Israeli enterprise data protection and privacy company BigID today announced that it has raised $30 million in Series B funding, less than five months after completing its $14 million Series A round. The financing round was led by new investor Scale Venture Partners with participation from previous investors ClearSky Security, Comcast Ventures, BOLDstart Ventures, Information Venture Partners and the SAP.iO Fund. The oversubscribed round brings BigID’s total funding to date to $46.1 million.
BigID will use the funding to scale go-to-market and accelerate product introductions as its platform emerges as a standard for data-driven enterprise privacy management and personal data protection. Based in the US with engineering headquarters in Tel Aviv, Israel and a European office in London, BigID was founded by veterans of the identity, data protection and big data markets. The BigID platform leverages machine learning and identity intelligence to transform how enterprises find, protect and govern personal data at scale. The BigID technology helps organizations replace inaccurate survey and spreadsheet-based privacy compliance with data-centric enterprise privacy management to help global companies meet emerging privacy and data protection regulations like the EU’s General Data Protection Regulation (GDPR).
BigID CEO Dimitri Sirota said, “Privacy has become a defining 21st century social and corporate issue, but it’s hard to ensure - even for the most sophisticated companies. Managing privacy to date has been based on policies and processes; not product. Our Series B round validates our unique approach to privacy management that takes into account not just what data enterprises are collecting and processing, but most importantly, whose data it is. We look forward to leveraging Scale Venture Partners’ proven track record to help us grow rapidly as companies race to comply with myriad regulations that are now impacting organizations around the world.”
“Our latest annual survey of C-level executives found that data privacy and lack of privacy controls are an increasingly pressing concern,” said Ariel Tseitlin. “With the advent of the GDPR, more companies are shifting from manual and survey-based compliance to data-centric automation and operationalization. BigID’s advanced privacy automation technology provides enterprises a first-of-its-kind ability to address critical privacy requirements like right to be forgotten and data usage record keeping at petabyte scale, across any data, on-premises or in the cloud.”
Published by Globes [online], Israel business news - www.globes-online.com - on June 25, 2018
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