USAA backs cybersecurity startup Enveil

Enveil , a data privacy technology company, closed a $25 million Series B funding round, bringing its total funding to $40 million. The round was led by USAA with participation 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.

Founded in 2016, Enveil’s ZeroReveal® solutions enable organizations to extract insights, cross-match, search and analyze data assets at scale without ever revealing the content of the search itself, compromising the security or ownership of the underlying data, or exposing their interests and intent. It allows data to be securely shared between entities and across organizational, jurisdictional, and security boundaries, expanding data access and utility without the need to move or pool sensitive assets.

“Modern digital business requires crossing global data silos and the current barriers of trust are leaving massive unrealized data value. We leverage breakthroughs in Privacy Enhancing Technologies to bridge the gap and unlock the data value the market demands. We’re excited that this investment will accelerate our ability to take our proven capabilities to a broader range of industries, regions, and use cases.” – Ellison Anne Williams, Founder, and CEO of Enveil.

“Data is the backbone of the digital economy, but the market is experiencing a crisis of trust that restricts the ways in which data can be used. Enveil’s ZeroReveal solutions are changing the data usage landscape by enabling sensitive business and mission functions at scale today, and we’re excited to help push those efforts forward through this investment.” – Nathan McKinley, VP of USAA Corporate Development.