Big Idy has raised about $ 170 million in just over a year, and has not stopped growing. The CEO admits: “Most of the money raised is not yet used”
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Israeli startups do not stop: in January it surprised us with a $ 50 million fundraiser, just 4 months after a separate $ 50 million round of funding. Now, the Israeli BigID closes the year 2020 with the raising of D, the largest in its history, of $ 70 million. The fundraising was led by Salesforce Venture Partners, Bessemer Venture Partners and Boldstart Ventures. As expected, the deal includes initial shares and a second component. The value of the company crossed the $ 1 billion mark for the first time.
Lower the risk of gathering information
BigID has developed a platform for managing and enforcing online information privacy policies in accordance with regulatory requirements and new stringent regulations such as European law and California laws that have recently come into force. The technology it has developed combines Machine Learning and Identity Intelligence capabilities to find, track and reduce risk around the vast amounts of information companies keep for their customers. The BigID platform enables the automatic mapping and cataloging of all information collected about each and every customer and provides essential tools for those responsible for the security of information in the organization, including rapid identification and control of information and privacy.
“BigID does not need the cash and most of the money raised is not yet used”
Source: BigID
In conversation with Giktiim Nimrod Wax, VP of Product and co-founder of BigID, explains that since the previous recruitment, the company has experienced impressive growth with doubling the number of customers and the number of employees in the company. “We have launched the Big ID application platform and above it a number of key privacy management and information protection management applications, including a new cloud product and a new AWS information discovery and cataloging product that we are now launching at re: invent,” he added.
Why did you actually go out to recruit again?
Wax: “All fundraisers began at the initiative of investors and reflect their belief in the information management market and in leading Big Idy in the market vis-à-vis established competitors and new competitors. Big Idy does not need the cash and most of the money raised is not yet used, but the offers we were given were very attractive and allow us to grow quickly and establish our lead both in terms of product and marketing and sales. “
Where do we go from here? issue? Purchases? Exit?
Wax: “We are focused on continuing to grow customers and the ability to develop and market. In the coming year, we will focus on expanding the range of services we will offer and the range of customers. Solutions for smaller customers, developers, and other business units in organizations. ”
And
Unlike competitors, Wax explains that Big Idy is able to connect to all types of existing information, and is able to catalog, categorize and link the information to extract as much insight as possible. This is in addition to the ability to build applications that use insights to perform actions and solve privacy problems, protect and manage information. “The platform is also open to customers and partners to build their own applications on our platform for the benefit of integrations or applications designed for them. We have an online user community that shares examples, and tools for developing applications and integrations, ”adds Wax.
BigID was founded in 2016 by Nimrod Wax and Dimitri Sirota, who serves as the company’s CEO. The company currently employs about 250 people in its branches in New York, Israel, London, the United States, Brazil, France, Switzerland, India, Singapore, Australia and more. The company’s research and development center is the company’s largest office, where most of the development work is carried out. The company plans to use the funds raised to develop new applications and expand its marketing and sales activities.
A good old age
Born with a joystick in hand. He has far too many gadgets and far too little free time to play with them all. An unexplained hammer holder for calibrating device batteries. When he’s not busy writing about technology, he likes to talk about it, and a lot
