US-based data protection compliance software developer BigID has closed a $14m series A round backed by mass media group Comcast’s corporate venturing arm, Comcast Ventures, and enterprise software developer SAP’s SAP.iO Fund.
Venture capital firms Boldstart Ventures and ClearSky Security also participated in the round, as did undisclosed additional investors.
BigID’s enterprise software uses machine learning to collate personal data held by businesses about individuals, labelling information according to the personal identity or data source.
The technology is intended to keep BigID’s clients aligned with laws such as the EU’s General Data Protection Regulation (GDPR), which will take effect in May 2018.
The funding will help the company expand its Israel-based engineering activities and ramp up sales and marketing as it looks to accelerate the adoption of its software. It launched its first data protection product aimed at organisations in mid-2017.
Ram Jambunathan, managing director of SAP.iO, said: “We are excited about the potential for BigID to further enhance the ability of SAP customers to discover, map and correlate personal data across their enterprise business applications to orchestrate and automate the GDPR compliance processes.”
BigID has now raised a total of $16.1m in funding. Genacast Ventures, a VC partnership between Comcast Ventures and entrepreneur Gil Beyda, joined Boldstart Ventures and Deep Fork Capital to back a $2.1m round for the company in 2016.
Beyda, who took a managing director position at Comcast Ventures in October 2017, has a board seat at BigID, and has been joined by Jay Leek, managing director of ClearSky Security, as of the series A round.