AAA BigID becomes unicorn through $70m series D

BigID becomes unicorn through $70m series D

BigID, a US-based developer of data protection software, has received $70m in a series D round co-led by Salesforce Ventures, the corporate venturing unit for enterprise software provider Salesforce.

Hedge fund manager Tiger Global Management co-led the round, which also featured Glynn Capital, Bessemer Venture Partners, Scale Venture Partners and Boldstart Ventures. It increased the total raised by the company to more than $216m, and its valuation to over $1bn.

Founded in 2016, BigID provides software that uses machine learning and identity intelligence technology to help enterprise customers protect and manage regulated, sensitive or personal data. It also helps businesses comply with data privacy regulations such as GDPR and CCPA.

BigID had previously collected $50m from Tiger Global in January this year. The latest funding will be used to invest in its data intelligence platform, expand its sales and marketing capabilities and develop new applications.

The company received $50m in a September 2019 series C round featuing SAP.io Fund, Salesforce Ventures and Comcast Ventures, investing on behalf of enterprise software providers SAP and Salesforce, and mass media group Comcast respectively.

Bessemer Venture Partners led the 2019 round and was joined by Boldstart Ventures, Scale Venture Partners and ClearSky. It came after Scale Venture Partners led a $30m series B round in June 2018, investing with SAP.io Fund, Comcast Ventures, Boldstart Ventures, ClearSky Security and Information Venture Partners.

Comcast Ventures, SAP.io Fund, Boldstart Ventures and ClearSky Security had participated in a $14m series A round for the company in February the same year. It followed $2.1m in seed funding from Boldstart Ventures, Deep Fork Capital and Genacast Ventures in 2016.

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