Data protection company BigID has raised up to $50m in a new funding round.
The RegTech has registered the funding through a US Securities and Exchange filing. It is unclear whether the $50m figure is the hardcap of the round or a milestone.
There was a total of nine investors to take part in the round; however, it is not specified who these were.
Last year, the company collected $30m in its Series B round which was led by Scale Venture Partners. Other investors to the round were ClearSky Security, Comcast Ventures, BOLDstart Ventures, Information Venture Partners and the SAP.iO Fund.
The US-based RegTech startup helps companies understand their customers better by improving the access to customer data. Its solutions include data mapping, data labelling, access intelligence, GDPR, CCPA, and PII Discovery tools, as well as others.
Its AI technology can identify a person’s data across all systems, both on-premise and cloud, and identify any hidden relationships or uncatalogued information.
To support compliance with data-based regulations like GDPR, BigID gives businesses a centralised view into personal and private data distributed across multiple data repositories. Tools include consent management, data residency, data subject rights and breach notifications.
North America’s dominance of RegTech investment deals has slowly been declining since 2014, RegTech Analyst data shows. Between 2014 and 2018, the region’s share of deal activity has dropped down from 67.2 per cent to just 51.2 per cent.
However, Q1 2019 has seen a resurgence in the market. North America was responsible for 66.6 per cent of deals.
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