RegTech100 cybersecurity startup Enveil has raised a $10m Series A round to fund its global ambitions.
Investor C5 Capital led the round. The investment firm has a long history of supporting innovative cybersecurity companies, having backed Shape Security, IronNet Cybersecurity, Blue Cedar and 4iQ in the past.
Enveil’s Series A round was also supported by other investors, including Mastercard, Capital One Ventures, Bloomberg Beta and 1843 Capital.
This round builds on the $4m strategic funding round raised through Thomson Reuters, Bloomberg Beta and Data Tribe and an undisclosed investment from strategic investor In-Q-Tel. Both those capital injections happened in 2017.
Enveil will leverage the funding to globally advance the business-enabling capabilities of its ZeroReveal product line for performing secure search, analytics, sharing and collaboration of sensitive data assets.
Since its launch in 2016, Enveil has made a name for itself as pioneer in homomorphic encryption, which enables the company to protect the company to protect data while its being used.
“It allows organisations to securely search, cross-match and derive insights from third-party data sources without ever revealing the contents of the search or analytic or compromising the security or ownership of the underlying data,” Ellison Anne Williams, founder and CEO of Enveil, recently explained to RegTech Analyst.
This expertise has already given the company a lot of recognition, including a place on the coveted RegTech100 list of the 100 most innovative companies in the global industry.
“Over the past three years, we’ve successfully created a market, solidified customer use cases, executed enterprise deployments and expanded our capabilities for protecting data in use where it is and as it is today,” said Williams. “We are privileged to be joined by this strong team of investors who recognise both our leading technical capabilities and the converging, cross-functional data protection requirements in this category – ZeroRevea is here to address privacy challenges on a global scale.”
Copyright © 2018 RegTech Analyst