Transcend Secures $40 Million Series B

<p><strong>SAN FRANCISCO<&sol;strong> &&num;8212&semi; Transcend&comma; developer of a data privacy platform&comma; has raised &dollar;40 million in Series B funding led by new investor StepStone Group&comma; with participation from HighlandX and existing investors Accel&comma; Index Ventures&comma; 01 Advisors &lpar;01A&rpar;&comma; Script Capital&comma; and South Park Commons&period; This brings the total raised to nearly &dollar;90 million&period;<&sol;p>&NewLine;<p>Since its last fundraise&comma; Transcend has expanded beyond offering &OpenCurlyDoubleQuote;a virtual kill-switch for consumers to delete data&comma;” and is now a comprehensive Privacy and AI Governance suite of 12 products that transform how enterprises understand and manage personal data&comma; automate privacy tasks&comma; assess risks&comma; and oversee AI systems&period;<&sol;p>&NewLine;<p>Most companies use legacy privacy platforms built on manual workflows&colon; interviewing data owners&comma; data entry&comma; and assigning operational work across teams&period; Transcend focuses on encoding privacy controls directly into business systems&comma; with a novel approach centered around the full privacy lifecycle of personal data&comma; including data discovery and classification&comma; consent and preference management&comma; and automating operational workflows&comma; such as responding to data deletion and access requests&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Trying to solve today’s privacy challenges with legacy platforms is like throwing a glass of water at a house fire—it’s hopeless&comma;” said Transcend CEO Ben Brook&period; &OpenCurlyDoubleQuote;This month marks the sixth anniversary of GDPR&comma; and we’re in the middle of another wave of comprehensive legislation with the EU AI Act and a draft U&period;S&period; federal privacy law&period; Yet privacy remains a fundamentally unsolved problem inside companies&period; Most have neither a clear view of their data&comma; nor effective privacy controls installed directly into their systems&period; And now&comma; new AI use cases are kicking this problem right up to the boardroom door&period;”<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Legacy solutions that rely on heavily operational processes cannot meet this moment&period; Privacy problems have to be solved at the data system level&comma; with infrastructure that orchestrates personal data directly across all business systems&period; That’s how we’ve built the Transcend platform since day one&comma; and this latest fundraise will help us meet the demand for a transition to modern privacy technology&comma;” said Brook&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Transcend takes a radically different approach to solving modern data privacy problems by tackling it at the code level&comma; which is one of the many reasons we’ve invested in the company&comma;” said John Avirett&ZeroWidthSpace;&ZeroWidthSpace;&ZeroWidthSpace;&ZeroWidthSpace;&comma; Partner at StepStone Group&period; &OpenCurlyDoubleQuote;What’s also remarkable is how often they’re moving companies with complex data requirements off inefficient legacy platforms and point solutions&comma; and onto their next-generation platform—what an incredible signal of future success&period;”<&sol;p>&NewLine;