Almost exactly 4 months after BigID announced a $ 50 million Series C, the company was back today with another $ 50 million round. The Series C expansion comes entirely from Tiger Global Management. The company raised a total of $ 144 million.
BigID's goal to understand and manage the data a company has is that investors are interested in $ 100 million in just four months.
BigID CEO and co-founder, Dimitri Sirota, admits that his company was founded at the right time when it was founded in 2016. However, he and his co-founders sensed that governments' perceptions of data protection would change.
“Fortunately, some of the requirements we mentioned were crucial, such as: For example, to understand what data you collect for each individual in your entire data landscape [pass]"Sirota said to TechCrunch. While understanding that there are many competing companies looking to enter this market, he believes that it helped his start-up establish a brand identity earlier than most.
Sirota says that he hasn't really tried to raise either the C or the D, and in fact still has B money in the bank, but if big investors want to give you money on reasonable terms, take it while the money there is . These investors clearly see that the data protection landscape is expanding and want to participate. He is aware that economic conditions can change quickly and that it does no harm to have money in the bank in this case.
That said, Sirota says you don't collect money to keep it in the bank. At some point you put it to work. The company has big plans to expand beyond its privacy roots to other security areas in the coming year. Although he would not go into too much detail, he said that he would expect some announcements soon.
For a company just four years old, it was amazingly skillful to raise $ 14 million and $ 30 million in 2018 with Series A and B, followed by Series C with $ 50 million last year and today's round with $ 50 million. And Sirota said he didn't even have to look for the latest funding. Investors came to him – no trips to Sand Hill Road, no pitch decks. Sirota was unwilling to discuss the company's valuation, just saying that the investment was minimally watered down.
The New York City-based company already has a number of employees in Europe and Asia. However, he expects further international expansion in 2020. The company currently has a total of around 165 employees and is expecting an increase to 200 by the middle of the year as they push a few new neighborhoods.