BigID Raises $60M for AI Data Security Expansion

BigID, an AI-augmented data security company, has raised $60 million in growth funding to accelerate the expansion of its AI data security and compliance platform. The round, led by Riverwood Capital with Silver Lake Waterman and Advent participation, brings BigID’s total capital raised to $320 million, valuing the company at over $1 billion.

The AI-augmented data security startup, under CEO Dimitri Sirota’s leadership, enables organizations to understand their enterprise data landscape and implement measures for data-centric security, privacy, compliance, AI innovation, and governance. The company’s platform assists customers in proactively discovering, managing, protecting, and deriving value from their regulated, sensitive, and personal data across various environments.

“In five years, we have grown from the first customer to almost $100M in recurring revenue, helping global enterprises meet their expanding data security, compliance, privacy and governance needs in the hybrid cloud,” said Dimitri Sirota, CEO and Co-founder of BigID.

“With corporate attention now turning to enable responsible and trusted AI, the company is uniquely positioned to help companies address the novel challenges of unstructured training data, including quality, bias, privacy, access, sovereignty and more. This funding gives BigID additional capital to accelerate and scale organic and inorganic growth,” added Sirota.

Innovative Solutions for Data Protection

BigID’s innovative approach to data security involves the utilization of generative AI to handle diverse data types, including structured, unstructured, and semi-structured data, across public cloud, SaaS, and on-premise data centers.

Meanwhile, the company’s recent introduction of new data hygiene capabilities enhances the AI data pipeline by ensuring clean data from discovery through staging and enrichment. Additionally, BigID has implemented new controls to detect and track model access to sensitive data, further bolstering its data protection offerings.

BigID team have built a platform which unifies a fragmented and complex market with a single solution to help organizations action their enterprise data across security, privacy, compliance and governance,” said Francisco Alvarez-Demalde, Co-Founder and Managing Partner, Riverwood Capital.

“The software platform can address data discovery, classification, management and security, as enterprises are increasingly faced with new complexities like the proliferation of data and cybersecurity risks, adoption of AI, the role of the cloud, and evolving regulatory pressures,” he added.

Accelerating Expansion with Funding

With the latest funding infusion, BigID aims to expedite organic and inorganic expansion in AI data security and compliance. The company’s commitment to innovation and customer-centric solutions has garnered recognition from various industry accolades.

BigID’s extensible platform has driven customer ROI as enterprises continue to develop their modern data infrastructure. By offering comprehensive solutions for data discovery, classification, loss prevention, and access management, BigID empowers organizations to mitigate risks associated with data breaches and regulatory non-compliance while unlocking the value of their data assets.

As the demand for robust AI data security solutions continues to rise, BigID’s latest funding round positions it as a market leader.

“The exponential growth of generative AI is driving new cybersecurity needs, and the BigID team has built a leading data-centric security platform that sits at the core of enterprises to help protect their most critical data,” said Shawn O’Neill, Managing Director and Group Head of Silver Lake Waterman.

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