OneTrust, the closely VC-backed information privateness, governance, and compliance platform, has introduced plans to accumulate Shared Assessments, a membership-based group that develops finest practices for third-party danger administration.
Atlanta, Georgia-based OneTrust affords a variety of instruments designed to assist main enterprise shoppers akin to Oracle and Marketo handle their customers’ privateness and decide how properly the businesses are adhering to authorized frameworks akin to GDPR in Europe and CCPA in California. Its merchandise embody privateness administration software program; information discovery and classification; ethics and compliance; danger administration; and consent and desire administration software program.
Founded in 2005, Shared Assessments has developed the standardized info gathering (SIG) questionnaire to assist firms assess third-party danger of their provide chain, with notable members together with Iron Mountain, Ellie Mae, SAP, and OneTrust itself. Under OneTrust’s auspices, Shared Assessments mentioned that it intends to “remain a vendor-neutral industry organization,” however now with the backing of a billion-dollar firm to assist scale and change into the “de facto international third-party risk standard,” in response to a press launch.
This newest deal represents OneTrust’s third acquisition previously two months, after it snapped up DocuVision, an AI-powered platform that firms use to search out and redact delicate information in giant volumes of paperwork; and Convercent, an ethics and compliance software program platform. The firm additionally simply last month raised $210 million at a $5.3 billion valuation.
OneTrust’s acquisition spree additionally mirrors exercise elsewhere within the information privateness area, with the likes of LiveRamp acquiring Datafleets and HelpSystems buying Vera. Ultimately, companies are on the hunt for unified privateness options relatively than having to combine and match totally different parts from a number of suppliers, which is why OneTrust has been hell-bent on extending its product suite.
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