Total amount raised
$146.1 Millions
Latest funding date
January, 2020
Location
BigID has successfully raised multiple rounds of funding, with the latest being a Series E round. The company is backed by 23 investors, including Riverwood Capital and Advent International.
Keep reading to explore the intricacies of BigID's fundraising journey and the investors backing this innovative platform.
What Is BigID?
BigID, founded in February 2016 by Dimitri Sirota and Nimrod Vax, is a data intelligence company based in New York, New York. The company specializes in helping organizations discover, manage, and protect sensitive information using advanced machine learning and identity intelligence.
BigID's platform offers solutions for data security, compliance, privacy, and AI governance, enabling enterprises to meet regulations like CCPA and GDPR. Their software provides unmatched coverage for all data across various data stores, ensuring comprehensive data protection and management.
With a workforce of 251-500 employees, BigID continues to innovate in the field of data visibility and control, offering modular solutions to address data risk and enhance data governance.
How Much Funding Has BigID Raised?
- Series B
- Amount Raised: $30M
- Date: June 2018
- Lead Investors: Scale Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and enhance product offerings.
- Series C
- Amount Raised: $50M
- Date: September 2019
- Lead Investors: Bessemer Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and accelerate growth.
- Series C
- Amount Raised: $50M
- Date: January 2020
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support product development and market expansion.
- Series D
- Amount Raised: $70M
- Date: December 2020
- Lead Investors: Salesforce Ventures, Tiger Global Management
- Valuation at Round: $1.25 billion
- Motivation Behind the Round: To scale operations and maintain growth trajectory.
- Series D
- Amount Raised: $30M
- Date: April 2021
- Lead Investors: Advent International
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance data security and compliance solutions.
- Corporate Round
- Amount Raised: Not publicly disclosed
- Date: February 2022
- Lead Investors: ServiceNow
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To integrate with ServiceNow's platform and expand capabilities.
- Series E
- Amount Raised: $60M
- Date: March 2024
- Lead Investors: Riverwood Capital
- Valuation at Round: Over $1 billion
- Motivation Behind the Round: To accelerate growth in AI data security and compliance.
Total Amount Raised: $320M. Current Valuation: Over $1 billion.
Key Investors
- Riverwood Capital
- Details: Riverwood Capital is a private equity firm that invests in high-growth technology companies. They focus on providing growth capital to companies in the technology sector.
- Investment Focus Areas: Technology, software, tech-enabled services.
- Notable Investments: GoPro, Globant, Nutanix.
- ServiceNow
- Details: ServiceNow is a cloud computing company that provides enterprise software for technical management support. They are known for their IT service management solutions.
- Investment Focus Areas: Cloud computing, IT service management, enterprise software.
- Notable Investments: Element AI, Loom Systems.
- Splunk Ventures
- Details: Splunk Ventures is the corporate venture arm of Splunk Inc., focusing on investments in data and analytics. They aim to support innovative companies in the data space.
- Investment Focus Areas: Data analytics, machine learning, cybersecurity.
- Notable Investments: BigID, Cloud9 Technologies.
- Advent International
- Details: Advent International is one of the largest and most experienced global private equity investors. They have a broad investment portfolio across various sectors.
- Investment Focus Areas: Business and financial services, healthcare, industrial, retail, consumer, leisure.
- Notable Investments: Lululemon Athletica, Olaplex, Walmart Brazil.
- Salesforce Ventures
- Details: Salesforce Ventures is the investment arm of Salesforce, focusing on enterprise cloud companies. They support companies that are part of the Salesforce ecosystem.
- Investment Focus Areas: Cloud computing, enterprise software, AI.
- Notable Investments: Zoom, Dropbox, DocuSign.
What's Next for BigID?
BigID stands at the cusp of significant growth opportunities, particularly in AI data security and compliance. With the introduction of new data hygiene capabilities for generative AI data pipelines, the company is poised to address the challenges of unstructured training data, including quality, bias, privacy, access, and sovereignty. This expansion could solidify BigID's position as a leader in the data security market, leveraging its platform to unify fragmented and complex markets in data security, privacy, compliance, and governance.
Future fundraising opportunities seem promising as BigID continues to scale both organically and inorganically. The recent $60 million growth round, bringing total funding to $320 million, indicates strong investor confidence. However, the company must navigate the complexities of a rapidly evolving technological landscape, ensuring compliance with global data protection regulations and maintaining its competitive edge in a crowded market.
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