BigID, a pioneer in AI-augmented data security, compliance, and privacy for modern, cloud-first enterprises, is announcing the closure of its $60 million growth round led by Riverwood Capital with participation by Silver Lake Waterman and Advent. This funding will contribute toward the company’s mission to provide universal data security, compliance, and privacy across any data type, especially as it relates to generative AI (GenAI).
Revolutionizing the process of creating data security products purpose-built for specific data types, BigID offers an extensible platform to protect data—whether it’s structured, unstructured, or semi-structured—throughout public cloud, SaaS, and on-prem data environments. This widespread protection is particularly relevant amid GenAI hype, where organizations are seeking to improve productivity for various types of data, according to the company.
In addition to its holistic data protection, BigID has introduced new data hygiene functionality for GenAI pipelines across discovery, staging, and enrichment phases. The company has also implemented new controls for detecting and tracking model access to sensitive data.
"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," said Dimitri Sirota, CEO and co-founder of BigID. "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."
"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," said Francisco Alvarez-Demalde, co-founder and managing partner at Riverwood Capital. "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."
To learn more about BigID, please visit https://bigid.com/.