The Rework Expertise Summits begin October thirteenth with Low-Code/No Code: Enabling Enterprise Agility. Register now!
Knowledge privateness, governance, and compliance platform OneTrust has introduced plans to amass Tugboat Logic, a platform that corporations use to garner safety certifications resembling ISO 27001. Phrases of the deal weren’t disclosed.
Based in 2016, OneTrust is one of numerous companies focusing on serving to different companies keep information privateness, each for regulatory compliance and to satisfy prospects’ rising expectations that their information will probably be handled with child gloves. OneTrust gives a self-assessment device that companies resembling Allianz, Maersk, and Huawei can use to see how they adjust to GDPR and different authorized frameworks (or fail to), with further instruments resembling “information mapping” that illustrate how information flows via a company and throughout borders, in addition to myriad providers spanning cookie compliance, consent administration, and breach response.
Gartner predicts that by 2023, information from almost two-thirds of the world’s inhabitants will probably be lined by native and regional privateness rules — resembling Europe’s GDPR and California’s CCPA. As such, the enterprise governance, threat, and compliance (GRC) market was pegged at $35 billion in 2020.
Automation for the individuals
Whereas OneTrust has some current performance to assist companies after they’re audited for certification, Tugboat Logic is particularly about eradicating friction from the method by automating key steps. The four-year-old VC-backed firm is in the end centered on addressing a expertise hole within the safety and compliance business.
Utilizing AI and machine studying, Tugboat Logic automates data safety (InfoSec) coverage creation and “audit readiness” so corporations can show to prospects that they’re severe about information safety. The Tugboat Logic platform features a prebuilt library of 40 insurance policies to take quite a lot of the spadework out of making data safety (InfoSec) insurance policies, and it additionally gives automated safety questionnaire responses to expedite request for proposal (RFP) submissions.
“Any enterprise that makes use of information is now a regulated enterprise, and no matter dimension, these corporations are held to the identical threat compliance and certification requirements as subtle packages,” OneTrust CEO Kabir Barday famous in a press launch. “Tugboat Logic simplifies safety assurance and certification automation to assist rising corporations simply reveal why they are often trusted and provides a stage of assurance about their safety and compliance posture.”
OneTrust has been on one thing of an acquisition spree in 2021, bolstering its core providing with third-party risk management platform Shared Assessments; ethics and compliance company Convercent; and automated data-redaction provider DocuVision. These offers have been partially funded by the Atlanta, Georgia-based firm’s current $510 million money injection, which was spread throughout two rounds of funding beginning final December.
Different notable gamers within the area embody BigID and Didomi, both of which have raised sizable investments in current months. However by extending its attain into associated information privateness and safety verticals, OneTrust is positioning itself as a extra alluring proposition for corporations of all sizes by providing complete instruments and providers. The corporate can cross-sell and upsell to Tugboat Logic customers as their companies develop, providing all method of instruments spanning privateness, ethics and compliance, ESG, third-party threat, information governance, and extra.
OneTrust stated it expects to shut the Tugboat Logic acquisition within the coming weeks.
VentureBeat’s mission is to be a digital city sq. for technical decision-makers to achieve data about transformative know-how and transact.
Our web site delivers important data on information applied sciences and methods to information you as you lead your organizations. We invite you to develop into a member of our group, to entry:
- up-to-date data on the topics of curiosity to you
- our newsletters
- gated thought-leader content material and discounted entry to our prized occasions, resembling Transform 2021: Learn More
- networking options, and extra