Evervault Raises $25M Series B to Eliminate Plaintext Sensitive Data Across the Internet

Summary

Evervault, a data security infrastructure company, has announced a $25 million Series B funding round led by Ribbit Capital, with participation from Sequoia Capital, Index Ventures, Kleiner Perkins, and new investors including Operator Partners. The company, which has now raised $46 million total, is building what it calls "the clearinghouse for sensitive data" — infrastructure that allows companies to encrypt sensitive information at the edge and operate on it end-to-end without ever exposing plaintext data.

The company's initial focus has been on payment card data, helping developers offload PCI DSS compliance burden by encrypting card information before it touches their systems. Evervault has achieved significant traction with this approach, processing over $5 billion in transaction volume and generating more than 100 million encrypted tokens monthly. Customers including Ramp, Rippling, Uniswap, CarTrawler, and Overwolf use the platform to build programmable payment orchestration layers while dramatically reducing compliance scope and security risk.

Founder and CEO Shane Curran frames the company's mission as solving a fundamental architectural problem: the gap between how fast data travels in modern systems and how slowly security adapts. Rather than layering on more compliance frameworks, Evervault aims to eliminate the need for companies to handle sensitive data in plaintext at all. The company's technology includes deep integrations with over 7,000 banks and financial institutions, enabling developers to combine 3D Secure, network tokens, and fraud enrichment into a single integration without custody of card data.

• Major customers including Ramp, Rippling, and Uniswap use the platform to build payment orchestration layers without expanding their security risk surface