What is PreVeil?
PreVeil addresses the critical need for secure business communication and data storage by offering end-to-end encryption that integrates seamlessly with everyday tools like Outlook, Gmail, and Dropbox. Unlike traditional security approaches that focus on perimeter defense, PreVeil's technology ensures that only intended recipients can access sensitive information, not even PreVeil itself. This fundamental security paradigm is designed to serve businesses of all sizes, from small teams to large enterprises, aiming to prevent data breaches through a fundamentally different approach to data protection.
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 Equity
Key Investors in PreVeil
Presidio Ventures
Presidio Ventures, the early-stage investment arm of Sumitomo Corporation, focuses on promising growth industries and has a history of investing in over 160 U.S. startups, assisting them in expanding into Japanese and Asian markets.
PSG Equity
PSG Equity, formerly Providence Strategic Growth Capital Partners, specializes in private equity and strategic growth investments within the media, communications, education, and information sectors.
PPP
Public-Private Partnership
What's next for PreVeil?
With its latest major strategic investment, PreVeil is poised to further enhance its encryption technology and expand its market reach. The substantial enterprise-level funding suggests a strategic focus on scaling operations, potentially through increased sales and marketing efforts, and further product development to solidify its position in the competitive cybersecurity landscape. This capital injection will likely enable PreVeil to capture a larger share of the market demanding advanced, user-friendly encryption solutions.
See full PreVeil company page
