The $60 million growth funding round, which included Advent and Silver Lake Waterman and was led by Riverwood Capital, has been completed, according to the Israeli data security startup BigID.
This raises the company’s overall fundraising to $320 million. According to BigID, the financing was closed at a valuation of more than $1 billion. It finished a funding round in 2021 with a $1.25 billion value.
Read aslo – India’s Pocket FM Secures $103M in Series D Funding
It has been at the forefront of data security and compliance for both public and private clouds. It has contributed to the definition of new categories for data security products, such as DSPM (Data Security Posture Management), and has redefined others, such as data classification, data discovery, data loss prevention, and data access management.
Read also – Mobility Fintech Moove Secures USD 100 Million in Series B Round Funding
In 2016, CEO Dimitri Sirota and CPO Nimrod Vax established BigID. The majority of the company’s development is done in Tel Aviv, but its headquarters are in New York.
Sirota said, “In five years it has grown from first customer to almost $100M in recurring revenue, helping global enterprises meet their expanding data security, compliance, privacy and governance needs in the hybrid cloud. With corporate attention now turning to enabling responsible and trusted AI, it is uniquely-positioned to help companies address the novel challenges of unstructured training data, including quality, bias, privacy, access, sovereignty and more. This funding gives it additional capital to accelerate and scale organic and inorganic growth.”
About BigID
BigID gives businesses the ability to understand their company data and take appropriate action for data-centric security, privacy, and AI innovation as well as governance. Customers use it to proactively find, manage, safeguard, and increase the value of their sensitive, private, and regulated data across their entire data environment.
