Evervault has secured $25 million in Series B financing led by Ribbit Capital, with participation from Index Ventures, Sequoia Capital, Kleiner Perkins, and Operator Partners, bringing total funding to $46 million to expand its encryption infrastructure, accelerate product development, and grow engineering and product teams.
Evervault continues to address one of the most pressing challenges in modern data infrastructure: securely managing exploding volumes of sensitive information amid rapid growth in generative AI, agentic workflows, and high-velocity data exchange. With global data projected to exceed 527 zettabytes by 2029, enterprises face increasing difficulty in tracking, protecting, and complying with regulations around sensitive data usage and access.
Evervault’s developer-first platform embeds encryption directly into application architecture, ensuring sensitive data remains encrypted by default rather than relying solely on policy controls. This “encryption-in-use” approach treats sensitive data like hazardous material—preventing plaintext exposure even during processing.
“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.”
The company has initially targeted card payments—one of the most heavily regulated data categories—achieving more than 4x year-over-year revenue growth. Evervault processes billions in transaction volume annually, generates over 100 million encrypted tokens monthly, and supports more than 7,000 integrations with banks and financial institutions. Customers can collect, process, and route card data without it touching their infrastructure, streamlining PCI DSS compliance through a unified payment orchestration layer.
"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."
Evervault’s solution extends beyond payments to support secure, encrypted workflows for any application involving highly regulated or complex data, positioning the company as a foundational layer for trust in data-intensive systems.
About Evervault
Evervault is a developer-first platform that enables companies to encrypt and orchestrate sensitive data without ever handling it in plaintext. The company's card payments solution combines encryption with 3D-Secure authentication, network tokens and card data enrichment in a single integration. Hundreds of organizations use Evervault to build payment orchestration layers that let them reduce PCI compliance scope, ship faster, and maintain full control over their payment infrastructure. Founded in 2019 and backed by Ribbit Capital, Sequoia and Index, Evervault is building the internet's clearing house for sensitive data.
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