Israeli cybersecurity company BigID has announced that it has raised $50 million in a Series C financing round led by Bessemer Venture Partners, and with participation from existing investors SAP.io Fund, Comcast Ventures, Boldstart Ventures, Scale Venture Partners and ClearSky, as well as new investor Salesforce Ventures. Alex Ferrara, partner at Bessemer Venture Partners, will join the BigID board.
The data-centric personal data privacy and protection company helps enterprises comply with global privacy regulation and meet their data protection needs.
BigID has also released a new version of its platform, BigID Enterprise, which has been 18 months in development and builds on BigID’s AI innovations in data analysis for privacy.
Based in Tel Aviv and New York, BigID has now raised nearly $100 million in the last 18 months and has 150 employees globally. The company was founded by CEO Dimitri Sirota and CPO Nimrod Vax. The new funds will help BigID meet the growing demand for its technology, expand global sales and engineering and introduce new products for data privacy, data governance and protection.
BigID is the first data intelligence platform that helps organizations get detailed insight into what and whose data they collect and process. Using BigID’s suite of products, enterprises can find, classify, inventory and map all their sensitive data and automate critical data privacy, protection and governance tasks like personal data rights and data sharing. BigID’s AI tools allow companies to comply with global data privacy regulations and be better privacy stewards for their customers.
Sirota said, “While we weren’t looking for new funding and hadn’t even touched our Series B, the added capital infusion provided us a way to bring forward our product and expansion plans while delivering our global clients, unmatched worldwide support and service. 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.”
“In the last few years, privacy has emerged as a rapidly expanding technology category like security did two decades ago,” said Alex Ferrara, Partner, Bessemer Venture Partners. “After spending considerable time looking at the vendor landscape we saw BigID as an emerging winner in the area of data-centric privacy and protection. BigID’s sales momentum, rapid revenue and customer growth, amazing team and technology drove our investment and will solidify the company as the undisputed leader in the space.”
Published by Globes, Israel business news - en.globes.co.il - on September 8, 2019
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