Evervault, a developer-focused platform for encrypting and managing sensitive data, has raised $25 million in a Series B funding round.
The round was led by Ribbit Capital, with participation from existing investors Sequoia Capital and Index Ventures. The new investment brings Evervault’s total funding to $46 million.
The company plans to use the capital to expand its encryption infrastructure, accelerate product development, and grow its engineering and product teams.
Managing Sensitive Data In A Growing Digital Economy
As global data volumes continue to rise, companies face increasing challenges in identifying, securing, and managing sensitive information. The growing adoption of generative AI and automated digital workflows has further increased the complexity of handling regulated data.
Evervault focuses on solving this challenge by allowing developers to encrypt sensitive information at the point where it enters a system. The platform then enables the data to be processed securely without exposing it in plaintext.
This approach allows companies to build systems where sensitive information remains encrypted throughout the data lifecycle.
Advertisement
Strong Adoption In Payment Infrastructure
Evervault initially focused on securing card payment data, one of the most tightly regulated categories of digital information.
The platform enables companies to collect and process payment data without it passing through their own infrastructure. Through thousands of integrations with financial institutions, the system allows businesses to route and manage payment data securely while simplifying compliance requirements.
Over the past year, the company reported strong growth, processing more than $5 billion in transaction volume and generating over 100 million encrypted tokens each month.
The platform is used by hundreds of global companies, including CarTrawler, Ramp, Rippling, Overwolf, and Uniswap.
Simplifying Compliance And Secure Workflows
In addition to securing payment infrastructure, Evervault provides tools for managing sensitive data across a wide range of applications.
The platform helps companies reduce the complexity of compliance processes such as PCI DSS by embedding encryption directly into application architecture. This approach can reduce compliance costs and accelerate deployment of secure payment systems.
Beyond payments, Evervault aims to provide a secure infrastructure layer for handling highly regulated data across industries.
About Evervault
Evervault is a developer-first platform that enables companies to encrypt and manage sensitive data without exposing it in plaintext. Founded in 2019 and headquartered in New York and Dublin, the company provides infrastructure for secure data processing, payment systems, and compliance workflows.
