BigID, the US-Israeli company helping enterprises with data privacy and protection, announced on Monday that it raised $50 million in Series D funding from investment group Tiger Global Management.
The infusion of capital comes less than four months after the firm raised the same amount in a Series C round in September 2019.
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The funds will be used to deliver new products in the privacy and protection of personal data along with the expansion of go-to-market strategies across the globe, the company said in a statement.
The new round brings the company’s total funding to $144 million to date. Prior to the Series C round in September, the company raised $14 million in a Series A round in January 2018 and $30 million in a Series B round in June 2018.
Founded in 2016, BigID uses advanced machine learning and identity intelligence to help enterprises better protect their customer and employee data, while complying with global data privacy regulations like the California Consumer Privacy Act (CCPA,) set to become law in 2020, and the
General Data Protection Regulation (GDPR,) a regulation in EU law on data protection and privacy for all individual citizens of the European Union and the European Economic Area.
BigID has introduced the first data access request fulfillment technology into the privacy market for automating CCPA and GDPR data rights.
The company, which is based in New York and Israel, has offices in Tel Aviv, Paris, and London.
“Since starting in 2016, BigID has aimed to rethink how organizations provide data accountability to their customers through more intelligent data accounting,” said Dimitri Sirota, CEO and co-founder of BigID. “Before BigID, data privacy was largely about policy and process. BigID put data at the center, 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,” Sirota added. It “positions the company to maintain its innovation leadership for years to come.”