BigID, a US-based enterprise data protection and privacy software developer, has raised $30m in its series B round, from a consortium including corporate venturing units Comcast Ventures and SAP.iO Fund.
The units, subsidiaries of mass media group Comcast and enterprise software provider SAP, were joined by venture capital firms Scale Venture Partners, which led the round, ClearSky Security, Boldstart Ventures and Information Venture Partners.
BigID has built a cybersecurity platform that utilises advanced machine learning and identity intelligence technology to help enterprise customers secure customer and employee data.
The round took BigID’s total funding to $46.1m to date and closed in the wake of a $14m series A in February this year featuring Comcast Ventures, SAP.iO, Boldstart Ventures and ClearSky Security.
The company had originally received $2.1m from Genacast Ventures, a VC partnership between Comcast Ventures and entrepreneur Gil Beyda, as well as Boldstart Ventures and Deep Fork Capital in 2016.
The latest investment came after BigID was named “Most Innovative Startup” at the 2018 RSA Innovation Sandbox contest.
Dimitri Sirota, chief executive of BigID, said: “Managing privacy to date has been based on policies and processes, not product.
“Our series B round validates our unique approach to privacy management that takes into account not just what data enterprises are collecting and processing, but most importantly, whose data it is.”