Evervault, a NYC-based developer-first platform for encrypting and orchestrating sensitive data, has raised $25 million in a Series B funding round led by Ribbit Capital.
The round also saw participation from Index Ventures, Sequoia Capital, Kleiner Perkins, and Operator Partners.
The round brought the company’s total funding to $46 million.
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The company plans to use the funds to expand its encryption infrastructure, invest in product development, and grow its engineering and product teams.
Evervault is a developer-first platform for encrypting and managing sensitive data. Focused on protecting regulated data, the company has gained strong traction in card payments and serves hundreds of global customers, including CarTrawler, Ramp, Rippling, Overwolf, and Uniswap.
Global data is expected to exceed 527 zettabytes by 2029, doubling about every three years. However, many companies still struggle to track where sensitive data is stored, how it is used, and who can access it. The rise of generative AI and automated workflows has made this challenge even greater. Evervault helps solve this by allowing developers to encrypt sensitive data at the point of entry and process it securely without exposing it in plain text.
Evervault aims to become the internet’s central platform for handling sensitive data. It first focused on card payments, one of the most regulated and complex data types. Over the past year, the company grew revenue more than four times year over year and processed over $5 billion in transactions, creating more than 100 million encrypted tokens each month.
With over 7,000 integrations with banks and financial institutions, customers can collect, process, and route card data without storing it on their own systems. Evervault also simplifies PCI compliance, enabling companies to build a secure payment system with a single integration. On average, customers reduce PCI DSS compliance costs by about $100,000, achieve compliance 95% faster, and launch secure payment systems in days instead of weeks.
“Most compliance systems assume sensitive data will exist in plain text at some point, but with fast and automated data sharing, that creates risk,” said Shane Curran, founder and CEO of Evervault. “At Evervault, we believe sensitive data should be handled like hazardous material. Systems should be designed so that the data is never exposed. We are building a trust layer for the internet by embedding encryption directly into applications so data stays encrypted by default, not just by policy.”
“The amount of sensitive data moving through digital systems is growing rapidly, and managing it safely has become one of the biggest infrastructure challenges today,” said Justin Saslaw, general partner at Ribbit Capital. “This is a major global issue affecting nearly every industry. Evervault is building the core infrastructure that helps companies handle sensitive data securely without slowing their business, turning a compliance burden into a foundation for faster innovation.”
About Evervault
Founded in 2019 and backed by Sequoia and Index, Evervault is building a central platform for handling sensitive data on the internet. Evervault is a developer-first platform that enables companies to encrypt and manage sensitive data without exposing it in plaintext. Its card payments solution combines encryption, 3D Secure authentication, network tokens, and card data enrichment into a single integration. Hundreds of companies use Evervault to build payment systems that reduce PCI compliance requirements, speed up development, and maintain full control over their payment infrastructure.
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