Riverwood Capital took the lead in this round, with Silver Lake Waterman and Advent making significant contributions. The organization, which was established in 2018, has revolutionized the field of data security by launching a comprehensive security, compliance, and privacy solution that works with all kinds of data—structured, unstructured, and semi-structured—and in a variety of settings, including on-premise data centers, public clouds, and SaaS.

BigID's unique approach to universal data protection is the foundation of its product line; it differs significantly from the market's earlier segmented offerings, which catered to particular data kinds. BigID has greatly aided in increasing customer return on investment as businesses modernize and expand their data infrastructures by covering all types of data and providing broad coverage across various environments.

BigID plans to use the new funding to accelerate organic and inorganic growth opportunities in the AI data security and compliance domains. The company's deep domain knowledge in data classification, compliance, and unstructured data contextualization drives this goal. BigID recently unveiled cutting-edge data hygiene features designed for the generative AI data pipeline, improving the processes of discovery, staging, and enrichment and adding additional safeguards for monitoring sensitive data access.

BigID CEO and co-founder Dimitri Sirota stated, "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." In addition, he emphasized how businesses are beginning to prioritize supporting ethical and trustworthy AI, highlighting BigID as a crucial tool for resolving issues with unstructured training data, including quality, bias, privacy, access, sovereignty, and more.

Leaders in the business have praised the financing round. Co-founder and managing partner at Riverwood Capital Francisco Alvarez-Demalde praised BigID for uniting a fragmented market with a comprehensive solution that enables businesses to efficiently manage their company data across security, privacy, compliance, and governance aspects. Similarly, Silver Lake Waterman's Managing Director and Group Head, Shawn O'Neill, praised BigID's rapid expansion and critical position in the cybersecurity ecosystem, particularly in the age of generative AI.

BigID has achieved a major milestone with this fundraising round, setting it up for future success in an industry that is changing quickly.