Berlin-based Wire, a secure collaboration platform, has raised $21M (approx €17.55M) in its Series B round of funding led by VC firm UVC Partners. The company makes enterprise collaboration secure and helps address the world’s $6T (approx €5.01T) cybersecurity problem.
According to the company, the current funding round follows Wire’s 3-year period of consistent quarter-on-quarter growth and an almost 50 per cent increase in customer base. Currently, the company has 1,800 government and enterprise customers worldwide, from where it stood just under a year ago.
Most secure collaboration platform?
With the recent pandemic, remote and hybrid working models have become the new normal. And with issues such as growing cyber threats, continued geopolitical tensions, and increasing complexities around privacy regulation, it is very critical for governments and enterprises to have the right infrastructure to maintain both productivity and security. This is where Wire steps in.
The company claims that its platform is developed with the highest levels of security from the outset, and it offers services such as messenger, voice, video, conference calls, file-sharing, and external collaboration. For facilitating such services, the company has built an infrastructure of end-to-end encryption to ensure all data that passes through it remains secure and private.
Wire’s security capabilities and custom deployment options cater to enterprises and governments looking to protect their documents, and secure communications across teams, clients, and partners.
Morten Brøgger, CEO of Wire says, “Wire’s mission has always been to create the most secure platform, suitable for mission-critical communications and for organisations that truly value privacy. Our enterprise and government customers constantly grapple with monumental productivity, security, and privacy issues all at once, and Wire is best positioned to address these challenges.”
The company was founded in 2012 by Jonathan Christensen, Priidu Zilmer, and Alan Duric.
Headquartered in Berlin with offices in Switzerland and San Francisco, Wire’s collaboration and communications platform count over 1,800 government and enterprise customers globally, including EY, Fortum, the German government, and four other G7 governments.
Use of the funds
Wire has seen a surge in demand for its services in 2020 wherein it claims that its annual revenue saw 3 times the growth. And this round’s funding will help support this growth across its organisation.
Wire plans to continue investing in its technology and platform, with further product announcements expected later in the year. It is also actively hiring, looking to grow its team of currently just over 90 staff members.
About UVC Partners
Unternehmertum Venture Capital Partners (UVC Partners) is a Munich- and Berlin-based early-stage venture capital firm that invests in European B2B startups. Its invests in areas of enterprise software, industrial technologies, and mobility. The fund typically invests between €0.5 – €5M initially and up to €20M in total per company. With over 240 employees and more than 100 industry partners, UnternehmerTUM can draw from many years of experience in establishing young companies.