What is PreVeil?
PreVeil provides a user-friendly end-to-end encryption solution designed for seamless integration into daily business operations. Its encrypted email service functions with popular email clients like Outlook and Gmail, utilizing existing email addresses. PreVeil Drive offers a secure alternative to cloud storage services such as Dropbox, ensuring that all transmitted messages and stored documents are protected from unauthorized access, including PreVeil itself. The company caters to a broad spectrum of clients, from small teams to large enterprises, aiming to revolutionize security in business communication and information management by moving beyond traditional perimeter-based security models.
How much funding has PreVeil raised?
PreVeil has raised a total of $27.4M across 3 funding rounds:
Series B
$7M
Debt
$350K
Series C
$20M
Series B (2019): $7M with participation from Presidio Ventures
Debt (2020): $350K led by PPP
Series C (2022): $20M supported by Psg
Key Investors in PreVeil
Psg
Providence Strategic Growth Capital Partners L.L.C. is a private equity firm established in 2014, focusing on investments in the media, communications, education, and information industries. They specialize in providing strategic growth capital to companies within these sectors.
Presidio Ventures
Presidio Ventures, founded in 1998, is the early-stage investment arm of Sumitomo Corporation. They actively seek promising growth industries and partner with leading startups, having invested in over 160 U.S. companies and assisting them in expanding into Japanese and Asian markets.
PPP
Public-Private Partnership
What's next for PreVeil?
With its recent major strategic investment and substantial overall capital, PreVeil is poised for significant expansion. The company's focus on a fundamentally different security paradigm, based on end-to-end encryption, positions it well to address the increasing demand for robust data protection. Future developments are likely to involve enhancing its product suite, expanding its enterprise client base, and potentially exploring new market verticals that require stringent data privacy and security measures. The company's commitment to making advanced encryption accessible for everyday business use suggests a continued emphasis on user experience and seamless integration.
See full PreVeil company page
