OneTrust, the market-defining leader for trust intelligence, today announced it expects to surpass $500 million in Annual Recurring Revenue (ARR) later this year while maintaining positive free cash flow. This success is driven by its growing customer base that has reached more than 14,000 customers, including 75 percent of the Fortune 100 – all of whom have turned to OneTrust to enforce the secure, responsible use of data and AI across their organizations. The Company is on an upward trajectory, and with its current momentum, is gearing up for the ambitious goal of scaling to $1 billion in ARR.
“In the age of data and AI, responsible use of data and AI can no longer be a barrier to innovation,” said Kabir Barday, CEO of OneTrust. “Companies feel they're facing a conundrum – how to deliver future-proofed data and at the speed and volume demanded by their AI initiatives. OneTrust bridges the gap between data activation and data risk, allowing organizations to enforce responsible use of data and AI that not only matches the pace of innovation, but propels it. With one platform delivering complete context and control across all data and risks, organizations can unlock the value of their greatest asset and gain a clear competitive edge.”
Commenting on OneTrust’s financial performance, Barday added: “Our dedication to resilience and adaptability in navigating market dynamics positions us well for future growth opportunities. We are especially encouraged by the increase in large deals, with more than 1200 of our customers over $100,000 in ARR, and a few already over $1 million in ARR. We are squarely focused on maintaining strong growth alongside smart, efficient operations so that we can invest confidently and deliver with quality to continue to earn our customers’ trust for the long-term.”
World-leading organizations, such as TitanOS, have selected OneTrust’s consent management platform (CMP) to offer consumers more control over how their data is used and provide advertisers the confidence that consumers’ rights are being protected. PUMA, for example, relies on OneTrust to better manage and assess vendor risk, and continues to choose OneTrust to help it build trust amongst its customers and manage privacy. Today, through its suite of solutions, OneTrust empowers more than one billion consent and preference transactions daily.
In addition to being trusted by customers, OneTrust’s solutions have long gained recognition from industry awards and analysts for tackling top data privacy and compliance challenges. Most recently, OneTrust received two gold awards from the annual Globee Awards for Cybersecurity: one for OneTrust Certification Automation in the Compliance Solutions Category and one for OneTrust Privacy and Data Governance Cloud in the Data Governance category. OneTrust was also recently named the Market Leader in the KuppingerCole Data Governance Report, given the highest ratings across the Security, Functionality, Deployment, Interoperability, and Usability criteria used to determine placements in the report. In addition to leading the industry with its innovative technology, OneTrust remains committed to leading conversations and policy development around responsible and ethical AI use, having joined the Responsible Artificial Intelligence Institute in April of 2024.
The Company’s vision for responsible and trusted AI has resonated far and wide, especially amongst partners. OneTrust announced a partnership with Adobe to enable marketers to navigate changes in how they capture, access, and activate data. The company also just announced enhancements to the OneTrust Partner Program to offer partners and alliances new benefits, resources, training, and incentives to accelerate the success of the ecosystem. Beginning in August 2024, partners and alliances of OneTrust will gain access to advanced enablement and certification benefits to develop and grow their capabilities, as well as advance their tier status; enhanced experiences in the Partner Portal, including training and support, deal referral and registration, enablement, marketing resources, certification, pricing, and more, to accelerate impact; and a richer portfolio of referral commissions and deal registration discounts that allow them to reach their full potential when bringing opportunities to OneTrust.
In addition, OneTrust remains dedicated to bringing leading data and technology experts to the table to guide the Company in its growth. Most recently, OneTrust introduced David Obstler, the Chief Financial Officer of Datadog, as its first independent board member and Audit Committee Chair. David brings more than three decades of financial experience to the board, with a majority of that time working specifically with tech companies. He has held CFO roles at companies like TravelClick, MSCI Inc., and Risk Metrics Group. Before his time in these roles, he worked at JPMorgan, Lehman Brothers, and Goldman Sachs in various investment banking positions. He also serves on the board of directors of several other companies.