San Francisco-based Transcend, a leading developer of data privacy platforms, has secured $40 million in Series B funding led by new investor StepStone Group. This round also saw participation from HighlandX and existing investors Accel, Index Ventures, 01 Advisors (01A), Script Capital, and South Park Commons. With this latest infusion of capital, Transcend’s total funding now stands at nearly $90 million.
Transcend has evolved from its initial offering of a “virtual kill-switch for consumers to delete data” to become a comprehensive Privacy and AI Governance suite comprising 12 products. These products aim to revolutionize how enterprises understand and manage personal data, automate privacy tasks, assess risks, and oversee AI systems.
Traditional privacy platforms often rely on manual workflows, involving interviews with data owners, manual data entry, and assigning operational tasks across teams. In contrast, Transcend focuses on embedding privacy controls directly into business systems. Its approach revolves around the full privacy lifecycle of personal data, including data discovery and classification, consent and preference management, and automation of operational workflows such as responding to data deletion and access requests.
CEO Ben Brook emphasized the urgent need for modern privacy solutions in today’s regulatory landscape, citing the sixth anniversary of GDPR and the introduction of new legislation such as the EU AI Act and a draft U.S. federal privacy law. He highlighted the inadequacy of legacy platforms in addressing these challenges and stressed the importance of solving privacy issues at the data system level.
Brook further explained that Transcend’s platform is designed to orchestrate personal data directly across all business systems, addressing privacy challenges comprehensively. He expressed confidence that the latest funding round will enable Transcend to meet the growing demand for modern privacy technology.
John Avirett, Partner at StepStone Group, commended Transcend’s innovative approach to data privacy, particularly its focus on tackling privacy issues at the code level. He also noted the company’s success in migrating companies with complex data requirements away from legacy platforms onto its next-generation platform, signaling strong prospects for future success.