Evervault, a developer-focused platform specialising in encrypting and managing sensitive data, has secured fresh investment totalling $25m.
The company has raised $25m in a Series B funding round led by Ribbit Capital, with participation from Index Ventures, Sequoia Capital, Kleiner Perkins and Operator Partners. The latest investment brings Evervault’s total funding to $46m.
Evervault provides a platform that allows developers to encrypt sensitive information at the point it enters a system, enabling organisations to process data end-to-end without exposing it in plaintext. As digital systems continue to generate and process ever larger volumes of information, many enterprises struggle to track where sensitive data resides, how it is used and who has access to it. The company’s technology is designed to address these challenges by embedding encryption directly into application architecture, helping businesses manage sensitive data more securely while maintaining operational efficiency.
The new funding will be used to expand Evervault’s encryption infrastructure, accelerate product development and grow its engineering and product teams. By strengthening its platform, the company aims to help organisations better secure regulated data while supporting increasingly complex digital services and data flows.
Evervault has initially focused on securing card payments, an area widely recognised as one of the most regulated and technically demanding categories of data. The company has seen strong growth in recent months, reporting more than four times year-on-year revenue growth. Over the past year, its systems processed more than $5bn in transaction volume and generated over 100 million encrypted tokens each month.
Through more than 7,000 integrations with banks and financial institutions, Evervault’s platform enables businesses to collect, process and route card data without the information touching their own infrastructure. The technology also helps organisations simplify Payment Card Industry (PCI) compliance requirements by allowing them to create a unified payment orchestration layer through a single integration. According to the company, customers can reduce PCI DSS compliance costs by around $100 thousand, achieve compliance up to 95% faster and deploy secure payment systems in a matter of days rather than weeks.
Evervault founder and CEO Shane Curran said, “Most compliance frameworks assume sensitive data will exist in plaintext somewhere, but with automated, high-velocity data exchange, that’s a liability. At Evervault, we believe sensitive data should be treated like hazardous material. Systems must be designed so it isn’t touched in the first place. We’re building the Internet’s trust layer, embedding encryption directly into the application architecture so it stays encrypted by default, not by policy alone.”
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