OneTrust provides compliance solutions that leverage AI tools and automation across all areas of privacy compliance. OneTrust Athena, the company’s AI-powered solution, provides automation in the areas of data discovery, data subject rights management, consent management (with a user-facing preference center for greater control), data protection impact assessments, third-party risk management, incident response reporting, and monitoring. The company also provides regulatory research software that companies can use to train staff and even benchmark their own privacy programs. The company’s Government Records Request Automation solution helps government organizations intake requests, automate data discovery and redaction, and provide a secure two-way communication portal that demonstrates compliance with FOIA, PRR, and the Privacy Act.

OneTrust has strengthened its position in the digital privacy space through several acquisitions in recent years. In March 2021, OneTrust acquired DocuVision, an AI-powered data redaction platform to bolster its data subject rights capabilities through automatic redaction of non-relevant sensitive information. During the same month, OneTrust acquired Convercent to enhance its platform through advanced ethics and compliance capabilities, and helpline and disclosure management. OneTrust acquired the security assurance and certification platform Tugboat Logic in September 2021, to automate its InfoSec assurance and certification processes. Other notable acquisitions include Privacy Core e-learning, DataGuidance, and Integris Software.

Funding and financials

In September 2020, OneTrust was named the fastest-growing privately held company in America, with revenue growth of more than 48,000% over three years. In addition to the US, OneTrust also operates in the UK, France, Germany, India, Hong Kong, Thailand, and Australia.

The company employed 3,000 people, served more than 12,000 customers (including 75% of the Fortune Global 500 companies), and its solutions are backed by 200 patents, as of January 2022. In June 2022, OneTrust laid off 950 employees (~25% of its global workforce) across its departments in Atlanta (US), Bengaluru (India), and London (UK), due to worsening global financial crisis and to balance between growth and profitability.

In December 2020, OneTrust raised USD 300 million in Series C funding at a valuation of USD 5.1 billion, almost doubling in value from its previous round in February 2020. The investment was led by TCV, with participation from OneTrust's existing investors, Insight Partners and Coatue. This preemptive funding round was expected to be spent on research and development as well as expanding its sales, marketing, and engineering teams worldwide. In April 2021, the Series C round was extended by another USD 210 million in Series C1 funding from SoftBank Vision Fund and Franklin Templeton, bringing its valuation to USD 5.3 billion. The company expected to use SoftBank’s backing to cement a geographical position in Japan.