Salesforce Backs BigID At $1B+ Valuation
Salesforce Ventures, the corporate venture arm of the software giant Salesforce, has co-led a $70 million Series D round for BigID, a New York-based data security startup. The round, co-led with the investment firm Tiger Global, valued BigID at over $1 billion.
Other participants in the round along with Salesforce and Tiger Global included Glynn Capital, Bessemer Venture Partners, Scale Venture Partners, and Boldstart Ventures.
With the new round, BigID has raised a total of $216 million in funding since its start. It marked a double-down for both Salesforce and Tiger Global which were previous investors in the BigID, with Tiger Global having invested a lump sum of $50 million in the company in January this year.
Salesforce Ventures, the corporate venture arm of Salesforce, is a prolific investor in technology companies, particularly software companies, and has just continued its streak by co-leading a $70 million round for BigID.
Established in 2009, the venture arm has invested in dozens of companies globally and clinched lucrative exits with a handful of its investments such as Apptus (sold to Thoma Bravo), ServiceMax (sold for $915M to GE), Adaptive Insights (sold for $1.55B to Workday), and Anaplan (IPO).
BigID in this case is a data intelligence platform for enterprises to analyze and manage data for privacy and security purposes. The company was founded just five years ago and has scaled from scratch now to a $1 billion+ valuation.
BigID’s $70 million Series D round consisted of both the sale of primary and secondary shares, secondary referring to existing shareholders cashing out part of their stakes in the company while primary refers to equity purchased directly from the company and used to fund its operations.
With over $200 million now raised, BigID cements its position as one of the highest-funded software startups based in New York.