As information solitude becomes an increasingly important notion, especially with the EU’s GDPR privacy laws coming on line in May, employers need to find ways to understand their client’s private information. BigID thinks it’s a solution and it landed a $14 million Series A investment now to help increase the thought.
Comcast Ventures, SAP (through SAP.io), ClearSky Security Fund and among the Business’s seed round shareholders, BOLDstart Ventures, all participated in the investment. Last week, the deal closed. Today’s investment on top of the $2.1 million seed round in 2016 brings the total increased to $16.1 million.
CEO and co-founder Dimitri Sirota says before firms can do anything with their information, they must understand what they have. The starting point therefore is creating a catalog of private data types you want to safeguard without actually moving the information.
“Think of us as Google for information. We index the data, figure out what data belongs to what thing, the information subject [and so on], but it’s virtual. We don’t replicate it. It stays where it was,” Sirota explained.
The business may search across multiple large data stores, locate private advice for people across different sources, map the relationships across sources, see how information flows across different geographies and help clients comply with local data privacy regulations.
And he says the solution supports a variety of information formats out of the box whether that’s MongoDB, Cassandra, a cloud support like AWS or Azure or an enterprise software package like SAP. Additionally, it provides a generic connector that clients may customize to connect to unsupported information stores. It typically requires a few weeks to put in a new one. BigID is also always working on expanding supported data forms and upgrades the product on a regular basis, according to Sirota.
The solution is offered in a subscription version delivered as a Docker picture. Most clients so far have opted to install it behind their firewall.
While the organization’s info identification and compliance solution maps well to GDPR compliance rules, Sirota said they didn’t put to out solve one compliance issue. They wanted to build a product that will help companies be “better stewards of private customer information. ”
The business hired its first engineer in March, 2016 and GDPR regulations handed in April 2016. That piece of serendipity helped the company build something which has been GDPR compliant. “While we don’t call explicitly a GDPR solution, we do pay a great deal of the requirements,” he also told TechCrunch.
The business is still young with 16 workers spread across two offices in both NYC and Tel Aviv, which houses the business engineering division. It intends to expand the number of workers in the upcoming year with now’s investment.
It has around two dozen initial clients. While Sirota wouldn’t title specific ones just yet, he’d state the list comprises Dow 30 companies, big web scale companies and large systems integrators.