BigID announces $30 million extension; CEO says “seen broader economic recovery”

SaaS News -BigID-boosts-Series-D-to-$100M(source: SaaS Industry)
At a Glance

BigID, a data intelligence company, announced a $30 million extension on their Series D funding that was made a year ago. The company is now valued at $1.25 billion. The $70 million Series D funding took place late last year, and the company was valued at $1 billion.

According to BigID, the extension came from Advent International, a private equity company based in Massachusetts, and this makes BigID’s total $200 million across four rounds. By developing a security and privacy platform, the late-stage startup is able to attract all of this funding.

During the company’s Series C funding in September 2019, Dimitri Sirota, the CEO, said they had broken the product down into its component bits. Although it’s still marketed as a broad-based [privacy and security] solution, it’s now more of a framework and has a core collection of features that customers want.

He said, “Since December, we’ve added employees as we’ve seen broader economic recovery and increased demand. In tandem, we have been busy building a whole host of new products and offerings that we will announce over the coming weeks that will be transformational for BigID.”
Ashwin Krishnan, a principal on Advent’s technology team in New York, said that BigID was specifically associated with two patterns that his firm has been watching, which are an increase in the amount of data collected, as well as a greater emphasis on handling and protecting the data to eventually use it to make informed decisions.

When we met with Dimitri and the BigID team, we immediately knew we had found a company with a powerful platform that solves the most challenging problem at the center of these trends and the data question

Ashwin Krishnan

Boldstart Ventures, Bessemer Venture Partners, and Tiger Global have all invested in the business in the past. Comcast Ventures, Salesforce Ventures, and are among the strategic investors.

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