May 29, 2024 at 11:00AM
Transcend, a data privacy startup, concluded a $40 million Series B funding round, bringing its total funding to $90 million. The funding was provided by StepStone Group, 01 Advisors, Accel, and other investors. Transcend, founded in 2017, offers a unified privacy and data governance platform, with 12 products, serving global firms and managing personal data.
From the meeting notes, the key points to take away are:
1. Transcend, a startup in the data privacy space, has announced the completion of a $40 million Series B funding round, bringing the total raised by the company to $90 million.
2. The funding was provided by StepStone Group, 01 Advisors (01A), Accel, HighlandX, Index Ventures, Script Capital, and South Park Commons.
3. Transcend, founded in 2017 and based in San Francisco, is focused on building a unified privacy and data governance platform for organizations of all sizes.
4. The Transcend technology covers the full privacy lifecycle of personal data, including continuous discovery, mapping, and classification of data, consent management, and fully automated workflows for privacy request orchestration.
5. The company markets a suite of 12 products that streamline privacy operations by encoding controls directly into business systems to simplify compliance, improve resilience, and cut costs.
6. Transcend also provides AI governance to help organizations identify, control, and manage risks associated with LLM technology deployments.
7. The Transcend platform has provided actionable data rights to more than 1.2 billion people worldwide and is being used by global firms, including Fortune 500 and Global 2000 companies, for data governance.
8. CEO Ben Brook emphasized the need to solve privacy problems at the data system level and highlighted the latest fundraise to meet the demand for modern privacy technology.