Wire Grabs Fresh Funding For Secure Messaging Tech That’s Big With G7 Governments
08/12/22, 4:29 PM
Location
united states
Industry
messaging
More funding for European end-to-end encrypted messaging app, Wire: The enterprise-focused messaging platform told TechCrunch it’s closed a €24 million Series C round of funding led by growth equity firm Cipio Partners and Iconical, the investment vehicle of Skype co-founder Janus Friis. Existing investor UVC Partners also participating, among other returning backers.
Company Info
Location
untermüli
united states
Additional Info
The enterprise-focused messaging platform told TechCrunch it’s closed a €24 million Series C round of funding led by growth equity firm Cipio Partners and Iconical, the investment vehicle of Skype co-founder Janus Friis. In all, wire says it has more than 1,800 customers at this stage — a top-line figure that hasn’t changed since it last raised, a $21M Series B round in April 2021 — but that’s down to the heft of some of the customers, per Duric, with a lot of focus going on chasing down “very large” customers, such as governments. (The short version of how Wire does this is by enabling customers to provision a regulated employee’s account to include a virtual device, running on the server-side, which operates with their same user credentials and copies all their content to auditable storage — but with the individual user being responsible for authorizing the provision, so, basically, there is no silent copying going on; the user has to be aware their data is being cloned for potential audit.) “The other thing is Wire is visibly stronger when it comes to real-time communications: Group video calls, group audio calls, screensharing, all of this real-time comms aspects because there they’ve been relying for quite a bit on Jitsi… After [that] now the vehicle in a first phase [is] Wire — I hope that it enables the DMA to start happening and some of these big monopolies get reshaped and we have communication solutions for the next ten years which are not going to be proprietary, which are not going to be closed and they are going to be very secure and respecting users privacy,” he adds.