Led by Ribbit Capital, new round brings total funding to $46 million
Evervault, the developer-first platform for encrypting and orchestrating sensitive data, announced it has raised $25 million Series B financing led by Ribbit Capital with participation from Index Ventures, Sequoia Capital, Kleiner Perkins and Operator Partners. The round brings Evervault’s total funding to $46 million, and will be used to expand its encryption infrastructure, invest in product development, and grow its engineering and product teams. Focused on protecting sensitive, regulated data, Evervault has gained significant traction in card payments and serves hundreds of global customers, including CarTrawler, Ramp, Rippling, Overwolf and Uniswap.
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The world’s data footprint is on track to reach more than 527 zettabytes by 2029, with total global data volumes doubling roughly every three years. Yet enterprises still struggle to understand where sensitive data lives, how it is being used, and who has access to it. Generative AI and agentic workflows have further compounded this growth, making it even more difficult for organizations to keep pace with data protection and compliance. Operating at the speed of data, Evervault enables developers to encrypt sensitive data at the point of entry and process it from end-to-end without exposing it in plaintext.
“Most compliance frameworks assume sensitive data will exist in plaintext somewhere, but with automated, high-velocity data exchange, that’s a liability,” said Shane Curran, founder and CEO of Evervault. “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.”
With a goal of becoming the Internet’s clearinghouse for sensitive data, Evervault has initially focused on card payments, one of the most regulated and complex data categories. Over the past year, the company achieved more than four times year-over-year revenue growth and processed over $5 billion in transaction volume, generating over 100 million encrypted tokens each month. Through over 7,000 integrations with banks and financial institutions, customers can collect, process and route card data without it touching their own infrastructure. Evervault also streamlines Payment Card Industry (PCI) compliance by allowing companies to build a secure, unified payment orchestration layer through a single integration. On average, customers cut PCI DSS (Data Security Standard) compliance costs by $100 thousand, achieve compliance 95% faster, and ship secure payment systems in days rather than weeks.
“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,” said Justin Saslaw, general partner at Ribbit Capital. “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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