BigID — Reimagining data management
April 22, 2021
The promise of big data is becoming a reality. The world is becoming more digital, and advancements in tech infrastructure are enabling companies to capture, store and process data faster and cheaper than ever before.
Over the past few years, we have invested in many software and information services companies that, at their core, are built on collecting, organizing and ultimately harnessing the power of data. Many of these companies are using data together with AI/ML to become systems of intelligence and deliver powerful, automated solutions to their customers. At the same time, data privacy and security risks are growing across the globe in lockstep with increased digitization and data explosion.
These may sound like exciting and new trends, but the reality is that large scale data collection started a long time ago and continues to outpace the world’s ability to properly and ethically manage data. The typical enterprise today is collecting and exchanging massive amounts of data across internal operations, partners, and customers. Data sprawl across systems and environments is an incredibly difficult challenge that we have seen first-hand. It heightens the risk and impact of breaches, makes it hard to identify and safeguard sensitive information, and creates data quality issues that limit the ability to derive actionable intelligence. Simply put, you need to know what data you have in order to protect it, organize it, and ultimately use it most productively.
In our work on the broader market, it became clear to us that there is a pressing need for next generation data management solutions up and down the data lifecycle. The promise of big data must address the challenge of data sprawl.
Enter BigID. Our diligence on the “data problem” led us to BigID, and after meeting the team we immediately knew we had found a company that was helping to tackle the problem. Dimitri, Nimrod, and the BigID team have built an exciting platform centered around world class data discovery technology, along with numerous apps to help companies address privacy, security, and data quality use cases.
Managing data is a multi-step problem that begins with discovery:
- Discover all of your data, whether it is in the cloud or on-premise, structured or unstructured etc.
- Classify, catalog, and master your data to organize it and understand quality.
- Manage access to the data to ensure to ensure proper governance.
- Create workflow tools to operationalize your data, whether they be defensive (privacy, security) or offensive use cases (insights, BI) .
- Rinse and repeat as new data is added
The first step in the data lifecycle – discovery — is one of the toughest challenges. The typical enterprise has massive amounts of data spread out across environments, apps, and in structured and unstructured formats.
BigID utilizes machine learning-based discovery coupled with a large and growing list of integrations to help companies understand exactly what they have, and begin the journey of protecting their crown jewels and unleashing the power of their data.
Discovery is the core, but it’s just the beginning. BigID is rapidly adding apps and workflow tools to the platform to help its customers throughout the data lifecycle.
It’s clear to us that how a company manages it data is becoming increasingly important with every passing day. It matters to customers, partners, regulators, and ultimately will be a key part of whether a company can develop and sustain a competitive advantage. In B2C, it’s quickly becoming a defining part of your brand and your promise to the market.
When we met the BigID team, they were not looking for funding. We ultimately invested because we were 100% aligned with their vision for the company, and believe Advent can help them accelerate their plans.
It’s an exciting time for BigID, and we are delighted to support the team on the journey ahead.