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BigID Secures $60 Million in Funding to Accelerate Growth in AI Data Security and Compliance

BigID, a leader in AI-augmented data security, compliance, and privacy for modern cloud-first enterprises, announced the closing of a $60 million growth round. The funding round was led by Riverwood Capital, with significant contributions from Silver Lake Waterman and Advent. This financial infusion will fuel BigID's expansion in the rapidly evolving field of AI data security and compliance.

Since its market launch in 2018, BigID has been at the forefront of universal data security, offering comprehensive solutions that encompass structured, unstructured, and semi-structured data across various environments, including public cloud, SaaS, and on-premise data centers. The company's platform has driven customer ROI by supporting the development of modern data infrastructure.

BigID has recently introduced new data hygiene capabilities tailored for the generative AI data pipeline, covering stages from discovery to staging and enrichment, as well as new controls for detecting and tracking model access to sensitive data. With the latest funding, the company aims to accelerate its growth both organically and through strategic acquisitions.

Dimitri Sirota, CEO and Co-founder of BigID, shared his vision for the company's future: "In five years, BigID has grown from its 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. With corporate attention now turning to enabling responsible and trusted AI, BigID 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."

Francisco Alvarez-Demalde, Co-Founder and Managing Partner of Riverwood Capital, expressed his admiration for BigID's platform: "We have long admired the platform Dimitri and the BigID team have built, which unifies a fragmented and complex market with a single solution to help organizations action their enterprise data across security, privacy, compliance, and governance. We are excited to partner with what we consider to be a category leader with a software platform that 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, role of the cloud, and evolving regulatory pressures."

Shawn O'Neill, Managing Director and Group Head of Silver Lake Waterman, highlighted the growing importance of BigID's platform in the era of generative AI: "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. We have enjoyed building our relationship with Dimitri and the BigID leadership team over the past five years and look forward to partnering and helping drive further success."

With this new round of funding, BigID is poised to continue its rapid growth and innovation in the fields of AI data security and compliance, addressing the complex challenges faced by enterprises in the digital age.

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