Data Privacy Software Firm BigID Raises $50 Million

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BigID

BigID, the technology company that develops software for data privacy and safety has announced that it has secured another $50 million in funding. Dubbed in the form of Series C extension, the capital is coming entirely from venture capital firm Tiger Global ManagementBefore this round, the firm had secured $50 million in September last year when Bessemer Venture Partners had led the round. The current infusion takes the total amount raised by the firm to $144 million.

BigID was founded by Dimitri Sirota and Nimrod Vax in 2016. The company leverages advanced machine learning and identity intelligence in order to help enterprises protect their private information of their customers and employees.

Dimitri Sirota, CEO and co-founder of BigID talking about the firm said, “Since starting in 2016, BigID has aimed to rethink how organizations provide data accountability to their customers through more intelligent data accounting. Before BigID, data privacy was largely about policy and process. BigID put data at the centre, redefining how enterprises find, manage and protect their most important asset: their customer and employee data. The new funding reflects the success BigID has achieved with customers and partners in a few short years and positions the company to maintain its innovation leadership for years to come.”

Sirota talking about their plans going forward says that they want to expand beyond the privacy segment and enter in other security dimensions as well. The company has 165 employees in total at the moment but it plans to increase that number to 200 by the mid-year. Apart from its office in New York, the firm has employees in Asia and Europe as well.

 

Image Courtesy : MartechSeries

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