BigID Inc., a leader in enterprise data protection and privacy, today announced that it has raised $30 million in Series B funding, less than five months after completing its $14 million Series A round. Led by new investor Scale Venture Partners with participation from previous investors ClearSky Security, Comcast Ventures, BOLDstart Ventures, Information Venture Partners and the SAP.iO Fund, the oversubscribed round brings BigID’s total funding to date to $46.1 million. BigID will use the funding to scale go-to-market and accelerate product introductions as its platform emerges as a standard for data-driven enterprise privacy management and personal data protection
BigID also announced that Ariel Tseitlin, partner at Scale Venture Partners, joins the company’s board of directors. The investment follows BigID establishing itself as the clear leader in data-driven privacy automation after being named “Most Innovative Startup” at the 2018 RSA Innovation Sandbox contest and a CB Insights 2018 Cyber Defender company transforming cybersecurity. BigID was recognized as a 2018 Gartner Cool Vendor in Privacy Management.
Based in the U.S. with engineering headquarters in Tel Aviv, Israel and a European office in London, BigID was founded by veterans of the identity, data protection and big data markets. The BigID platform leverages machine learning and identity intelligence to transform how enterprises find, protect and govern personal data at scale. The BigID technology helps organizations replace inaccurate survey and spreadsheet-based privacy compliance with data-centric enterprise privacy management to help global companies meet emerging privacy and data protection regulations like the EU’s General Data Protection Regulation (GDPR).
“Our latest annual survey of C-level executives found that data privacy and lack of privacy controls are an increasingly pressing concern,” said Ariel Tseitlin. “With the advent of the GDPR, more companies are shifting from manual and survey-based compliance to data-centric automation and operationalization. BigID’s advanced privacy automation technology provides enterprises a first-of-its-kind ability to address critical privacy requirements like right to be forgotten and data usage record keeping at petabyte scale, across any data, on-premises or in the cloud.”
According to Gartner1, “Awareness of privacy risk as well as of the need to comply with strengthened regulatory requirements worldwide has driven technology and service providers (TSPs) to create new solutions and integration options for various capabilities.”
“Privacy has become a defining 21st century social and corporate issue, but it’s hard to ensure – even for the most sophisticated companies,” said Dimitri Sirota, CEO at BigID. “Managing privacy to date has been based on policies and processes; not product. Our Series B round validates our unique approach to privacy management that takes into account not just what data enterprises are collecting and processing, but most importantly, whose data it is. We look forward to leveraging Scale Venture Partners’ proven track record to help us grow rapidly as companies race to comply with myriad regulations that are now impacting organizations around the world.”
To download the full complimentary copy of Gartner Cool Vendors in Privacy Management, visit https://bigid.com/gartner-cool-vendor-privacy/.