US-based data security solution Enveil has closed a $4m strategic funding round, with strategic investments coming from Thomson Reuters and a USAA affiliate.
Additional commitments to the funding came from Bloomberg Beta and DataTribe.
Founded in 2016, the company is a data security platform that employs solutions for encrypted and unencrypted data within the cloud. Its ZeroReveal solution is split into two products Compute Fabric and Search. Compute Fabric allows users to perform data operations without having to decrypt the logs, while the Search solution allows to search throughout the encrypted database.
The company’s offering is used by industries including financial services, healthcare, audit and compliance, data monetization, and cloud security.
This line of capital will provide Enveil with support as it looks to execute a go-to-market strategy which will increase availability for commercial and governments worldwide. Equity will also be used to used for product improvements and expansion of its operation.
Enveil founder and CEO Ellison Anne Williams said, “The inconvenient truth of data security is that securing data end-to-end requires meaningful protection at every step, and Enveil is the only company addressing the critical point of exposure that occurs when data is put to use.”
Last year the company received a $1m seed round from DataTribe and earlier this year was named as a winner at the 2017 RSA Conference Innovation Sandbox.
The infrastructure and enterprise software sector was dominated by the North American market last year, with it raising the most capital each quarter. The region saw over $500m more capital deployed than the combined total of the rest of the world, with it seeing $1.3bn invested.
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