Israeli data security company BigID has announced the completion of a $60 million growth financing round led by Riverwood Capital with participation by Silver Lake Waterman and Advent. This brings the total amount raised by the company to $320 million. BigID said that the round was completed at a valuation of over $1 billion. In 2021, BigID completed a financing round at a valuation of $1.25 billion.
BigID is a pioneer in data security and compliance for the public and private cloud, helping to define new data security product categories like DSPM (Data Security Posture Management) and redefine categories like data discovery, data classification, data loss prevention and data access management.
BigID was founded in 2016 by CEO Dimitri Sirota and CPO Nimrod Vax. The company is headquartered in New York with most of its development carried out in Tel Aviv.
Sirota said, "In five years BigID 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, BigID 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 BigID additional capital to accelerate and scale organic and inorganic growth."
BigID empowers organizations to know their enterprise data and take action for data-centric security, privacy, compliance, AI innovation, and governance. Customers deploy BigID to proactively discover, manage, protect, and get more value from their regulated, sensitive, and personal data across their data landscape.
Published by Globes, Israel business news - en.globes.co.il - on March 20, 2024.
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