Evervault, a developer-first platform focused on encrypting and managing sensitive data, has secured new investment of $25m.
The company announced it 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 developers with tools designed to encrypt sensitive data at the moment it enters a system, allowing organisations to process and manage that information without exposing it in plaintext. The platform is aimed at businesses handling regulated or high-risk data, particularly in sectors such as payments and financial services where strict compliance obligations apply.
As the volume of global data continues to grow rapidly, many enterprises face challenges understanding where sensitive information resides and how it is accessed across their systems. The company positions its technology as a way to address this problem by embedding encryption directly into application infrastructure, enabling secure data processing from end to end while reducing exposure risks.
The new funding will be used to expand Evervault’s encryption infrastructure, invest further in product development and scale its engineering and product teams. The company is seeking to strengthen its platform capabilities as organisations increasingly adopt AI-driven systems and automated workflows that generate and process large amounts of data.
Evervault has initially focused heavily on card payments, an area known for strict regulatory requirements and complex compliance frameworks. Over the past year the company reported more than four times year-over-year revenue growth and processed more than $5bn in transaction volume, generating over 100 million encrypted tokens every month.
Through more than 7,000 integrations with banks and financial institutions, customers are able to collect, process and route card data without it touching their own infrastructure. The platform also helps businesses streamline Payment Card Industry (PCI) compliance, allowing them to create a unified payment orchestration layer through a single integration. According to the company, organisations using the platform can cut PCI DSS compliance costs by roughly $100,000, reach compliance 95% faster and launch secure payment systems in 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.”
Ribbit Capital general partner Justin Saslaw said, “The amount of sensitive data flowing through digital systems is exploding, and managing it safely has become one of the defining infrastructure challenges of this decade. This is a massive, global problem impacting nearly every industry. Evervault is building the core infrastructure that lets companies handle that data securely without it becoming an anchor on their business, turning what was previously a compliance burden into a fundamental foundation for faster innovation.”
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