The past year has brought about a dramatic change for businesses and digital marketers. After the PMP – and with ACCP coming into effect in less than six months – data privacy compliance has become a central element for organizations around the world.
The OneTrust firm announced it has closed an impressive $ 200 million investment Series A of Insight Partners in its latest round of financing, bringing the platform valuation to 1.3 billion dollars. This multi-million dollar investment demonstrates the growing priority that companies place on implementing privacy compliance.
"The three years at OneTrust have been exciting. Our customers have come together to define and develop the most widely used technology platform. in a completely new market, "said Karbir Barday, CEO and Associate Researcher for Information Privacy at OneTrust. "This investment will help us bring a new level of scale and support to our customers. We will arrive at a convenient time, just six months before the application of the CCPA law in California. "
Why We Should Care
This week again, the Union has imposed massive fines on British Airways and Marriot for data breaches affecting hundreds of millions of customers. The amount of fines ($ 230 million and $ 123 million, respectively) should be enough to put compliance at the forefront of your digital strategy (if it is not already the case). Third-party vendors such as OneTrust recognize the need to provide tools and solutions for compliance management.
Data privacy becomes a visible part of our strategies, especially in digital marketing. As we learn to manage different regional laws and global regulations, many organizations will turn to third-party vendors to help us drive the compliance component of our strategies.
We can expect to see more and more data compliance management platforms. the market as companies and their service providers implement new programs and new laws evolve.
For more on the news
OneTrust already serves more than 3,000 customers in more than 100 countries. OneTrust platform products include TrustArc automation processes , based in San Francisco, raised $ 70 million in its latest funding to help organizations implement privacy and compliance programs.
About the Author
Jennifer Videtta Cannon is Senior Writer for Third Door Media, covering topics ranging from marketing email and analysis to project management and CRM. With over ten years of experience in organizational digital marketing, she has overseen digital marketing operations for NHL franchises and has held positions in technology companies, including Salesforce, advising marketers of company on maximizing their martech capabilities. Jennifer previously hosted the Inbound Marketing Summit and holds a certificate in Digital Marketing Analysis from the MIT Sloan School of Management.