Venture Capital News: Wiretap Secures $3M
COLUMBUS, OH, Wiretap, a security intelligence platform known for helping enterprises safely accelerate the adoption of collaboration services, today announced the close of a $3 million Series A funding.
The investment, led by Pittsburgh-based Draper Triangle Ventures along with Columbus-based Ohio Innovation Fund, will be used to fuel product development as well as organizational growth. Both firms will join Wiretap's Board.
Wiretap was founded in Columbus, Ohio in late 2014 - a city ranked #1 for scaling startups1 and #8 for U.S. cities for tech job growth2. With this investment, Wiretap will have the opportunity to further develop its enterprise social collaboration security platform and to recruit additional highly skilled teammates with a passion for security and technology.
'We are incredibly excited to partner with Draper Triangle and the Ohio Innovation Fund, two leading investors that share our vision,' said Jeff Schumann, CEO of Wiretap. 'Together we believe deeply in the power of collaboration as an engine for innovation and to provide a competitive advantage among global enterprises. Wiretap not only enables safe collaboration, but aims to use cognitive computing to develop insights along a myriad of dimensions that can only be understood by moving beyond data and tapping into the human element of large enterprises.'
Managing Director of Draper Triangle Ventures, Will Indest said, 'We're excited to be working with the terrific team at Wiretap. With this investment, Wiretap will be able to expand upon its success in securing the exploding social enterprise space and begin delivering never-before-seen social intelligence insights.'
'Wiretap's progress in bringing its product to market and growing its customer base are indicative of how rapidly enterprises are adopting collaboration platforms like Office 365, and of the need for an innovative approach combining data science and elements of cognitive-computing in securing the newly established social graph. We are thrilled to work with this world-class team and help support the next chapter of Wiretap's success,' said Bill Baumel, Managing Director at Ohio Innovation Fund.
Wiretap interfaces with social networks to allow companies to safely grow, learn from and appropriately manage the social interactions occurring on their network. Wiretap aims to combine the latest advancements in cognitive computing with behavioral analytics to amplify enterprise value by safely securing and learning from the social graph. For more information or to request a demo, please visit www.wiretap.com.
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