Data protection company BigID has collected $50m in its Series C round, alongside the launch of the latest version of its platform.
The capital injection was led by Bessemer Venture Partners, with participation also coming from existing backers SAP.io Fund, Comcast Ventures, Boldstart Ventures, Scale Venture Partners and ClearSky. Salesforce Ventures also contributed to the round, marking its first investment into BigID.
As part of the deal, Bessemer partner Alex Ferrara will join the BigID board of directors.
Capital from the Series C will be used to meet growing demand for the platform, expand global sales, and release new products for data privacy, data governance, and protection.
BigID is a data intelligence platform which helps organizations get detailed insight into what or whose data they collect and process. Clients of BigID can find, classify, inventory and map their sensitive data and automate critical data privacy, protection, and governance tasks such as data rights and sharing.
Alongside the close of the round, the RegTech has released the latest version of its software which will improve the insight generation and data source coverage, it claims. The new service adds additional context to a company’s data, including answers to important privacy, security and governance questions.
said Dimitri Sirota, CEO, and co-founder of BigID. “Privacy and governance of personal data is a defining 21st-century problem as commerce and communication shift online. However, ensuring the integrity and protection of personal data requires companies go beyond privacy policy and process and deliver customers true data-level accountability and transparency. BigID is quickly establishing itself as a leader here.”
With this round, the company has raised just under $100m in the last 18 months. The RegTech raised $30m in its Series B last year, following investments from Scale Venture Partners, ClearSky Security, Comcast Ventures, BOLDstart Ventures, Information Venture Partners and the SAP.iO Fund.
Copyright © 2018 RegTech Analyst
