with $30m extension, bigid boosts series d to $100m at $1.25b valuation
BigID Secures $30 Million Extension, Valuation Climbs to $1.25 Billion
Following a $70 million Series D round in late 2020, BigID has announced a $30 million extension. This new investment values the company at $1.25 billion, a significant increase achieved within just four months.
Funding Details and Investors
The extension was led by private equity firm Advent International. This brings the total funding raised by BigID to over $200 million across four investment rounds.
The company is gaining substantial investment due to its development of a comprehensive security and privacy platform.
CEO's Perspective on Growth
In a September 2019 interview, CEO Dimitri Sirota outlined the company’s strategic direction. He indicated a focus on building a robust platform for data management.
Sirota reports that the capital has been strategically deployed, and increased economic activity is driving greater product adoption. “We’ve expanded our team since December, coinciding with economic recovery and heightened demand,” he stated.
Furthermore, BigID is preparing to unveil a series of new products and features in the coming weeks, which are expected to be transformative for the company.
Strategic Funding Decision
Sirota emphasized that the additional funding wasn't actively sought, but was accepted due to favorable terms and the potential value added by Advent International.
The new funds will facilitate expansion initiatives that might have been postponed otherwise. The company aimed to avoid over-capitalization, a growing concern in the current market.
“We sought funding that would accelerate product development and enable us to build a sales team focused on serving smaller commercial clients,” Sirota explained.
Advent International's Rationale
Ashwin Krishnan, a principal at Advent International, highlighted the alignment between BigID and two key trends the firm is tracking.
- The exponential growth in data collection.
- The increasing importance of data management and security for informed decision-making.
“Our meeting with Dimitri and the BigID team confirmed our belief in their powerful platform’s ability to address the core challenges surrounding data,” Krishnan commented.
Existing Investors
BigID’s existing investor base includes prominent firms such as:
- Boldstart Ventures
- Bessemer Venture Partners
- Tiger Global
Strategic investments have also come from Comcast Ventures, Salesforce Ventures, and SAP.io.
Ron Miller
Ron Miller's Background in Technology Journalism
Ron Miller has a distinguished career as a journalist specializing in the technology sector. He most recently served as an enterprise reporter for TechCrunch, covering significant developments within the industry.
Early Career and Editorial Roles
Prior to his role at TechCrunch, Miller dedicated a substantial period as a Contributing Editor for EContent Magazine. His expertise was regularly featured in this publication.
Throughout his career, he has also contributed consistently to several other prominent technology publications.
- CITEworld was among the platforms where his insights were regularly published.
- He was a frequent contributor to DaniWeb, offering valuable perspectives on web development and technology.
- TechTarget also benefited from his reporting and analysis.
- Miller’s work appeared in Internet Evolution, focusing on the changing landscape of internet technologies.
- Furthermore, he contributed to FierceContentManagement, a resource for content management professionals.
Professional Disclosures
It is important to note Miller’s previous corporate blogging role at Intronis. During this time, he authored weekly posts addressing relevant IT concerns.
He has also provided content for various corporate blogs throughout his career, including:
- Ness
- Novell
- The IBM Mid-market Blogger Program
These engagements demonstrate his ability to communicate complex technical information to a broad audience, while maintaining objectivity and journalistic integrity.