Enveil Secures $25 Million in Series B Funding

Enveil, the pioneering Privacy Enhancing Technology company protecting Data in Use, announced that it has closed $25 million in Series B funding. The oversubscribed round was led by USAA with contributions from existing investors which include Mastercard, Capital One Ventures, C5 Capital, DataTribe, In-Q-Tel, Cyber Mentor Fund, Bloomberg Beta, GC&H, and 1843 Capital. Building on an over 300% increase in revenue achieved since closing its Series A funding, Enveil will leverage the capital to expand sales, product development, and marketing activity to capitalize on the accelerating market need to span global data silos and enable secure and private data usage, sharing, collaboration, and monetization. This brings the total amount raised by the category-defining startup to more than $40 million since its formation in 2016. "Modern digital business requires crossing global data silos and the current barriers of trust are leaving massive unrealized data value" Digital transformation, the rise of the digital economy, and the broad recognition of data as an asset have transformed global data usage requirements.