OneTrust Valued at $5.1 Billion as TCV, Insight, Coatue Invest

OneTrust, a maker of privacy and security software, reached a $5.1 billion valuation after raising $300 million from venture firm TCV and existing backers Insight Partners and Coatue.

“This round gives us flexibility for future acquisitions, recruiting and growth,” OneTrust co-Chairman Alan Dabbiere said in an interview. The Atlanta-based company may pursue smaller rivals, he said, referencing its 2019 purchase of privacy-laws specialist DataGuidance. “These are the kinds of creative acquisitions that have driven our growth and success.”

Tim McAdam, a TCV general partner, described the startup as “category-defining,” noting that it caught the attention of his firm after ...