BigID, the US-Israeli company helping enterprises with data privacy and protection, announced on Wednesday that it has raised a $70 million Series D financing round, bringing the company’s valuation to over $1 billion.
The round was led by Salesforce Ventures and Tiger Global with participation from Glynn Capital and existing investors Bessemer Venture Partners, Scale Venture Partners, and Boldstart Ventures. The company has raised almost $165 million in just over two years.
The company said this round will help accelerate BigID’s investment in data intelligence for privacy, protection and perspective, further expand sales and marketing, and deliver new applications for actioning data in data privacy, security and governance.
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 is based in New York and Israel and has offices in Tel Aviv, Paris, and London.
“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.”
“It’s a tremendous vote of confidence to have Salesforce Ventures and Tiger Global join Bessemer Venture Partners, Scale, Boldstart Ventures, and Glynn in preempting our series D with this latest investment” said Dimitri Sirota, CEO and co-founder of BigID. “It’s a testament to our traction, team, and vision that we can continue to attract the capital to fuel our data innovation for privacy, protection and perspective.