Data Protection Firm BigID Raises $70 Million at $1 Billion Valuation
Data protection firm BigID announced on Wednesday that it has raised $70 million in a Series D funding round, bringing the valuation of the company to more than $1 billion.
The total amount raised by the company now stands at $216 million.
BigID provides solutions that help organizations gain insight into the data they collect and process. The company’s products can be used to find, classify and inventory sensitive data and automate data protection, privacy and governance tasks to help customers comply with data privacy regulations.
BigID’s technology allows customers to process large volumes of data and supports integration with products from companies such as RSA, Salesforce, IBM, AWS, SAP, Microsoft, Cloudera, Snowflake, CyberArk and OneTrust.
According to the New York City based company, the additional funding will be used to support product development and expand sales and marketing.
“Data powers the modern enterprise and has become indispensable for customer innovation and value creation. At the same time, it has also come under greater scrutiny given the sensitivity and increase in global privacy regulators,” said Matthew Garratt, Managing Partner at Salesforce Ventures. “BigID has pioneered the ability for organizations to find and know their data in a way that helps them take action and automate critical privacy, security and data governance activities across a modern multi-cloud environment. We are excited to extend our investment in BigID.”
The Series D investment was led by Salesforce Ventures and Tiger Global, and also had participation from Glynn Capital, along with existing investors Bessemer Venture Partners, Scale Venture Partners, and Boldstart Ventures.