OneTrust announced it closed a $300 million Series C funding round, led by the equity firm TCV and with participation from existing investors Coatue and Insight Partners. With this new round of financing, OneTrust is now valued at an estimated $5.1 billion. The news comes just after BigID announced it is now valued at $1 billion after a $70 million Series D round of funding. IAPP Associate Editor Ryan Chiavetta, CIPP/US, spoke with OneTrust CEO Kabir Barday, CIPP/E, CIPP/US, CIPM, CIPT, FIP, about the new round of funding, what it signals for the privacy tech market and how the company was able to navigate a challenging 2020.
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