Data security company Enveil has raised $4 million in strategic funding from investors such as Thomson Reuters and an affiliate of the USAA group of financial services companies.
Enveil said Thursday it will use the money to update the firm’s technology, grow operations and execute a go-to-market strategy to increase the availability of its Never Decrypt data security platform to commercial and government customers.
Never Decrypt works to eliminate the need to decrypt data while performing actions such as search and analytics.
The Enveil platform is designed to help customers securely process encrypted and unencrypted data in the cloud, on-premise or in between.
Enveil also secured a $1 million seed funding from cybersecurity startup accelerator DataTribe last year and was named a runner-up at the RSA Conference’s 2017 Innovation Sandbox contest for startup firms.