by Generation Investment Management with participation from Sands Capital, at a down round valuation of $4.5 billion.
OneTrust’s funding rounds have been well-received by investors. The company’s valuation has increased significantly in recent years, and it is now valued at over $4.5 billion. OneTrust’s funding rounds have helped the company to grow rapidly. The company has expanded its product offerings, hired new employees, and opened new offices.
OneTrust’s funding rounds have also helped the company to gain market share. The company is now the leading provider of privacy and security software.
Also Read: 6Sense – History, Founders, Business & Revenue Model, Funding
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