OneTrust, LLC is a software company specializing in privacy, security, and governance, risk, and compliance (GRC) solutions, providing a technology platform designed to assist organizations in managing their complex regulatory requirements.[1] Headquartered in Atlanta, Georgia, the company was established to address the increasing complexities of global data privacy regulations, offering a suite of tools and services that facilitate compliance with evolving legal standards.[2] OneTrust's platform aims to streamline compliance efforts for organizations by offering automated workflows, risk assessments, and reporting capabilities for data privacy and security assurance.[3]
OneTrust was founded in 2016 by Kabir Barday in Atlanta, Georgia, with the aim of addressing the burgeoning need for comprehensive data privacy management solutions in the face of increasingly complex global regulations.[4] The company's initial focus was on developing a technology platform that would enable organizations to comply with evolving international and domestic privacy laws, including the landmark General Data Protection Regulation (GDPR) in Europe and the California Consumer Privacy Act (CCPA) in the United States.
In its early years, OneTrust experienced rapid growth, driven by the increasing demand for privacy management solutions. The company secured significant venture capital funding, enabling it to expand its product offerings and global presence. OneTrust pursued strategic acquisitions to broaden its capabilities, incorporating tools for areas like third-party risk management and security assurance into its platform.
The company's growth was further driven by the increasing complexity and enforcement of data privacy regulations worldwide, creating a strong market pull for OneTrust's solutions. However, in June 2022, amidst a shift in capital market dynamics, OneTrust implemented a workforce reduction of approximately 25%, resulting in the layoff of around 950 employees globally.[5]
Acquisitions
OneTrust has pursued a strategy of growth through strategic acquisitions, expanding its platform's capabilities and market reach. Notable acquisitions include:
March 2019: DataGuidance, a London-based privacy and security regulatory research platform, enhancing OneTrust's ability to provide up-to-date regulatory intelligence.[6]
June 2020: Integris Software, a data discovery and classification software company, strengthening OneTrust's data governance and discovery capabilities.[7]
April 2021: A series of acquisitions significantly broadened OneTrust's offerings:
* Docuvision, an artificial intelligence data-redaction company, improving data anonymization and redaction functionalities. * Tugboat Logic, a security certification company, adding security assurance and compliance automation tools. * Convercent, a "whistleblowing" and ethics reporting software company, expanding OneTrust's ethics and compliance portfolio. * Planetly, a carbon emissions management and tracking platform, reflecting OneTrust's expansion into environmental, social, and governance (ESG) solutions.[8]
References
↑ "About Us". OneTrust. Retrieved October 26, 2023.
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