Evervault raises €2.9m investment led by Sequoia
17 October 2019 | 0
Evervault, a Dublin-based company founded by 2017 BT Young Scientist & Technology Exhibition winner Shane Curran, has raised €2.9 million in seed investment led by Sequoia Capital for his company Evervault.
Evervault is building the world’s first cloud-based secure processing product. It is developing infrastructure to bridge secure cloud hardware and Web/mobile applications in response to companies fears of breaching customer data.
The company hosts a network of hardware-secured data processing enclaves which allow developers to easily deploy applications in privacy cages. This allows information to be processed securely in strictly controlled hardware-hardened containers, without changing the way the software is built.
Developers integrate with the Evervault API through its publicly available developer SDKs for all major architectures and frameworks.
“It is disappointing that the data privacy toolkit for developers is still entirely lacklustre in 2019. The support and backing from some of the best investors in the world provides an exciting opportunity to accelerate us on our path to fundamentally re-architect how our personal data is handled,” said Curran, who is still only 19-years-of-age. “I believe we can start a generational shift in how we can approach these problems, by building the privacy tools necessary to support technology builders and creators.
“I’m thrilled to be on this journey and look forward to growing our world-class team here in Dublin to work towards our mission of making data privacy simple and accessible for all.”
On top of his BTYSTE win, Curran was one of 2018’s Forbes 30 Under 30.
Kleiner Perkins, Frontline, SV Angel and leading tech innovators and investors also invested in the company.
“Data is king, and the team at Evervault is on a mission to solve the ‘how’ of ensuring data privacy. Their developer-first approach ensures that data privacy becomes part of the development fabric, instead of an afterthought left for compliance to troubleshoot,” said Mamoon Hamid, partner, Kleiner Perkins.
This is one of Sequoia’s first investments in a European-based company and is the only Ireland-based investment in its current portfolio.
Stephanie Zhan, partner at Sequoia said: “Shane has a special combination of clear vision, deep thoughtfulness and insatiable curiosity. We are thrilled to partner with Evervault at the seed, to solve for today’s massive data breaches and build simple developer tools for data privacy.”