Total amount raised
$69 Million
Latest funding date
5/1/2024
Location
Transcend has successfully raised funding over three rounds, with the latest being a Series B round. The company is backed by ten investors, including notable names like 01 Advisors and Index Ventures.
Transcend's platform offers privacy infrastructure that integrates with data and vendor ecosystems, automating data and consumer preference governance in real-time. Keep reading to explore the intricacies of Transcend's fundraising journey and the investors backing this innovative platform.
What Is Transcend?
Transcend is a privacy infrastructure company based in San Francisco, California. It operates in the cloud infrastructure, compliance, and privacy sectors, helping leading brands manage data privacy and user consent.
Founded with a mission to automate data privacy compliance, Transcend has grown to employ between 101-250 people. The company integrates privacy solutions into various data systems, ensuring secure and efficient data management.
How Much Funding Has Transcend Raised?
- Seed Round
- Amount Raised: USD 3,950,000
- Date: April 2019
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of their privacy infrastructure platform and gain early market traction.
- Series A
- Amount Raised: USD 25,000,000
- Date: June 2020
- Lead Investors: Accel, Index Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities to meet growing demand.
- Series B
- Amount Raised: USD 40,000,000
- Date: May 2024
- Lead Investors: StepStone Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and development efforts, and to transition enterprises to modern privacy solutions.
Total Amount Raised: USD 68,950,000. Current Valuation: Not publicly disclosed.
Key Investors
- StepStone Group
- Details: StepStone Group is a global private markets investment firm. They focus on providing customized investment solutions and advisory services to institutional investors.
- Investment Focus Areas: Private equity, venture capital, real estate.
- Notable Investments: Not publicly disclosed.
- Accel
- Details: Accel is a venture capital firm that partners with exceptional founders with unique insights, from inception through all phases of private company growth.
- Investment Focus Areas: Technology, early-stage startups, growth-stage companies.
- Notable Investments: Facebook, Dropbox, Slack.
- Index Ventures
- Details: Index Ventures is a global venture capital firm that backs the best and most ambitious entrepreneurs in technology and life sciences.
- Investment Focus Areas: Technology, life sciences, innovative startups.
- Notable Investments: Dropbox, Etsy, Robinhood.
- 01 Advisors
- Details: 01 Advisors is a venture capital firm founded by former Twitter executives. They focus on helping companies scale and navigate the complexities of growth.
- Investment Focus Areas: Technology, consumer internet, enterprise software.
- Notable Investments: Not publicly disclosed.
- Script Capital
- Details: Script Capital is a venture capital firm that invests in early-stage technology companies. They aim to support founders with bold visions and innovative ideas.
- Investment Focus Areas: Technology, early-stage startups, innovative solutions.
- Notable Investments: Not publicly disclosed.
What's Next for Transcend?
Transcend is poised to capitalize on the growing demand for data privacy solutions, with opportunities to expand its Privacy and AI Governance suite and win over clients from legacy platforms. The global data privacy software market, projected to reach $30 billion by 2030, offers a significant growth avenue.
Future fundraising rounds seem likely, given the successful Series B and the involvement of high-profile investors. However, Transcend will need to navigate challenges such as competition from established platforms and evolving privacy regulations. Ensuring seamless integration and scalability of their platform will be crucial as they expand their market reach.
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