BigID, a provider of enterprise data protection and privacy solutions, has raised $30m in Series B funding.
The round, which brings the company’s total funding to date to $46.1m, was led by new investor Scale Venture Partners. It also featured participation from previous investors ClearSky Security, Comcast Ventures, BOLDstart Ventures, Information Venture Partners and the SAP.iO Fund.
As part of the funding, Ariel Tseitlin, partner at Scale Venture Partners, will join the company’s board of directors. The Series B comes less than five months after completing its $14m Series A round.
“Our latest annual survey of C-level executives found that data privacy and lack of privacy controls are an increasingly pressing concern,” said Tseitlin. “With the advent of the GDPR, more companies are shifting from manual and survey-based compliance to data-centric automation and operationalisation. 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.”
Based in New York and Tel Aviv with a European office in London, BigID uses advanced machine learning and identity intelligence to help enterprises protect their customer and employee data at petabyte scale.
Its technology helps organisations replace inaccurate survey and spreadsheet-based privacy compliance with data-centric enterprise privacy management. It helps enterprises to find, protect and govern personal data at scale and meet emerging privacy and data protection regulations like the EU’s General Data Protection Regulation (GDPR).
“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.”
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
