Evervault, a New York and Dublin-based developer-first platform for encrypting and orchestrating sensitive data, today announced it has raised €21 million ($25 million) Series B financing to expand its encryption infrastructure, invest in product development and grow its engineering and product teams.
The round was led by Ribbit Capital with participation from Sequoia Capital and Index Ventures. The round brings Evervault’s total funding to €39 million ($46 million).
“Most compliance frameworks assume sensitive data will exist in plaintext somewhere, but with automated, high-velocity data, that’s a liability,” says Shane Curran, founder and CEO of Evervault.
Evervault’s €21 million Series B comes amid continued investment in encryption, digital trust and security infrastructure startups across Europe.
Recent examples include Zama in Paris, which raised €49 million to advance fully homomorphic encryption for encrypted computation and confidential smart-contract execution, and Evertrust, also based in Paris, which secured €10 million in Series A funding to scale its sovereign PKI and certificate lifecycle management platform. In Austria, Quantum Industries raised €9.5 million to commercialise quantum-secure communications technology for critical infrastructure networks.
Earlier-stage funding rounds include Dublin-based Mirror Security, which raised €2.1 million to develop encryption technology aimed at securing AI systems, notably placing it in the same country as Evervault, and Zurich-based Soverli, which secured €2.2 millionto build a sovereign smartphone security layer designed to maintain operational security even if the underlying mobile OS is compromised.
Meanwhile, Antwerp-based XFA raised €1.5 million to expand its cybersecurity platform for identifying unmanaged devices in hybrid workplaces.
Together, these rounds represent roughly €74 million in funding flowing into encryption and cybersecurity infrastructure startups in 2025–2026, indicating investor interest in technologies that enable secure data processing, digital trust frameworks and privacy-preserving computation.
“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,” adds Shane.
Founded in 2019, Evervault 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.
The company has gained traction in card payments and serves hundreds of global customers, including CarTrawler, Overwolf, Ramp and Rippling.
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, Evervault says 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 organisations to keep pace with data protection and compliance.
With a goal of becoming the Internet’s clearing house 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 has reportedly achieved more than four times YoY revenue growth and processed over €4.2 billion ($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 €86k ($100k), 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 every company now has to figure out how to handle it safely,” says Justin Saslaw, general partner at Ribbit Capital. “This is a massive, global problem that touches nearly every industry. Evervault is building the core infrastructure to move and process that data securely, turning a major compliance burden into a foundation for faster innovation.”
Read the orginal article: https://www.eu-startups.com/2026/03/irish-founded-startup-evervault-raises-e21-million-to-advance-encrypted-data-orchestration/
