BigID
Overview
BigID is a leading data security, privacy, compliance, and governance company based in New York City, founded in 2016 by Dimitri Sirota and Nimrod Vax. It employs advanced machine learning and identity intelligence to help enterprises discover, manage, and secure sensitive data at a petabyte scale. The company has raised significant capital, with its total funding amounting to $352.2 million as of the last reported round in early 2024. BigID has achieved a valuation exceeding $1 billion, earning its status as a unicorn in the tech industry.
Recent Developments
- August 2024: BigID was recognized on the 2024 Inc. 5000 list for the fourth consecutive year, highlighting its significant revenue growth and market leadership in data security and AI data management sectors. The recognition also underscores BigID’s innovative solutions in AI data security and compliance to enhance security, privacy, and governance capabilities.
- July 2024: BigID achieved a major industry milestone by receiving the CDMC Framework Certification from the EDM Council, becoming the first data security posture management solution to be certified in this framework aimed at enhancing cloud data management and security.
- March 2024: BigID closed a $60 million growth round led by Riverwood Capital and including previous investors like Silver Lake Waterman. This funding is set to accelerate BigID’s innovations in AI data security and compliance, supporting both organic growth and strategic acquisitions.
- July 2023: The company introduced advanced data hygiene capabilities for generative AI data pipelines, providing new controls for model access to sensitive data, further cementing its position in AI data governance.
- April 2023: BigID won the 'Market Leader Data Security Posture Management' award at the Global InfoSec Awards during the RSA Conference 2023, recognizing its leadership and innovative solutions in data security posture management.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2016 |
| Headquarters | New York City, New York, USA |
| Founders | Dimitri Sirota, Nimrod Vax |
| Revenue | $84 million (reported) |
| Employees | Approximately 650 |
| Industry | Data Security, Privacy Management |
Early History
BigID was founded with the vision to address the gap between data management and privacy protection. Initially launched to help companies comply with regulations such as GDPR, founders Dimitri Sirota and Nimrod Vax conceptualized BigID while recognizing the inadequacies in existing data security tools. In its formative years, the company quickly gained traction, raising capital to develop a scalable platform using machine learning to automatically identify and classify sensitive data. BigID rapidly evolved to pioneer strategies for safeguarding data across multi-cloud environments and was soon recognized for enabling organizations to understand and manage their data better.
Company Profile and Achievements
BigID’s business model revolves around its proprietary platform that integrates data discovery, machine learning, and identity intelligence to facilitate comprehensive data security and compliance. The company has several achievements, including being named a World Economic Forum Technology Pioneer and making it to the Deloitte Fast 500 for three consecutive years. Key milestones include:
- Launching its first GDPR & Privacy Compliance Product in 2017.
- Being recognized among Forbes Top 100 Cloud Companies in 2021.
- Achieving groundbreaking certifications for data management and security, setting new industry standards.
- Continually expanding its footprint across various global marketplaces, which has significantly boosted its revenue and alignment with cloud providers like AWS, Google, and Microsoft.
Current Operations and Market Position
BigID currently operates as a market leader in providing data intelligence for privacy, protection, compliance, and AI innovation across structured and unstructured data environments. The company’s solutions are designed to empower organizations to proactively discover, manage, protect, and derive value from their sensitive data. Its strong market position is further reinforced by its active engagement in setting data handling standards for the cloud era, as demonstrated by its leading role in the EDM Council Cloud Data Management Capability framework. BigID's current market position is characterized by a robust multi-cloud strategy, focusing particularly on the burgeoning needs for AI governance and data-driven security compliance.
Conclusion
BigID stands out in its industry as a frontrunner in providing transformative data security and privacy solutions. The company’s commitment to leveraging cutting-edge AI and machine learning technologies has not only set it apart from competitors but also positioned it as a crucial player in data governance and security frameworks. Looking ahead, BigID continues to push boundaries in AI data management and security, suggesting a trajectory of sustained growth and innovation, particularly in response to the escalating demand for rigorous data compliance and privacy solutions in the enterprise landscape.