Data protection and privacy startup BigID Inc. announced today that it has raised $70 million in new funding to deliver new applications for using data for data privacy, security and governance.
The Series D round was led by Salesforce Ventures and Tiger Global and included Glynn Capital, Bessemer Venture Partners, Scale Venture Partners and Boldstart Ventures. The round was raised on a valuation of more than $1 billion, giving BigID unicorn status for the first time. Including the new funding, BigID has raised $216 million to date.
Founded in 2016, BigID develops and offers software that assists companies to secure customer data and to satisfy privacy regulations. The company’s platform uses advanced machine learning and what it calls “identity intelligence” that allows users to find, track and “de-risk” identity data stored on servers. It does so by automatically cataloging and mapping sensitive and personal data across an entire data environment, incorporating active metadata and classification.