The data security company Enveil today announced it has raised $4 million in strategic funding from key partners, including Thomson Reuters and a USAA affiliate as well as additional investment from Bloomberg Beta and DataTribe.

The company, based in Washington, D.C., says it will leverage this capital to enhance its platform, expand operations, and execute a go-to-market strategy that will increase availability of Enveil’s Never Decrypt computation capability.

According to Enveil, existing encryption capabilities have traditionally focused on protecting data while at rest or in transit, ignoring the security posture of users’ interactions with data, or data in use.

Enveil was founded in September 2016 to address what it claims is a security blind spot. Using technology initially spearheaded inside the National Security Agency, Enveil says it is the only scalable commercial solution specifically engineered to protect data while it is being processed. Enveil allows enterprises to securely operate on both encrypted and unencrypted data in the cloud, on premise, or anywhere in between.

“The inconvenient truth of data security is that securing data end-to-end requires meaningful protection at every step, and Enveil is the only company addressing the critical point of exposure that occurs when data is put to use,” Ellison Anne Williams, Enveil founder and CEO, said in a press release.

This new round of funding follows on the heels of $1 million in seed funding from DataTribe in late 2016.

Leave a Reply