TRUSTe Expands Privacy Management Product Suite to Address Exploding Big Data Privacy Challenges Worldwide
Company Closes $15M Series C Financing Round to Simplify Privacy Management, Expand Global Presence, and Further Enhance Technology Platform
San Francisco, Calif. – January 23, 2012 - TRUSTe, the leading privacy management solutions provider, today announced plans to expand its product suite to address the exploding global, big data privacy challenges. In order to accelerate the development of new technologies, expand its international operations, and invest in additional sales and operations staff to support its rapidly growing customer base, TRUSTe also announced it closed a $15 million Series C Financing Round - led by Baseline Ventures and followed by existing investors Accel Partners, DAG Ventures and Jafco Ventures.
TRUSTe has experienced exponential worldwide growth driven by the explosive demand for privacy management solutions across all online markets, including advertising, cloud, mobile and the company's flagship web seal business. In the past 18 months, TRUSTe has nearly tripled in size - including sales, employees, and product offerings.
"TRUSTe looks forward to scaling the company further as we continue to deliver cutting-edge privacy solutions during this time of rapid technology change," said Chris Babel, CEO for TRUSTe. "This Series C Financing Round allows us to expand and enhance our existing comprehensive online privacy suite for the fast-paced and rapidly evolving mobile, cloud, and advertising markets, while continuing to develop new consumer privacy education and tools."
Big data is fast becoming one of the most important assets for businesses - and the key to powering emerging mobile, cloud and advertising markets. This increased use of data also poses significant challenges, including the need to address complicated compliance requirements, establish consumer trust, and manage complex technology requirements.
"TRUSTe has a unique combination of robust technology, an innovative compliance methodology, and the most trusted and recognizable privacy brand through its pervasive online trustmark - enabling it to continuously deliver industry leading privacy management solutions," said Steve Anderson, Baseline Ventures. "In less than one year, their TRUSTed Ads online advertising compliance solution has become the market leader in this fast growing segment."
"TRUSTe is uniquely positioned to help businesses address the growing privacy concerns threatening to limit the adoption of new technologies like mobile, fast becoming the most common way for people to interact online," said Andrew Braccia, Accel Partners. "TRUSTe's deep understanding of the evolving regulatory landscape, in-depth consumer insight, and technology innovation enables them to continuously deliver solutions - tailored to every online market - meeting the needs of both businesses and consumers."
Data Privacy Day Online Trust Alliance Panel, Chicago, January 24 TRUSTe also announced that tomorrow, January 24, Chris Babel, CEO for TRUSTe, will speak in Chicago about the challenges and opportunities surrounding data collection and online privacy facing businesses at the 2012 Privacy & Data Protection Town Hall, sponsored by Online Trust Alliance (OTA).
TRUSTe is the leading global Data Privacy Management (DPM) company and powers trust in the data economy by enabling businesses to safely collect and use customer data across their customer, employee, and vendor channels. Our SaaS-based DPM Platform gives users control over all phases of data privacy management from conducting assessments and implementing compliance controls to managing ongoing monitoring. Our DPM Services, including assessments and certifications, are delivered by an expert team of privacy professionals. Thousands of companies worldwide rely on TRUSTe to minimize compliance risk and protect their brand.