BigID co-founders Dimitri Sirota and Nimrod Vax (company pic)
BigID is moving Israel Startup Nation forward as the war in Gaza continues. The Israeli unicorn, which offers data security solutions for the cloud, held a $60 million raise led by Riverwood Capital with participation by Silver Lake Waterman and Advent. BigID has now raised a total of $320 million in funding to date.
Cloud data security refers to the practices and technologies used to protect information stored in the cloud. It encompasses safeguarding data at rest (stored in the cloud), in transit (moving between the cloud and your devices), and in use (being accessed or processed). As enterprises increase their adoption of cloud services, they must ensure that data is democratized to deliver insights and secured against new and rising threats.
And BigID is not the only Israeli unicorn in this field. Cyera, an Israeli startup offering cloud data security, is set to become a unicorn, tripling its valuation to $1.5 billion.
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Founded in 2016 by Dimitri Sirota and Nimrod Vax, BigID is offers data security, privacy, compliance, and governance: enabling organizations to “proactively discover, manage, protect, and get more value from their data in a single platform for data visibility and control.” Customers use BigID to reduce their data risk, automate security and privacy controls, achieve compliance, and understand their data across their entire data landscape: including multicloud, hybrid cloud, IaaS, PaaS, SaaS, and on-prem data sources.
BigID has been recognized by CNBC as one of the top 25 startups for the enterprise, has been named to the Inc 5000 and Deloitte 500 for two years in a row, and is the leading modern data security vendor in the market today.
Before BigID was launched into the market in 2018, data security products were purpose-built for specific data types. The company has since pioneered the concept of universal data security, compliance and privacy across any data type – including structured, unstructured and semi-structured – across environments in the public cloud, SaaS, and on-premise data center. Given BigID’s extensible platform, it has helped drive customer ROI as enterprises build out their modern data infrastructure.
“In five years BigID has grown from 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 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.”
