BigID – a pioneer in AI-augmented data security, compliance, and privacy for modern cloud-first enterprises – announced that it closed a $60 million growth round led by Riverwood Capital with participation by Silver Lake Waterman and Advent.
Considering GenAI’s momentum, enterprises have been rushing to launch new initiatives that drive productivity behind novel use cases utilizing documents, images, code, chats, and other types of unstructured/structured data.
BigID has pioneered the concept of universal data security, compliance, and privacy for any data type—including structured, unstructured, and semi-structured—in various environments in the public cloud, SaaS, and on-premise data centers. And considering BigID’s extensible platform, it has helped drive customer return on investment as enterprises build their modern data infrastructure.
Advancing deep domain experience in the classification, compliance and contextualization of unstructured data, BigID introduced new data hygiene capabilities for the GenAI data pipeline from discovery through staging and enrichment, and new controls for detecting and tracking model access to sensitive data. BigID accelerates organic and inorganic expansion in AI data security and compliance with this latest funding round.
KEY QUOTES:
“In five years BigID has grown from first customer to almost $100M in recurring revenue, helping global enterprises meet their expanding data security, compliance, privacy and governance needs in the hybrid cloud. With corporate attention now turning to enabling responsible and trusted AI, BigID is uniquely-positioned to help companies address the novel challenges of unstructured training data, including quality, bias, privacy, access, sovereignty and more. This funding gives BigID additional capital to accelerate and scale organic and inorganic growth.”
- Dimitri Sirota, CEO and Co-founder of BigID
“We have long admired the platform Dimitri and the BigID team have built which unifies a fragmented and complex market with a single solution to help organizations action their enterprise data across security, privacy, compliance and governance. We are excited to partner with what we consider to be a category leader with a software platform that can address data discovery, classification, management and security, as enterprises are increasingly faced with new complexities like the proliferation of data and cybersecurity risks, adoption of AI, role of the cloud, and evolving regulatory pressures.”
- Francisco Alvarez-Demalde, Co-Founder and Managing Partner, Riverwood Capital
“The exponential growth of generative AI is driving new cybersecurity needs, and the BigID team has built a leading data-centric security platform that sits at the core of enterprises to help protect their most critical data. We have enjoyed building our relationship with Dimitri and the BigID leadership team over the past five years and look forward to partnering and helping drive further success.”
- Shawn O’Neill, Managing Director and Group Head of Silver Lake Waterman
