Berlin-based collaboration platform Wire has closed a $21 million Series B round led by UVC Partners, with participation from existing investors Iconical, Morpheus Ventures, Elysium Venture Capital and One Way Ventures.
Wire reports that they’ll be using the funding to continue expansion plans, further develop their technology and platform offerings, and expand the headcount. “Our investment in Wire shows our strong belief in their leadership team, as well as their product and trajectory to date, particularly given their phenomenal revenue growth, has well outpaced the market. Corporate awareness of the growing issue of cybercrime has increased rapidly in recent months and has accentuated the need to find new ways to communicate and collaborate securely,” comments Dr. Ingo Potthof, Managing Partner at UVC Partners.
This raise comes fresh off a 3x annual revenue growth in 2020, a 50% customer base increase year-over-year, and a number of significant wins in the energy, financial services, and government sectors, with five of the G7 governments choosing Wire.
Built upon end-to-end encryption, the company offers customers messenger, voice, video, conference calls, file sharing, and external collaboration functionality. The company points to its unique security capabilities as a reason behind the continued success.
“Wire’s mission has always been to create the most secure platform, suitable for mission-critical communications and for organizations that truly value privacy, says Wire CEO Morten Brøgger. “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.”