Evervault Raises $25M in Series B Funding to Expand Data Encryption Infrastructure

Evervault is building the kind of infrastructure the internet should have had from the beginning. The company just raised $25M in Series B funding to make sure the vault door actually locks while everyone’s inside counting money.

Ribbit Capital led the round with continued backing from Sequoia Capital, Index Ventures, Kleiner Perkins, and Next Play Ventures, alongside new participation from Operator Partners. Serious capital from investors who have seen enough fintech chaos to know one thing for certain. If sensitive data is moving, somebody better be guarding it like it matters.

Shane Curran has been obsessed with that problem for years. Founder and CEO of Evervault, Shane Curran built the company around a simple but uncomfortable truth about the internet. For decades we treated sensitive data like a hot potato. Encrypt it here. Decrypt it there. Hope nobody was watching in the middle.

Evervault decided that dance was ridiculous. Instead, the platform keeps sensitive data encrypted from the moment it’s captured and lets developers actually process it without exposing the raw information. Payments, identity, financial data. The stuff regulators stare at and security teams lose sleep over.

The market clearly noticed. Evervault now secures more than $5B in payment flows every year and generates over 100M unique tokens every month. The platform connects to more than 7,000 banks and financial institutions, giving companies the ability to route card data without letting that data touch their own infrastructure. Customers like Ramp, Rippling, Finix, Overwolf, Uniswap Labs, and CarTrawler are already leaning into the model, which says a lot about where modern fintech security is heading.

The growth tells the same story. Evervault is seeing 3x year over year revenue expansion while quietly becoming the trust layer behind some of the most sensitive transactions moving across the internet.

PCI compliance has always been the tax companies pay for handling card data. Expensive. Slow. Painfully complex. Evervault flips the economics by shrinking PCI scope, cutting roughly $100K in compliance costs on average, and accelerating implementation timelines by as much as 95%. What used to take weeks suddenly takes days.

With teams across Dublin, London, and New York, Evervault is positioning itself as the clearinghouse for sensitive data in a world producing more of it every second. AI systems are hungry for information, payments infrastructure is expanding globally, and companies are realizing that handling plaintext data in 2026 feels about as smart as leaving your safe open during business hours.

The smartest founders do not just build software. They build trust infrastructure. Shane Curran and the Evervault team are doing exactly that, and this round gives them more oxygen to scale the quiet machinery that keeps the modern internet from breaking.