On May 28, 2024, the San Francisco-based data privacy and AI governance platformTranscendannounced it has raised $40 million in Series B funding. The round was led by new investor StepStone Group, with participation from HighlandX and existing investors Accel, Index Ventures, 01 Advisors (01A), Script Capital, and South Park Commons.
Transcend plans to use the raised funds to continue winning customers, expand its privacy and AI governance product suite, and meet market demand for modern privacy technology.
Transcend was founded in 2017, co-founded by Ben Brook (CEO) and Mike Farrell (CTO). The company provides a data privacy and AI governance platform, focused on helping large companies better manage their data, reduce risk, improve operational efficiency, unlock growth potential, and build trust. Transcend's platform integrates the industry-standard data protection measures expected by security-conscious brands, including local security gateways, end-to-end encryption (E2EE), and more. Transcend was rated a "Leader" in data privacy management by G2 and recognized as a "Major Player" in the 2023 IDC MarketScape Worldwide Data Privacy Compliance Software report.
(Source:BusinessWire）