US-based enterprise data protection software developer BigID has attracted $50m in a series C round featuring mass media group Comcast and enterprise software producers SAP and Salesforce.
The round was led by venture capital firm Bessemer Venture Partners (BVP) and included Boldstart Ventures, Scale Venture Partners and ClearSky, while the corporates invested through respective subsidiaries Comcast Ventures, SAP.io Fund and Salesforce Ventures.
The size of the deal was disclosed in a July 2019 regulatory filing but the round’s participants had not been disclosed until now.
Founded in 2016, BigID supplies artificial intelligence-equipped software tools that are used by enterprise customers to organise and classify sensitive data to comply with data privacy regulations.
The software relies on machine learning and big data analytics to index data, facilitating information searches based on parameters such as country of origin.
BigID launched a premium variant of its product with enhanced AI-driven insights at the same time as it announced the series C round. It has now raised approximately $96m altogether and the proceeds will support product development while also increasing headcount at its sales and engineering teams.
Although it has raised new funding, BigID is yet to spend any of its series B capital, according to CEO and co-founder Dimitri Sirota. Alex Ferrara, partner at BVP, will join BigID’s board of directors in conjunction with the round.
Comcast Ventures and SAP.io Fund backed the company’s $30m series B round in June 2018. It was led by Scale Venture Partners and included ClearSky Security, Boldstart and IVP.
BigID had previously received $14m in a February 2018 series A round featuring Comcast Ventures, SAP.io Fund, ClearSky Security and Boldstart. It followed $2.1m from Genacast Ventures – a VC partnership between Comcast and entrepreneur Gil Beyda – Boldstart and Deep Fork Capital in 2016.