Data is eating the world, and shoring up its protection has ballooned into a huge market opportunity.data security startup OneTrust is back with an additional $210 million to help companies navigate the new privacy-conscious world order.
"They've really crushed it," Insight Partners managing partner Richard Wells told Business Insider. "[The funding] was not something they actively sought out; it was actively brought to them."had been signed into law but had yet to go into effect. Other states are now watching how the law plays out with separate draft legislation just waiting to debut.
"We saw a huge growth in requests to help companies execute consumer rights requests," Brannon said. "They were looking for ways to update privacy policies and tie in to the backend systems where they use that data to automate the deletion process, so we built and actually patented much of the tech to help companies making those requests.
Part of that push comes from the users themselves, even if they aren't in Europe or California, Brannon said. There's an expectation that companies be transparent about data usage, whether or not that's the case in practice. That, in turn, puts pressure on companies of all sizes to address what they feel are the ethical uses of the massive troves of data they've collected.
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