Enveil, a startup focused on data encryption, has inked $25m from a funding round headed by USAA.
The round also saw investment from investors including Mastercard, Capital One Ventures, C5 Capital, DataTribe, Cyber Mentor Fund, Bloomberg Beta, 1843 Capital, In-Q-Tel and GC&H.
Since its founding back in 2016, Enveil has raised a total of $40m in venture capital investment.
Enveil is a privacy enhancing technology firm that protects data in use. The company’s business-enabling and privacy-preserving capabilities for secure data search, sharing and collaboration project data while its being used or processed.
The company said its new funding will be used to expand sales, product development and marketing activity to capitalise on a growing global need for tools to manage computation against encrypted data in secure ways.
Enveil claims its decentralised approach allows data to be securely shared between entities and across organisational, jurisdictional and security boundaries, expanding data access and utility without the need to move or pool sensitive assets.
Enveil said, “These business and mission-enabling capabilities allow data to be used in ways that were not previously possible.”
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