On Wednesday, Arlington, Va.-based data protection management firm WireWheel reported that it raised $20 million in a fundraising round of Series B.
ForgePoint Finance, with participation from current investors New Enterprise Associates, Revolution’s Rise of the Rest Fund, PSP Development, Grotech and Sands Capital Ventures, led the latest round, which takes the total raised by WireWheel to $45 million.
It will use the money to boost go-to-market efforts and expand its platform, the firm said.
A SaaS privacy portal has been developed by WireWheel that can be used by organisations of all sizes. The Privacy Operations Manager product of the organization is designed to automate activities such as discovery of records, inventories, event management, measurement of privacy, and compliance.
The Confidence Access and Consent product of WireWheel helps organizations to position their consumers in charge of their information.
The company believes that its technologies can help companies handle sensitive data better and comply with international privacy laws, such as the GDPR of the EU and the CCPA of California.
“The best-in-class software from WireWheel orchestrates trust for privacy teams who do not just want to check a box,” said Andrew McClure, ForgePoint Capital’s principal. That’s why some of the most privacy-mature companies search not just for domain knowledge, but also for unprecedented product maturity at the WireWheel squad. Customers use the central privacy framework of WireWheel to easily achieve enforcement and create privacy security directly into their DevOps pipelines, their products, and their data use and governance schemes.