WireWheel Raises $20 Million in Series B Funding
Arlington: WireWheel, a leader in data privacy technology, today announced $20 million in Series B financing led by ForgePoint Capital. Existing investors New Enterprise Associates, Revolution’s Rise of the Rest Fund, PSP Growth, Grotech, and Sands Capital Ventures also participated in the round, bringing total capital raised by the company to $45 million. The funding will enable WireWheel to speed its go-to-market plans and extend its Software-as-a-Service (SaaS) platform’s leadership as the only solution built specifically for ease of use by privacy professionals and tailored to the needs of engineering and data governance teams. Andrew McClure of ForgePoint Capital will join WireWheel’s board of directors.
“We are proudly delivering a cloud-based, technology-first privacy platform to some of the biggest brands in the world,” said Justin Antonipillai, Founder and CEO of WireWheel. “Our mission is to make this enterprise-grade privacy infrastructure available to every company so that everyone can responsibly protect personal data and ethically use it to solve their business problems. ForgePoint is the perfect partner for the next stage of our growth, and we are proud to partner with this team on our journey.”
WireWheel’s SaaS Platform supports full-cycle global privacy management for organizations large and small. The Company’s Privacy Operations Manager automates data discovery, inventories, privacy assessments, incident management, and privacy compliance throughout a company and its partner and vendor ecosystem. The Trust Access and Consent product enable consumer controls and access to their data. Through these offerings, companies not only comply more quickly with global privacy laws, like the European GDPR and California CCPA but can enable greater, more responsible use of personal data by bridging between compliance and governance systems.
In the last year, WireWheel released the WireWheel Developer Portal to enable technology-driven companies to build privacy and data protection directly into their products; launched the WireWheel’s Spokes Privacy Technology Conference, now one of the largest privacy conferences in the world, to offer free access to the best privacy knowledge and training; and made its enterprise-grade privacy and data protection infrastructure available for every startup and SMB through its “Essentials” offering.
“From the beginning, we recognized WireWheel as a company that will act as a catalyst for privacy protection and innovation,” said Penny Pritzker, Chairman, and Founder of PSP Partners. “The key has been that WireWheel is focused both on helping companies comply with privacy laws around the world, and on helping them ethically use data to solve customer problems. Just think of how much can be accomplished with greater trust and transparency regarding data between companies and their valued customers … WireWheel can help drive that change.”
