Evervault Raises $25M Funding In Series B Round To Expand Encrypted Data Platform

The round was led by Ribbit Capital, with participation from Sequoia Capital and Index Ventures, bringing Evervault’s total funding to €39 million ($46 million).

Focused on protecting sensitive and regulated data, Evervault has gained traction in card payments, serving hundreds of global customers including CarTrawler, Ramp, Rippling, Overwolf, and Uniswap.

As the world’s data footprint is projected to exceed 527 zettabytes by 2029, enterprises increasingly struggle to locate, manage and secure sensitive data. The rise of generative AI and agentic workflows has further accelerated data complexity, making compliance and protection even more challenging.

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Evervault enables developers to encrypt sensitive data at the point of entry and process it end-to-end without exposing plaintext, operating at the speed of data. The company’s initial focus on card payments one of the most regulated and complex data categories has delivered strong results.

Over the past year, Evervault achieved 4x year-over-year revenue growth, processed over $5 billion in transaction volume, and generated more than 100 million encrypted tokens monthly.

Through 7,000+ integrations with banks and financial institutions, Evervault allows customers to collect, process, and route card data without it touching their own infrastructure.

The platform also simplifies PCI DSS compliance, helping companies build secure payment orchestration layers with a single integration reducing compliance costs by an average of $100,000, achieving compliance 95% faster, and enabling secure payment systems to launch in days rather than weeks.

Beyond payments, Evervault delivers secure, encrypted workflows for a wide range of applications involving highly regulated and complex data, positioning itself as a clearinghouse for sensitive data on the Internet.

“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 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."

About Evervault

Evervault is a developer-first platform that helps companies encrypt and manage sensitive data without exposing it in plaintext. Its card payments solution combines encryption, 3D Secure authentication, network tokens, and data enrichment in one integration. Founded in 2019 Evervault enables businesses to simplify PCI compliance and securely manage payment infrastructure.