TRUSTe, the leading privacy management solutions provider, announced that 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. The company also announced its plans to expand its product suite to address the exploding global, big data privacy challenges.
“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.”
In the past 18 months, TRUSTe has nearly tripled in size – including sales, employees, and product offerings, but it has also increased interest in investments for additional staff to support its growing need to address management for complex technology and complicated compliance agreements.