BigID's Strategy for Profitability, M&A and AI Integration
CEO Dimitri Sirota Discusses $60M Series D, BigID's Growth Plans in Data Security
BigID expects to achieve profitability by early 2025 and will pursue acquisitions that bring more artificial intelligence capabilities to the company's data security stack.
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The New York-based company plans to use its $60 million Series D funding round to enhance its app store for data security tools, allowing for easier integration of modules for data discovery, classification and remediation, according to co-founder and CEO Dimitri Sirota. He said the company will pursue both organic and inorganic opportunities to stay ahead in the data security, AI and compliance markets (see: BigID Raises $60M, Eyes M&A Around Data Security, Compliance).
"This gives us a little bit of cushion and enough extra capital to also look at some possible tuck-ins in the areas of AI and so forth," Sirota said. "It's likely our last fundraise. We just wanted to make sure we had some buffer, and also some additional dry powder should we come across companies that maybe are worthwhile tuck-ins."
In this video interview with Information Security Media Group, Sirota also discusses:
- Introduction and benefits of BigID's app store for data security solutions;
- BigID's competitive edge in the data security posture management market;
- Plans for exploring acquisitions, particularly in AI and data security.
Sirota, a privacy expert and identity veteran, co-founded and has led BigID since its inception in early 2016. He is a serial entrepreneur, investor, mentor and strategist. Sirota previously founded two enterprise software companies - eTunnels, which focused on security, and Layer 7 Technologies, which focused on API management and was sold to CA Technologies in 2013.
