Data protection start BigID is raising $ 70M on a $ 1B one-horn valuation

Getting started Data protection and privacy BigID Inc. announced. today that they have raised $ 70 million in new funding to deliver new applications for the use of data for data privacy, security and management.

The Series D tour was led by Salesforce Ventures and Tiger Global and included Glynn Capital, Bessemer Venture Partners, Scale Venture Partners and Boldstart Ventures. The tour was built on a valuation of more than $ 1 billion, giving BigID unicorn status for the first time. Introducing the new funding, BigID has raised $ 216 million to date.

Founded in 2016, BigID develops and offers software that helps companies access messenger data and satisfy privacy rules. The company’s platform uses advanced machine learning and what it calls “identity information” that allows users to find, retrieve and decrypt identity data stored on servers . It does this by automatically cataloging and mapping sensitive and personal data across a complete data environment, including functional metadata and classification.

The company’s service supports cloud, hybrid and on-premises data storage and can be installed in the building or in the cloud. Amazon Web Services Inc. has a long list of supported platforms and services, including S3, MongoDB and SAP.

BigID sets its services specifically for companies that must comply with the European Union’s General Data Protection Regulation and the California Consumer Privacy Act. The two have come to take control of most companies operating in the US or Europe, giving BigID a huge market when it comes to companies looking for compliance solutions.

Nimrod Vax, co-founder and head of production at BigID, spoke to theCUBE, SiliconANGLE Media’s live streaming studio, during AWS regarding: Invent Dec. 3, discussing a new approach to automated data discovery that allows compliance easier data data legislation.

Vax noted, for example, that both the GDPR and CCPA grant covered the right of citizens to forget, meaning that they can choose to permanently delete all of their data from a company database. “Organizations had no way of doing that because the available tools could not tell them what data they found,” Vax said.

Vax went on to explain that BigID has implemented a unique solution. “Instead of looking at the data, we started by looking at the identity, the people and finally looking at their data, learning what their data looks like and the then looking for that information, ”Vax explained.

Image: TheDigitalArtist / Pixabay

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