Israeli-founded data privacy and protection firm BigID has announced that it raised $30 million from Advent Tech, the investment arm of Advent International, one of the largest and most experienced global private equity investors. This brings the company’s valuation to $1.25 billion. This financing round extends the company’s $70 million Series D round raised in December 2020.
In total, BigID has raised $200 million over four rounds since September 2019.
Advent International joins BigID’s existing investors including Salesforce Ventures, Tiger Global Management, Glynn Capital, Bessemer Venture Partners, Scale Venture Partners and Boldstart Ventures.
BigID, a startup founded by Nimrod Vax and Dimitri Sirota in 2016, helps enterprises protect their data in line with privacy regulations. The company 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) and 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.
This additional funding will help BigID expand globally, boost its go-to-market efforts and advance product development in the areas of data privacy, security, and governance.
“We believe the BigID platform offers a powerful solution to enterprises as they help global organizations manage and extract value from their data while grappling with the dual threats of data privacy and data security,” said Ashwin Krishnan, a principal on Advent’s technology team in New York. “We’ve been impressed by BigID’s product, its traction in the marketplace, and the talented team behind it all. We see significant opportunity to extend BigID’s offering and accelerate its growth on a global scale, and we’re excited to support the team on this journey.”
“We’re thrilled to work with Advent International and tap into their sector expertise and global footprint to drive future growth,” said Sirota, who serves as CEO. “The boom in data continues to present multiple challenges for enterprises – especially with the new tech stack. We believe our unified data intelligence platform is uniquely positioned to ensure businesses tackle their data management pain points by providing increased knowledge and visibility of their data, enabling them to meet regulatory requirements, ensure their data is secure and lay the groundwork to reap the rewards of business intelligence.”