TRUSTe, the data privacy management company, announced today the company has changed its name to TrustArc to reflect its evolution from a privacy certification company into a global provider of technology-powered privacy compliance and risk management solutions.
The name change also coincides with the company’s 20th anniversary of delivering innovative privacy solutions. The name change was announced at the Privacy Risk Summit in San Francisco, the company’s annual conference bringing together clients, partners, and industry experts to discuss market trends, best practices, and cutting-edge solutions to address emerging privacy challenges.
Scott Taylor, AVP, and CPO for Merck said, “Privacy continues to be a top priority for Merck and we use the TrustArc platform along with TRUSTe certifications across our business to manage privacy accountability, global interoperability, and compliance. The name change to TrustArc is a great reflection of the broad range of solutions they offer and that we’ve benefited from for a number of years.”
Founded in 1997, TRUSTe is best known for the iconic green seal displayed on thousands of sites and apps worldwide over the past 20 years.
While certifications are still an important component of many privacy programs, managing compliance and risk has become increasingly complex due to new regulations such as the GDPR, cyber security concerns and increasing volumes of personal data collection.
Businesses now need a wide range of technology solutions and consulting services to help them design, implement, and manage their enterprise privacy programs.
To meet these evolving market requirements, we launched the first module of our Data Privacy Management Platform in 2011 to address advertising privacy compliance. Our technology platform has been continuously expanded and now includes data inventory and mapping, risk assessment, website monitoring, consent management, and dispute resolution capabilities.
The platform now generates the largest percentage of our revenue and is used to power TRUSTe certifications and our rapidly growing consulting and managed service business.
Trevor Hughes, IAPP President and CEO said, “TRUSTe has had a strong history in the privacy field for the past two decades. Our field continues to grow and mature, and the change to TrustArc reflects another step forward for a valued partner. We look forward to TrustArc advancing solutions that help organizations manage privacy in ever more efficient and effective ways.”
Chris Babel, TrustArc CEO said, “TRUSTe has been at the forefront of the data privacy management market for two decades and we are just as committed to the market as we were on day one. Today’s move to the TrustArc brand is a natural next step in our ongoing evolution as an innovator and industry partner to the thousands of customers and partners worldwide that rely on us for their privacy compliance needs. With TrustArc’s next-generation cloud platform, we will continue to power the solutions the market needs today and tomorrow.”
TrustArc will become the new corporate name and used for technology products and consulting services; the TRUSTe brand will continue to be used for Certification offerings.
In conjunction with the Privacy Risk Summit, TrustArc released the results of a survey of 204 privacy professionals, examining their perceived challenges and need for resources.
Fielded in May 2017 with Dimensional Research, the survey results reveal that a vast majority of the respondents find that managing data privacy is increasingly important (96%), and increasingly complex (98%). 95 percent have a growing need for technology solutions to manage data privacy.
83% expect to make at least a six-figure investment to manage privacy compliance with the GDPR, while nearly one fourth of respondents plan to spend more than $1M on privacy solutions to comply with the GDPR.
The survey data validates the growing market demand TrustArc has experienced for new technology solutions and consulting services to help businesses address global privacy compliance and risk management challenges.
Learn more in the 2017 GDPR Benchmarks Report.
The TrustArc name reinforces our deep privacy expertise developed over the past two decades along with our ongoing expansion into new technology powered solutions.
“Trust” reflects our strong history as an innovator and leader in the privacy market, and the value businesses place on ensuring they can build trust with their customers and partners.
“Arc” conveys the broader set of solutions we now offer and our ongoing commitment to continuously expand our technology platform and services to meet the future needs of our clients.
The TrustArc symbol, inspired by the strength and intelligence of dolphins, reflects the continued evolution of the privacy industry along with the continued changes that both our clients and TrustArc will need to make to address new challenges as they arise.
TrustArc offers an unmatched combination of solutions backed by over 150 employees dedicated to privacy, a comprehensive purpose-built technology platform used by over 1,000 clients, and a proven methodology honed through thousands of customer engagements over the past 20 years.
In addition to continuously expanding our technology platform and services to meet our clients needs, we are opening our platform to integrate with other key business systems as well as making our platform available for partners across the privacy ecosystem to use to deliver their services.
The spirit of innovation that has inspired TRUSTe for the past 20 years will continue to guide TrustArc into the future. It’s why more than 1,000 clients worldwide rely on us to minimize risk and help fuel new business initiatives.