WSJ: Enterprise-Tech Startups Focused on Risk, Security, Attract Venture Dollars

These New York startups, which include BigID Inc., Payfone Inc. and BlueVoyant, offer software for cybersecurity, data governance and other risk-management functions.

Business interest in such technologies has intensified in recent years as companies seek ways to better manage risk-and-compliance issues associated with an explosion of user data, said Ram Jambunathan, a managing director of SAP.iO, the early-stage venture-capital arm of business software maker SAP SE.

“With data being basically the lifeblood of business now, it becomes critical to be able to protect that,” Mr. Jambunathan said. “CIOs, CDOs, CISOs all need to understand and know and be able to track and govern the different types of data that reside within their enterprise boundaries.”

SAP.iO invested an undisclosed sum in BigID, which sells privacy-management software, in multiple rounds between 2017 and 2019. BigID raised $50 million in January, and $144 million to date.