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BigID nets $50 million, plus more top funding news for New York-based companies

Photo: Vic.ai, Inc/Facebook
By Hoodline - Published on September 12, 2019.

New York-based privacy company BigID has secured $50 million in Series C funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced Sept. 5 and led by Bessemer Venture Partners.

According to its Crunchbase profile, "BigID develops a software that helps companies have a secure customer data and satisfy privacy regulations. Organizations are facing record breaches of personal information and proliferating global privacy regulations with fines reaching 4% of annual revenue. Today enterprises lack dedicated purpose built technology to help them track and govern their customer data."

The four-year-old startup has raised four previous funding rounds, including a $30 million Series B round in 2018.

The round brings total funding raised by New York companies in information technology over the past month to $149 million, an increase of $11 million from the month before. The local information technology industry has produced 247 funding rounds over the past year, raking in a total of $4.5 billion in venture funding.

In other local funding news, accounting company Vic.ai announced an $11 million Series A funding round on Sept. 8, led by GGV Capital.

According to Crunchbase, "Vic.ai is a service that automates accounting and provides financial advice and support through the use of Artificial Intelligence. Through more than 15 years experience in the Cloud Accounting space, and with access to more than 100+ million accounting documents and transactions, we've created the world's first AI Accountant."

Founded in 2016, the company has raised two previous rounds, including a $1.5 million seed round in 2017.

Meanwhile, employment and delivery company RippleMatch raised $6 million in Series A funding, announced on Sept. 5. The round's investors were led by G20 Ventures.

From the company's Crunchbase profile, "At RippleMatch, we help entry-level candidates find their dream jobs. Figuring out where to begin a career is a huge decision, but students are often forced to rely on overstretched career services centers and small personal networks when they begin their job search. We have built the first product ever to automate early career recruiting and career coaching."

RippleMatch last raised $3 million in seed funding in 2018.

Also of note, legal and business development company Axiom raised corporate round funding, announced on Sept. 6 and financed by Permira.

From Crunchbase, "Axiom provides tech-enabled legal, contracts and compliance solutions for large enterprises. Its solutions combine legal experience, technology and data analytics to deliver work in a way that dramatically reduces risk, cost and cycle-time."

The company previously raised $28 million in funding in 2013.


This story was created automatically using local investment data, then reviewed by an editor. Click here for more about what we're doing. Got thoughts? Go here to share your feedback.

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