BigID Raises $100M Series D 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.