The funding takes the company’s valuation to $1.3bn. Founded in 2016 and headquartered in Atlanta, Georgia, OneTrust’s enterprise software is used to help organisations comply with privacy laws such as the forthcoming California Consumer Privacy Act (CCPA), the General Data Protection Regulation (GDPR) and ISO27001.

The company offers three main services: privacy management software to assess data collection processes, respond to incidents and automatically generate compliance reporting; consent and preference management software for marketers; and vendor and third-party risk management software for procurement teams.

OneTrust’s database of privacy and security regulations is updated daily by its in-house privacy and security researchers.

Headquartered in Atlanta, Georgia, and London, the company has additional offices in Bangalore, San Francisco, Melbourne, New York, Munich and Hong Kong.

Kabir Barday, chief executive and fellow of information privacy (FIP), OneTrust, said: "This investment will help us to bring a new level of scale and support for our customers, coming at a timely juncture with just six months before California’s CCPA is set to be enforced."

Richard Wells, managing director at Insight Partners, said: "OneTrust’s strategic vision, stellar execution, and product innovation have shaped the company’s leadership in the privacy and compliance space, providing customers with the tools to implement their own best in class privacy, security, and third-party risk programs."