Evervault Raises $25 Million Series B to Secure the Internet's Sensitive Data Layer

Evervault, the developer-first platform for data encryption and orchestration, announced a $25 million Series B financing round today. Led by Ribbit Capital, the investment included participation from industry heavyweights like Sequoia Capital, Index Ventures, and Kleiner Perkins. This latest injection brings the company total funding to $46 million as it seeks to solve the growing complexity of data protection in an AI-driven landscape.

Protecting the Internet's Trust Layer

Founded in 2019 by Shane Curran, Evervault emerged from a vision to simplify data privacy for developers. Curran, a former BT Young Scientist winner, started the company to treat sensitive data like hazardous material that should never be handled in plaintext. By using secure computing environments, the platform allows businesses to process information without it ever touching their core infrastructure. The company has found significant success in the card payments sector, helping hundreds of global customers like Ramp and Uniswap. Its infrastructure enables companies to collect and route payment data through 7,000 bank integrations while significantly reducing the cost of PCI compliance. On average, clients cut compliance expenses by $100,000 and deploy secure payment systems in days rather than weeks. Evervault reported more than four times year-over-year revenue growth and currently processes over $5 billion in transaction volume. As global data volumes are expected to double every few years, the demand for cryptographic guarantees over simple policy-based security has surged. The new capital will be used to grow the engineering team and expand into new verticals like identity and healthcare.

Justin Saslaw of Ribbit Capital described managing sensitive data as one of the defining infrastructure challenges of the decade. He noted that Evervault turns a compliance burden into a foundation for faster innovation. By embedding encryption directly into application architecture, the company aims to become the clearinghouse for the internet's most sensitive information.

Evervault announced today that it has raised $25 million in Series B financing to accelerate the development of its end-to-end encryption platform. The investment round was led by Ribbit Capital and saw participation from existing investors including Sequoia Capital, Index Ventures, and Kleiner Perkins. This latest influx of capital brings the company's total funding to $46 million since its inception. The Dublin-based startup provides a developer-first platform that allows companies to encrypt and orchestrate sensitive information without ever handling it in plaintext. By treating sensitive data like hazardous material, Evervault ensures that information is protected from the moment it enters a system. This approach allows organizations to build secure applications while maintaining high-velocity data exchange through simple APIs.

The company has seen significant momentum in the card payments space, where it currently processes over $5 billion in transaction volume. By generating over 100 million encrypted tokens each month, the platform helps hundreds of global customers like Ramp and Uniswap manage regulatory burdens. This growth has resulted in a fourfold increase in revenue over the past year as businesses seek more robust security measures.

For many enterprises, the platform serves as a critical tool for streamlining PCI DSS compliance. Customers report cutting compliance costs by an average of $100,000 and achieving certification 95 percent faster than traditional methods. This efficiency allows engineering teams to ship secure payment systems in a matter of days rather than weeks, removing a significant bottleneck to innovation.

Founded by Shane Curran in 2019, the company traces its roots back to a prize-winning quantum-secure storage solution created during his teenage years. Curran's vision is to move beyond mere policy-based security toward a future defined by cryptographic guarantees embedded in the internet's architecture. The company was notably Sequoia Capital's first seed investment outside the United States.

Justin Saslaw, general partner at Ribbit Capital, noted that managing sensitive data safely has become a defining infrastructure challenge of the decade. The firm believes the platform turns compliance burdens into a foundation for faster innovation across nearly every industry. This investment confirms the massive global scale of the problem the startup aims to solve for the modern enterprise.