BigID Secures $60M in Growth Funding for AI Data Security
March 19, 2024, 3:31 pm
BigID, a NYC-based AI-augmented data security company, recently announced a successful $60M growth funding round led by Riverwood Capital, with participation from Silver Lake Waterman and Advent. This funding brings their total capital raised to $320M, solidifying their valuation at over $1B.
BigID, under the leadership of CEO Dimitri Sirota, focuses on empowering organizations to understand and protect their enterprise data, ensuring data-centric security, privacy, compliance, AI innovation, and governance in both public and private cloud environments. Their innovative solutions help customers proactively manage and derive value from their regulated, sensitive, and personal data across their data landscape.
The company's recent introduction of new data hygiene capabilities for the generative AI data pipeline and enhanced controls for detecting and tracking model access to sensitive data showcases their commitment to advancing AI data security and compliance. With the growing emphasis on responsible and trusted AI, BigID is well-positioned to assist companies in addressing the unique challenges posed by unstructured training data.
Dimitri Sirota expressed his excitement about the funding, stating that it will enable BigID to accelerate and scale both organic and inorganic growth. The company's rapid growth, from its first customer to nearly $100M in recurring revenue in just five years, highlights the increasing demand for their comprehensive data security and compliance solutions in the hybrid cloud environment.
Riverwood Capital's Co-Founder and Managing Partner, Francisco Alvarez-Demalde, praised BigID's platform for unifying the complex market of data security, privacy, compliance, and governance into a single solution. He emphasized the importance of addressing new complexities faced by enterprises, such as data proliferation, cybersecurity risks, AI adoption, cloud integration, and evolving regulatory pressures.
Silver Lake Waterman's Managing Director, Shawn O'Neill, commended BigID for building a leading data-centric security platform that helps protect critical enterprise data in the era of generative AI. He expressed enthusiasm for further collaboration with BigID to drive continued success in the evolving cybersecurity landscape.
Overall, BigID's successful funding round underscores the growing importance of AI-driven data security and compliance solutions in today's rapidly evolving digital landscape. With a strong focus on innovation and customer value, BigID is poised to continue leading the way in data protection and governance for modern enterprises.
BigID, under the leadership of CEO Dimitri Sirota, focuses on empowering organizations to understand and protect their enterprise data, ensuring data-centric security, privacy, compliance, AI innovation, and governance in both public and private cloud environments. Their innovative solutions help customers proactively manage and derive value from their regulated, sensitive, and personal data across their data landscape.
The company's recent introduction of new data hygiene capabilities for the generative AI data pipeline and enhanced controls for detecting and tracking model access to sensitive data showcases their commitment to advancing AI data security and compliance. With the growing emphasis on responsible and trusted AI, BigID is well-positioned to assist companies in addressing the unique challenges posed by unstructured training data.
Dimitri Sirota expressed his excitement about the funding, stating that it will enable BigID to accelerate and scale both organic and inorganic growth. The company's rapid growth, from its first customer to nearly $100M in recurring revenue in just five years, highlights the increasing demand for their comprehensive data security and compliance solutions in the hybrid cloud environment.
Riverwood Capital's Co-Founder and Managing Partner, Francisco Alvarez-Demalde, praised BigID's platform for unifying the complex market of data security, privacy, compliance, and governance into a single solution. He emphasized the importance of addressing new complexities faced by enterprises, such as data proliferation, cybersecurity risks, AI adoption, cloud integration, and evolving regulatory pressures.
Silver Lake Waterman's Managing Director, Shawn O'Neill, commended BigID for building a leading data-centric security platform that helps protect critical enterprise data in the era of generative AI. He expressed enthusiasm for further collaboration with BigID to drive continued success in the evolving cybersecurity landscape.
Overall, BigID's successful funding round underscores the growing importance of AI-driven data security and compliance solutions in today's rapidly evolving digital landscape. With a strong focus on innovation and customer value, BigID is poised to continue leading the way in data protection and governance for modern enterprises.