BigID, a US-based data protection software developer backed by corporates Comcast, Salesforce and SAP, has added $30m from private equity firm Advent International to a series D round now standing at $100m.
The deal came after the company secured $70m in a first tranche co-led by Salesforce Ventures, the corporate venturing arm of enterprise software producer Salesforce, and hedge fund manager Tiger Global Management in December 2020.
Glynn Capital, Bessemer Venture Partners, Scale Venture Partners and Boldstart Ventures also took part in the first close. The extension increased BigID’s funding to over $246M and valued it at $1.3bn.
BigID has built a data intelligence platform that helps businesses aggregate, manage and protect their regulated, sensitive and personal data. It will use the funding to support its product development and go-to-market activities.
The company received $50m from Tiger Global in January 2020, following a $50m series C round in September 2019 backed by Salesforce Ventures as well as SAP.io and Comcast Ventures, on behalf of enterprise software provider SAP and mass media group Comcast respectively.
Bessemer Venture Partners led the series C round, which also featured Boldstart Ventures, Scale Venture Partners and ClearSky Security. BigID had raised $30m in a mid-2018 series B round led by Scale Venture Partners that included SAP.io, Comcast Ventures, IVP Boldstart Ventures and ClearSky.
Comcast Ventures, SAP.io, Boldstart Ventures and ClearSky Security had taken part in the company’s $14m series A round earlier that year. It had secured $2.1m of seed funding from Boldstart Ventures, Deep Fork Capital and Genacast Ventures in 2016.