Investment firm Tiger Global Management has invested $50m in BigID, a US-based data protection platform developer backed by mass media group Comcast and enterprise software providers SAP and Salesforce.
BigID has built software that makes use of machine learning and identity intelligence technology to enable organisations to safeguard employee and user data on a vast scale. It will spend the cash on launching new products and commercialising its products globally.
Dimitri Sirota, BigID’s co-founder and chief executive, said: “Before BigID, data privacy was largely about policy and process. BigID put data at the centre, redefining how enterprises find, manage and protect their most important asset: their customer and employee data.
“The new funding reflects the success BigID has achieved with customers and partners in a few short years and positions the company to maintain its innovation leadership for years to come.”
Genacast Ventures, the venture capital partnership between Comcast and entrepreneur Gil Beyda, joined Boldstart Ventures and Deep Fork Capital to provide $2.1m in seed funding for BigID in 2016.
The company added $14m in a February 2018 series A round featuring corporate venturing units Comcast Ventures and SAP.iO Fund, Boldstart Ventures and ClearSky Security. All four returned four months later for a $30m series C led by Scale Venture Partners that included Information Venture Partners.
Bessemer Venture Partners led BigID’s $50m series D round in September 2019, investing with Salesforce subsidiary Salesforce Ventures, Comcast Ventures, SAP.io Fund, Boldstart Ventures, Scale Venture Partners and ClearSky.
