• Berlin-based collaboration platform Wire has raised EUR 24 million (~USD 24.6 million) in a Series C funding round led by Cipio Partners and Iconical with participation from existing investors including UVC Partners. 

• The proceeds are to be used to scale in sectors such as government and military while also focusing on regulated markets such as financial services. 

• The company claims its revenue has doubled since last year and is aiming to grow revenue by 2x over the next year as well. However, the number of customers (over 1,800) has remained largely unchanged since Wire’s last raise in April 2021 due to its focus on acquiring very large customers.

<ul><li> Analyst QuickTake: This year Microsoft and Google have also focused on enhancing the security of their collaboration and communication tools to fit the security requirements of government agencies. For instance, in March 2022 Microsoft announced a special Office 365 package for government and intelligence agencies and Google announced plans to introduce end-to-end encryption for all Google Meet meetings in May 2022 . However, Wire has the capability to run on on-premises private networks giving an additional layer of protection compared to Microsoft and Google whose offerings are fully cloud-based.</ul>