BigID Closes $60 Million in Funding

by Kay Aloha Villamor in March 21st, 2024

BigID, a New York-based AI-augmented data security, compliance, and privacy platform for modern cloud-first enterprises, has closed a $60 million growth funding, bringing its total capital raised to $320 million at a valuation of over $1 billion.    

SaaS Investors 

The growth round was led by Riverwood Capital, with participation from Silver Lake Waterman and Advent.    

Founded in 2008, Riverwood Capital is a venture capital firm that invests in high-growth companies in technology and technology-enabled industries. The firm seeks to invest in established businesses with proven technology and business models, as well as a proper fit in terms of culture and values. The firm has offices in Menlo Park, CA; Miami, FL; New York, NY; and São Paulo, Brazil.    

BigID Use of Funds  

The company intends to use the funds to further develop its platform, enhancing capabilities for data hygiene, discovery, staging, enrichment, and controls for detecting and tracking model access to sensitive data. The funding enables BigID to continue its mission of providing comprehensive solutions for enterprise data management and security.    

About BigID   

BigID is a software company that provides data security and compliance for the public and private cloud, helping to define new data security product categories like DSPM (Data Security Posture Management) and redefining categories like Data Discovery, Data Classification, Data Loss Prevention, and Data Access Management. The company's platform covers structured, unstructured, and semi-structured data across environments in the public cloud, SaaS, and on-premise data centers. The platform unifies a fragmented and complex market with a single solution, addressing data discovery, classification, management, and security. BigID empowers organizations to understand their enterprise data and take action for data-centric security, privacy, compliance, AI innovation, and governance.     

Funding Details               

Company: BigID, Inc.    

Raised: $60.0M    

Round: Growth Round    

Funding Month: March 2024                        

Lead Investors: Riverwood Capital    

Additional Investors: Silver Lake Waterman, Advent    

Company Website:    

Software Category: Data Security    





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