Evervault has raised $25 million in Series B financing, bringing its total funding to $46 million. The round was led by Ribbit Capital, with participation from Index Ventures, Sequoia Capital, Kleiner Perkins, and Operator Partners. The funding supports Evervault’s effort to build infrastructure that allows companies to manage sensitive data while keeping it encrypted throughout the entire process.

The company has attracted a growing customer base across payments and fintech, including CarTrawler, Ramp, Rippling, Overwolf, and Uniswap. These organizations rely on Evervault’s infrastructure to handle highly regulated data while reducing exposure to security and compliance risks.

Why encrypted infrastructure is becoming a business priority

Global data volumes are growing at a dramatic pace. Analysts estimate the world’s digital data footprint could exceed 527 zettabytes by 2029, doubling roughly every three years. At the same time, companies often struggle to track where sensitive information lives, how it moves across systems, and who has access to it.

“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.”

Shane Curran, founder and CEO of Evervault.

The rise of generative AI tools and automated workflows adds another layer of complexity. These technologies accelerate how quickly data moves through systems, which increases the risk of exposure when traditional security approaches rely on storing information in plaintext somewhere in the pipeline.

Where the new capital will go

Evervault plans to use the Series B funding to expand its encryption infrastructure and accelerate product development. The company also intends to grow its engineering and product teams as demand for secure data infrastructure increases.

Another priority is expanding the platform’s capabilities around sensitive data orchestration. By allowing developers to encrypt information at the point of entry and process it without exposing it, Evervault aims to simplify how companies manage security while building complex digital services.

Early traction in payments and financial infrastructure

One of Evervault’s first areas of focus has been card payments, a category known for strict regulatory requirements. The company has built infrastructure that allows businesses to collect and process card information without it ever touching their internal systems.

Over the past year, Evervault reports more than four times year over year revenue growth. The platform processed over $5 billion in transaction volume and generates more than 100 million encrypted tokens every month. Through more than 7,000 integrations with banks and financial institutions, companies can route and process card data without storing sensitive information locally.

The platform also helps businesses reduce the burden of Payment Card Industry Data Security Standard (PCI DSS) compliance. According to the company, customers cut PCI compliance costs by about $100,000 on average, achieve compliance 95 percent faster, and launch secure payment systems in days instead of weeks.

Investor perspective on the growing data security challenge

Investors see secure data infrastructure as a major challenge for companies operating in increasingly automated digital environments.

“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.”

Justin Saslaw, general partner at Ribbit Capital.

Evervault was founded in 2019 by Shane Curran and operates between New York and Dublin. The company focuses on helping developers encrypt and orchestrate sensitive data without ever exposing it in plaintext.

Organizations use the platform to build payment orchestration layers that combine encryption, authentication, network tokens, and card data enrichment in a single integration. By keeping sensitive information encrypted throughout the workflow, Evervault aims to give companies more control over how regulated data moves through their systems.

Origianl Creator: Paulo Palma
Original Link: https://justainews.com/companies/funding-news/evervault-raises-25m-series-b-for-data-encryption-platform/
Originally Posted: Thu, 05 Mar 2026 13:20:33 +0000