On May 21, 2020, Dublin-based start-up Evervault raised $16 million in venture capital to develop technology the company claims will recalibrate the traditional tradeoffs between privacy and regulation. Index Ventures led the round, which includes previous investors Sequoia Capital, Kleiner Perkins, and Frontline Ventures. In addition, the fundraising attracted money from a string of notable angel investors, such as Eventbrite cofounder Kevin Hartz and former Facebook chief security officer Alex Stamos. Wilson Sonsini Goodrich & Rosati represented Evervault in the transaction.

The funding is notable because Evervault has not yet developed a product that’s ready for customers. Instead, investors are betting on a concept that promises to effectively eliminate the need for privacy regulations, a shift that would save businesses money on compliance while delivering greater data protection for consumers.

Evervault plans to offer this service as an API, with the aim of allowing developers to seamlessly build it into the software stack of whatever they are creating. 

The Wilson Sonsini team that represented Evervault in the transaction includes Stacy Kim, Daniel Glazer, Jose Campos, Abi Riddle, Stephen Heifetz, Melissa Mannino, Nathaniel Siegel, and Annie Schroyer.

For more information, please see a Venture Beat article covering the funding.