Israeli data protection company BigID has announced a $30 million investment from private equity fund Advent International, through Advent Tech. This expands the company's $70 million Series D financing raised in December 2020 to $100 million. BigID has raised $244 million to date, and this latest financing brings BigID's valuation to $1.25 billion, up from $1 billion when it previous financing was announced in December.
Advent International joins BigID's existing investors including Salesforce Ventures, Tiger Global Management, Glynn Capital, Bessemer Venture Partners, Scale Venture Partners and Boldstart Ventures.
BigID was founded in 2016 by CEO Dimitri Sirota and CPO Nimrod Vax. The company is headquartered in New York with most of its development carried out in Tel Aviv.
BigID's platform provides data management for enterprises, combining machine learning-based classification, cataloging, correlation, and cluster analysis to help companies better understand, protect, and derive value from their data. This additional funding will help BigID expand globally, boost its marketing efforts and advance product development in the areas of data privacy, security, and governance.
Sirota said, "The boom in data continues to present multiple challenges for enterprises - especially with the new tech stack. We believe our unified data intelligence platform is uniquely positioned to ensure businesses tackle their data management pain points by providing increased knowledge and visibility of their data, enabling them to meet regulatory requirements, ensure their data is secure and lay the groundwork to reap the rewards of business intelligence."
Published by Globes, Israel business news - en.globes.co.il - on April 25, 2021
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