Arlington, Va.-based data privacy management company WireWheel on Wednesday announced that it raised $20 million in a Series B funding round.
The latest round, which brings the total raised by WireWheel to $45 million, was led by ForgePoint Capital, with participation from existing investors New Enterprise Associates, Revolution's Rise of the Rest Fund, PSP Growth, Grotech and Sands Capital Ventures.
The company said it will use the money to accelerate go-to-market initiatives and improve its platform.
WireWheel has developed a SaaS privacy platform that can be used by organizations of all sizes. The company’s Privacy Operations Manager product is designed to automate tasks such as data discovery, inventories, incident management, privacy assessment, and compliance.
WireWheel’s Trust Access and Consent product enables organizations to put their customers in control of their data.
The company claims its solutions can help enterprises better manage personal data and comply with international privacy regulations, such as the EU’s GDPR and California’s CCPA.
“WireWheel's best-in-class software orchestrates trust for privacy teams who don't just want to check a box,” said Andrew McClure, principal at ForgePoint Capital. “That's why some of the most privacy-mature organizations look to the team at WireWheel not only for domain expertise, but also for unmatched product sophistication. Customers leverage WireWheel's core privacy platform to get in compliance fast, and build privacy protection directly into their DevOps pipelines, their products, and their data use and governance programs.”
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