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BigID announced a $60 million growth round on March 18, 2024, led by Riverwood Capital, with Silver Lake Waterman and Advent participating. The company said the financing put its valuation at over $1 billion—not exactly $1 billion—and brought its reported total capital raised to $320 million.
What BigID said the funding will support
BigID described itself as an AI-augmented data security, compliance and privacy company serving cloud-first enterprises. The company said it would use the new capital to accelerate AI data security innovation and acquisitions, connecting that strategy to enterprise generative-AI initiatives and the handling of structured and unstructured data. BigID’s March 18, 2024 announcement is the source for the financing details and stated purpose.
In the announcement, CEO and co-founder Dimitri Sirota said BigID had grown from its first customer to “almost $100M in recurring revenue” in five years. That is a company statement, not an independently verified revenue figure. Contemporary CTech coverage also described the company as closing in on $100 million in annual recurring revenue.
How the 2024 round compares with BigID’s earlier funding
The March 2024 growth round was distinct from BigID’s Series D financing and its later extension. The amounts, round descriptions and valuation wording reported for each announcement were:
#1 Best Overall
| Announcement | Amount | Reported valuation | Investors named |
|---|---|---|---|
| December 2020 Series D | $70 million | $1 billion | Salesforce Ventures and Tiger Global co-led; Glynn Capital, Bessemer Venture Partners, Scale Venture Partners and Boldstart Ventures also participated, according to TechCrunch’s report. |
| April 2021 Series D extension | $30 million | $1.25 billion | Advent International, according to BigID’s announcement. |
| March 2024 growth round | $60 million | Over $1 billion | Riverwood Capital led; Silver Lake Waterman and Advent participated, according to BigID’s announcement. |
The valuations are the wording reported at the time, not figures shown by these sources to use a common, independently audited methodology. The 2024 announcement does not give an exact valuation.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the announcement does not disclose
The cited 2024 announcement does not specify share classes, investor ownership stakes, detailed transaction terms or how the valuation was calculated. BigID’s reported $320 million in total capital raised is also a company-reported figure; the announcement does not describe it as an audited total.
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