BigID — a leader in data discovery and intelligence for privacy, protection and perspective — announced a $30 million investment from Advent International, extending the company’s $70 million Series D financing raised in December 2020. And BigID has raised $200 million over 4 rounds since September 2019. This latest funding round brings BigID’s valuation to $1.25 billion.
The pandemic accelerated all automation and digital transformation programs by several years as companies recognize the importance of innovating, placing increased pressure on IT leaders to deliver digital initiatives and overcome issues such as data silos. And BigID’s platform reimagines data management for enterprises, combining machine learning-based classification, cataloging, correlation, and cluster analysis to help companies better understand, protect, and derive value from their data. This funding will help BigID expand globally, boost its go-to-market efforts and advance product development in the areas of data privacy, security, and governance.
Advent International is joining BigID’s existing investors including Salesforce Ventures, Tiger Global Management, Glynn Capital, Bessemer Venture Partners, Scale Venture Partners, and Boldstart Ventures.