Israeli privacy-oriented data discovery, intelligence and automation company BigID today announced that it has raised $50 million in new funding from Tiger Global, less than four months after previously raising a $50 million Series C financing round.
BigID says that the latest financing round comes after it received 'offers it could not refuse" from additional investors. According to IVC, the company's valuation in its financing round four months ago was $350 million. No valuation has been disclosed by BigID for this new financing round. The company has raised $144 million since it was founded in 2016 and investors include Bessamer Ventures, Boldstart Ventures, ClearSky and SAP.
BigID, which was founded by CEO Dimitri Sirota and CPO Nimrod Vax, has 150 employees of whom 60 are in Israel. The company uses advanced machine learning and identity intelligence to help enterprises better protect their customer and employee data at petabyte scale. Using BigID, enterprises can better safeguard and assure the privacy of their most sensitive data, reducing breach risk and enabling compliance with emerging data protection regulations like the EU’s General Data Protection Regulation and California Consumer Privacy Act.
The company says that the new funds raised will be used to deliver new products in privacy and protection of personal data along with expansion of market strategies worldwide.
Sirota said, "Since starting in 2016, BigID has aimed to rethink how organizations provide data accountability to their customers through more intelligent data accounting. Before BigID, data privacy was largely about policy and process. BigID put data at the center, redefining how enterprises find, manage and protect their most important asset: their customer and employee data. The new funding reflects the success BigID has achieved with customers and partners in a few short years and positions the company to maintain its innovation leadership for years to come."
Published by Globes, Israel business news - en.globes.co.il - on January 6, 2020
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