TrustArc, the leading global provider of privacy management solutions, announced that it has received a $70 million Series D growth investment led by private equity firm, Bregal Sagemount, to further advance the company’s leadership position in the privacy market.
Existing investors Accel Partners, Baseline Ventures, DAG Ventures, Icon Ventures and Industry Ventures will continue to retain significant stakes in the business.
“We are very excited to bring on Sagemount as a strategic and financial partner. Given their prior success investing in market-leading, high-growth technology companies, we believe they are the right partner for the next phase of our growth,” commented Chris Babel, CEO of TrustArc.
“We have been building on our two decades of privacy leadership to design cutting edge technology solutions, and this significant growth investment will allow us to further help enterprises around the world navigate the rapidly evolving data privacy regulatory landscape.”
“Companies are increasingly required to serve as fiduciaries of personal information. Their customers, supply chain partners, and vendors are more likely to provide such data to companies that have the policies and software to manage it properly,” said Daniel Kim, Founding Partner at Bregal Sagemount.
“TrustArc’s privacy industry leadership has allowed it to build a unique suite of technology solutions to help companies differentiate themselves in today’s regulatory environment.”
“TrustArc is at the center of the rapidly growing privacy tech market which is part of a larger wave of innovation transforming regulatory compliance,” said Andrew Braccia, Partner at Accel Partners. “Together with Sagemount we look forward to working with TrustArc to further enhance its solutions and expand into new markets worldwide.”
Sagemount’s investment was led by Daniel Kim, Arjun Mehta, and William Breskman. TrustArc was advised by DBO Partners, and Fenwick & West provided legal counsel. Goodwin Procter provided legal counsel to Bregal Sagemount.