Enveil had an investor in its latest funding round that kept its participation under wraps in the initial announcement.
The Howard County startup disclosed this week that one of the participants in the $4 million round was the investment firm with ties to the U.S. intelligence community.
In-Q-Tel is a nonprofit investment firm initially created by the CIA, then spun out as an independent entity to help develop technology to keep government intelligence agencies up-to-date with the latest technology. The startup and firm also formed a strategic partnership, and Enveil plans to further develop its platform for use within the federal government.
There’s a bit of a full-circle feel to the announcement, as the startup’s technology was initially developed inside the NSA over many years before Enveil was formed in 2016.
“Enveil’s ability to ensure data and any interactions with it are concealed throughout the entire processing lifecycle has unique relevance and applicability within the U.S. Intelligence Community, and we are proud that this partnership will help further enhance our solution in support of national security,” said Enveil founder Ellison Anne Williams.
The company’s technology keeps data encrypted while users are performing functions like search and analytics. With most encryption, taking the data out of storage or transit for use means opening it up to vulnerabilities.
The company graduated Fulton-based startup studio DataTribe after a year, and recently moved the 10-member team to an office in Maple Lawn.
Additional investors in the round included Thomson Reuters, USAA and Bloomberg Beta.-30-
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