Israeli cyber security startup, BigID, announced it raised a $60 million Series E funding round today, led by Riverwood Capital. The round saw participation from Silver Lake Waterman and Advent Tech, and notched their total funding up to $320 million.
The round was valued at "over $1 billion," according to the startup, a level it reached in it's Series D valuation as well, which closed in two tranches back in April 2021.
The startup also mentioned reaching near $100 million in Annual Recurring Revenues (ARR), a milestone reached by only the elite startups (known as Centaurs), and a hallmark of exceptional business growth.
The infusion of funds comes as BigID continues to redefine data security, compliance, and privacy across cloud, SaaS, and on-premise data centers. Their innovative approach has led to the development of a universal data security platform that caters to structured, unstructured, and semi-structured data. The company's recent advancements include new tools for data hygiene in AI data pipelines, enhancing the safety and efficiency of Generative AI applications.
With the new capital round, BigID aims to accelerate its growth organically and through strategic acquisitions. The funding is earmarked to propel BigID's expansion in the AI data security and compliance sectors.
BigID has been recognized for its groundbreaking work in data intelligence and has received numerous accolades, including CNBC's 2022 Top 25 Startups for the Enterprise and Forbes Cloud 100 of 2021. The startup's CEO, Dimitri Sirota, notes the critical timing of this investment, as BigID is uniquely poised to assist enterprises in managing the complexities of unstructured training data for AI, fostering responsible and trusted AI development.
