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Wire, the messaging app, raises $8.2M and addresses privacy concerns

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Wire messaging app

We have seen that there is no shortage of messaging apps in the world. Some of the most popular ones among these apps are WhatsApp, Messenger, Viber, WeChat and others across various different markets. However, we have some privacy-focused messaging apps too such as Telegram and others. Another messaging app that is on the rise is Wire which provides end-to-end encryption and is focused on enterprises, unlike every other company. Wire claims that it is the “most secure collaboration platform”. It is now revealed that Wire had raised $8.2M quietly in February which has now been revealed.

Apart from raising funds for the company, TechCrunch reports that Wire also moved its holding company from Luxembourg to the US. Wire’s CEO described this move of moving its holding company as “simple and pragmatic” while giving an interview. Currently, we also know that Wire offers premium subscription services to its enterprise customers. However, Wire’s CEO revealed that a freemium plan inside Wire is coming soon.

Currently, Wire has half a million users and it wants to have a large round of funding to fuel more growth. Wire’s CEO Morten Brogger added that “We knew we needed this funding and additional to support continued growth. We made the decision that at some point in time it will be easier to get funding in North America, where there’s six times the amount of venture capital,”

While Wire’s holding company has now shifted to the US, its other businesses are still kept as it is. The licensing and servicing for the customers is done by Wire Switzerland whereas the software development team is in Berlin while the hosting for Wire remains in Europe. Edward Snowden, the Wikileaks founder, revealed this development by saying that the move is “not appropriate for a company claiming to provide a secure messenger — claims a large number of human rights defenders relied on.”

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