BigID, a prominent data security and compliance solutions provider, has successfully raised $60 million in a growth funding round, elevating its total financing to $320 million and facilitating a valuation exceeding $1 billion. The company, boasting nearly $100 million in recurring revenue, aims to harness this recent funding to support its accelerated and expansive approach to organic and inorganic growth. Riverwood Capital spearheaded this funding round, accompanied by the active participation of Silver Lake Waterman and Advent, signifying a strong display of confidence from the investor community. BigID’s range of offerings spans from data discovery and security posture management to data privacy management, compliance, zero trust, and cloud data loss prevention solutions. Furthermore, the company is strategically delving into AI data security solutions, leveraging the latest investment for its expansion in this area.
BigID’s current emphasis on advancing data hygiene capabilities for generative AI data pipelines and introducing novel controls for detecting and monitoring model access to sensitive data showcases the company’s commitment to pioneering solutions in the data security domain. The company’s achievement of a unicorn valuation in 2020 following a Series D funding round underscores its persistent growth and impact in the data security landscape.
