SoftBank, Franklin invest $210 million in OneTrust at over $5 billion valuation

FILE PHOTO: SoftBank Corp’s logo is pictured at a news conference in Tokyo, Japan, Feb. 4, 2021. REUTERS/Kim Kyung-Hoon/File Photo

(Reuters) - SoftBank Vision Fund 2 and Franklin Templeton led a $210 million investment in OneTrust at a valuation of more than $5 billion, the privacy and security software provider said on Thursday.

Including the investment, the total capital raised by OneTrust in it latest Series C round was $510 million. The firm, which counts Insight Partners, Coatue and TCV among its existing investors, has raised $920 million since it was founded.

Funding from SoftBank Vision Fund 2 opens up a strategic geographical position for OneTrust in Japan, the company said, as market demand accelerates in Asia Pacific and across the globe.

Japan’s SoftBank has made serial investments in multiple tech companies in the past few weeks, such as U.S. genetic diagnostics company Invitae Corp and Facebook-backed Indian social commerce startup Meesho.

On Wednesday, SoftBank made investments in Israeli cloud analytics firm Redis Labs and image recognition technology firm Trax.

Atlanta and London-based OneTrust’s platform, used by more than 8,000 companies to operationalize privacy, security and data governance, is backed by 140 patents and powered by OneTrust Athena, an artificial intelligence and robotic automation engine.

(Reporting by Sohini Podder in Bengaluru; Editing by Shinjini Ganguli)