The entire funding came from Tiger Global management. The company aims to deliver new products in privacy and protection of personal data with the newly raised capital. The company also aims the expansion of go-to-market strategies across the globe
Fremont, CA: After raising $50 million in Series C in the month of September, BigID, the leader in privacy-oriented data discovery, automation, and intelligence, has raised another $50million on 6th January. The entire funding came from Tiger Global management. The company aims to deliver new products in the privacy and protection of personal data with the newly raised capital. The company also aims the expansion of go-to-market strategies across the globe. With this funding, the total amount raised by BigID reached $144 million.
BigID is successful in raising $100 million in just four months because of its mission to understand the data a company manages in the context of increasing privacy regulation, including CCPA in California and GDPR in Europe.
BigID CEO and co-founder Dimitri Sirota acknowledges that his company hit the floor at the perfect moment when it was launched in 2016, but his co-founders and he had a suspicion that there would be a shift in how governments sees the data privacy aspect.
"Since starting in 2016, BigID has aimed to rethink how organizations provide data accountability to their customers through more intelligent data accounting," explained Dimitri Sirota. "Before BigID, data privacy was largely about policy and process. BigID put data at the center, redefining how enterprises find, manage and protect their most important asset: their customer and employee data. The new funding reflects the success BigID has achieved with customers and partners in a few short years and positions the company to maintain its innovation leadership for years to come," he added.
Sirota confesses that the company wasn't looking to raise either the C or the D, and in fact, the raised money of series B is still in the bank. He didn't want to lose the opportunity when big investors themselves want to invest money on decent terms. These investors can undoubtedly see the data privacy landscape intensifying and want to get involved. He said he is aware of the economic conditions that can change quickly, and it can't hurt to have money in the bank for when that happens.