WASHINGTON--(BUSINESS WIRE)--Enveil, a pioneering data security company protecting Data in Use, today announced it has secured $4 million in strategic funding with investment from key partners, including Thomson Reuters and a USAA affiliate as well as additional investment from Bloomberg Beta and DataTribe.
Historically, performing actions over data such as search and analytics requires decryption, creating a point of exposure. Enveil’s Never Decrypt computation capability closes this data security gap by ensuring the data and any interactions with it are always concealed and never exposed during the entire processing lifecycle. Enveil will leverage this capital to enhance its innovative platform, expand operations, and execute a go-to-market strategy that will increase availability for commercial and government enterprises throughout the world.
"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," said Ellison Anne Williams, Founder and CEO of Enveil. "We are grateful for this support and believe it is a testament to the value of the solutions we are bringing to market.”
Data attains value through use, but 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 this security blind spot. Initially spearheaded inside the National Security Agency, Enveil 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. This funding will benefit future innovations in this crucial security space, and allow the agile company to continue supporting and improving the product for existing customers.
“Thomson Reuters always looks for new ways to enhance data security across our product portfolio,” said Bob Schukai, Global Head of Design, Digital Identity Solutions for Thomson Reuters. “Understanding these rapidly evolving challenges, we are pleased to support Enveil and its efforts to secure the full data lifecycle.”
USAA Vice President of Corporate Development, Nate McKinley, adds, “Security is a top priority at USAA and we are committed to investing in innovative companies for the benefit of our membership. We are excited to support Enveil’s progress toward securing Data in Use and the possibilities this innovative technology enables.”
On the heels of its $1 million seed funding from DataTribe in late 2016, Enveil was honored to be named as a winner at the 2017 RSA Conference Innovation Sandbox, and was the youngest company ever selected to participate in the annual competition. Enveil continues to gain momentum with customers, including strong traction in the financial industry, with use cases such as secure data monetization, crown jewel data protection, secure cloud migration, and regulatory and compliance liability reduction around issues such as GDPR. This funding will enable Enveil to add essential growth-oriented positions while advancing into new market sectors.
To learn more about Enveil, please visit www.enveil.com.
Enveil is a pioneering data security company working to protect Data in Use. Performing actions such as search and analytics have historically required decryption, creating points of exposure. Enveil’s Never Decrypt computation capability closes this last gap in data security by protecting data while it is in use. Enveil allows enterprises to securely operate on both encrypted and unencrypted data in the Cloud, on prem, or anywhere in between. Users can interact with data at scale in a completely private and secure manner, opening the door to untapped opportunities. Founded by U.S. Intelligence Community alumni with backgrounds in mathematics, algorithmics, and machine learning, Enveil is revolutionizing data security by addressing a Data in Use vulnerability that people have been chasing for more than 20 years. Learn more at https://www.enveil.com.