Wiretap Raises $5 Million

Security startup Wiretap announced it has raised $5 million in Series A financing. Four investors contributed to the round: Draper Triangle Ventures, Rev1 Ventures, JumpStart, and Innovation Ohio Loan Fund.

Tools like Office 365, Slack, and Yammer have been increasingly adopted by enterprises to collaborate efficiently and get answers immediately, but many enterprise social networks (ESN) house a myriad of data that can be hard to discover, like private messages and files. Wiretap is a cloud security platform that seeks to use the latest advancements in cognitive computing, artificial intelligence, and behavioral analytics to amplify enterprise value by monitoring the ESNs.

In its announcement, the company said proceeds will fuel go-to-market sales, marketing, and continued research and development.