Developer-focused data security company Evervault on Thursday announced raising $25 million in Series B financing to expand its infrastructure and team.
The round was led by Ribbit Capital with participation from Index Ventures, Sequoia Capital, Kleiner Perkins, and Operator Partners.
The company has raised $46 million in total funding, with the latest capital set to support product development, engineering and product team growth, and expansion of its encryption system.
Founded in 2019, Evervault provides a platform that allows organizations to encrypt and orchestrate sensitive data without accessing it in plaintext.
The platform integrates encryption with features like authentication, token management, and data enrichment, particularly for handling card payments.
It includes tools such as a relay proxy for securing network requests, secure environments for running code on encrypted information, user interface elements for collecting payment details, and isolated containers for processing sensitive workloads.
“Most compliance frameworks assume sensitive data will exist in plaintext somewhere, but with automated, high-velocity data exchange, that’s a liability,” said Shane Curran, founder and CEO of Evervault.
“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,” Curran added.
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