April 27, 2022

TechCrunch: Enveil, a provider of encrypted, privacy-focused search and analytics tools, raises $25M

Enveil's Series B funding round includes a number of big-name strategic backers, underscoring the demand for such tools in the market among enterprises and the opportunities ahead

Enveil’s big pitch is that it is one of a very small handful of security startups that’s been working to commercialize the concept of homomorphic encryption. This is an approach to data privacy that was developed initially in a hypothetical context by researchers — in essence, it’s a cryptographic approach that involves encrypting with mathematical calculations to let companies analyze and use encrypted data without needing to decrypt it — and for some it’s most notable as a kind of holy grail concept that for many years looked like it might actually be impossible to execute.

[Ellison Anne] Williams notes that Enveil has proven those naysayers wrong by indeed finding ways to apply the concepts, along with those from other privacy-enhancing tools such as secure multiparty computation, in commercial products.

“Skepticism is awesome because it gives us a lot of opportunity to prove them wrong,” she said. “Our IP and what is special is how you take the addition and multiplication central to encryption and build them into complex business functionality.”

Enveil currently offers two products, which are both marketed under its “ZeroReveal” brand: first, an encrypted search tool that lets users keep encryption in searches even when they are made outside of their own network of apps; and second, machine-learning tool, which the company notes “enables advanced decisioning through collaborative and federated machine learning in a secure and private capacity.”

Read the full article here.

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Enveil is a pioneering Privacy Enhancing Technology company protecting Data in Use. Enveil’s business-enabling and privacy-preserving capabilities change the paradigm of how and where organizations can leverage data to unlock value. Defining the transformative category of Privacy Enhancing Technologies (PETs), Enveil’s award-winning ZeroReveal® solutions for secure data usage, sharing, collaboration, and monetization protect data while it's being used or processed. Customers can 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.
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