Evervault has announced a fresh round of funding, raising $25 million in Series B financing. This brings the company’s total funding to $46 million. The new investment was led by Ribbit Capital, with support from Index Ventures, Sequoia Capital, Kleiner Perkins, and Operator Partners. The funds will help Evervault develop infrastructure that allows companies to handle sensitive data securely and keep it encrypted throughout every step.

Building a Safer Data Environment

Evervault’s goal is to create a data infrastructure where sensitive information remains encrypted from start to finish. This approach helps companies reduce security risks and stay compliant with strict regulations. The company has gained customers in payments and fintech, including CarTrawler, Ramp, Rippling, Overwolf, and Uniswap. These organizations rely on Evervault to manage highly regulated data without exposing it to potential breaches or compliance issues.

As digital data continues to grow rapidly—projected to surpass 527 zettabytes by 2029—businesses face increasing challenges in tracking where sensitive information is stored and who has access. Traditional systems often assume data exists in plaintext somewhere, which can be risky. Evervault’s vision is to treat sensitive data like hazardous material, designing systems so it isn’t touched or exposed unnecessarily. Their technology embeds encryption directly into applications, making data stay encrypted by default.

The Impact of AI and Automated Workflows

The rise of generative AI tools and automated processes adds complexity to data security. These technologies move data through systems at high speeds, making it harder to secure with old methods. Relying on storing data in plaintext during processing increases the risk of leaks or breaches. Evervault’s infrastructure aims to address these issues by enabling encrypted data processing, reducing exposure at every step.

The new funding will be used to expand Evervault’s encryption infrastructure and accelerate the development of new products. The company plans to grow its engineering and product teams to meet increasing demand for secure data solutions. A key focus will be enhancing the platform’s ability to orchestrate sensitive data, allowing developers to encrypt data at entry points and process it without revealing the information to internal systems.

This approach simplifies security management and supports building complex digital services while maintaining strong data privacy. Evervault’s technology aims to be the backbone for secure digital operations across various industries, especially those with strict regulatory requirements.

Early Success in Payments and Finance

One of Evervault’s initial focus areas has been payment processing, a space known for tight regulatory standards. The company has built infrastructure that enables businesses to collect and process card data without ever storing it in their internal systems. This reduces compliance burdens and lowers the risk of data breaches.

Over the past year, Evervault has seen significant growth. The company reports more than four times the revenue compared to the previous year. Its platform has processed over $5 billion in transactions and generates more than 100 million encrypted tokens each month. These numbers highlight the increasing demand for secure data infrastructure in financial services and beyond.

Overall, Evervault’s latest funding round marks a big step forward in its mission to make data encryption seamless and accessible for businesses. As the digital economy grows, solutions like theirs will be essential for protecting sensitive information and building trust in online systems.

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