Data security solution Enveil has received an undisclosed amount of funding from non-profit strategic investor In-Q-Tel.
US-based Enveil enables businesses to secure and encrypt their data within the cloud, while also performing search and analytics operations with the data still encrypted, to improve security. Through this method, it means data is never exposed during its lifecycle and ensure a business complies with regulations on security, especially with the upcoming General Data Protection Regulation (GDPR).
The company’s technology is used across a range of verticals including financial services, healthcare, data monetization, audit and compliance and cloud security.
Equity from In-Q-Tel will be used to further product development and growth, as well as providing chances to enhance the solutions offerings.
IQT managing partner Steve Bowsher said, “Enveil eliminates a security blind spot by ensuring data remains encrypted while in use. The company’s ability to close this security gap and protect Data in Use at scale addresses important requirements for both the government and the broader commercial market.”
This round of funding comes just a month after Enveil closed its $4m strategic investment from Reuters. Capital from the previous round was raised to support Enveil as it deploys its go-to-market strategy to make the product available more widely.
Last year the North American market has dominated the security technology sector with it accounting for over three-quarters of the activity.
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