Sunday, May 16, 2021
Home Tech OneTrust acquires Shared Assessments to standardize third-party risk management

OneTrust acquires Shared Assessments to standardize third-party risk management

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OneTrust, the closely VC-backed knowledge privateness, governance, and compliance platform, has introduced plans to purchase Shared Assessments, a membership-based group that develops greatest practices for third-party risk management.

Atlanta, Georgia-based OneTrust affords a spread of instruments designed to assist main enterprise shoppers akin to Oracle and Marketo handle their customers’ privateness and decide how effectively the businesses are adhering to authorized frameworks akin to GDPR in Europe and CCPA in California. Its merchandise embody privateness management software program; knowledge discovery and classification; ethics and compliance; risk management; and consent and choice management software program.

Founded in 2005, Shared Assessments has developed the standardized data gathering (SIG) questionnaire to assist firms assess third-party risk of their provide chain, with notable members together with Iron Mountain, Ellie Mae, SAP, and OneTrust itself. Under OneTrust’s auspices, Shared Assessments stated that it intends to “remain a vendor-neutral industry organization,” however now with the backing of a billion-dollar firm to assist scale and turn out to be the “de facto international third-party risk standard,” in accordance to a press launch.

Acquisition spree

This newest deal represents OneTrust’s third acquisition previously two months, after it snapped up DocuVision, an AI-powered platform that firms use to discover and redact delicate knowledge in giant volumes of paperwork; and Convercent, an ethics and compliance software program platform. The firm additionally simply final month raised $210 million at a $5.3 billion valuation.

OneTrust’s acquisition spree additionally mirrors exercise elsewhere within the knowledge privateness area, with the likes of LiveRamp buying Datafleets and HelpSystems shopping for Vera. Ultimately, companies are on the hunt for unified privateness options moderately than having to combine and match totally different parts from a number of suppliers, which is why OneTrust has been hell-bent on extending its product suite.

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Sunday, May 16, 2021
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