What Vaultree does

Vaultree is an Irish cryptography company founded in 2020 and headquartered in Cork that sells Data-In-Use Encryption — a class of encryption which keeps data encrypted throughout its entire lifecycle, including during computation, rather than only at rest and in transit. Its platform, VEDS (Vaultree Encrypted Data Suite), is structured around three modules — Search, Storage & Sharing, and Analytics — and is powered by two proprietary primitives: Next-Generation Fully Homomorphic Encryption (NG-FHE), a published FHE scheme that operates on commodity hardware without special-purpose accelerators, and Enhanced Searchable Symmetric Encryption (ESSE). In 2024 the company extended the platform with VENum, an open-source stack comprising VENumpy (an internal FHE library) and VENumML (a Python library for encrypted machine learning), and demonstrated what it describes as the world's first scalable encrypted transformer performing 4-10 billion vectorized FHE operations per minute on a standard MacBook Pro M1.

Vaultree's product surface is anchored by more than 20 filed patents, ISO 27001 and SOC 2 certifications, and integrations with Google Cloud (BigQuery, AlloyDB, CloudSQL), Tableau, and Qrypt, allowing customers to consume the technology inside existing cloud data warehouses, BI tools, and quantum-secure key management flows. The customer base is concentrated in two primary verticals — healthcare (HIPAA-regulated patient data, genomic and clinical-trial workloads) and financial services (FINMA-regulated fraud detection and secure analytics) — and is delivered through an enterprise field-sales motion supplemented by a Design Partner Program that lets customers co-define integrations.

The business model is enterprise subscription / Encryption-as-a-Service licensing of VEDS and the underlying NG-FHE and ESSE technologies, monetized either directly to enterprise customers or via technology integrations with hyperscalers and BI vendors. As of the most recent disclosures the company has raised approximately $20M across a $3.3M seed round (Nov 2021, led by Ten Eleven Ventures with Enterprise Ireland) and a $12.8M Series A (Dec 2022, co-led by Molten Ventures and Ten Eleven Ventures with SentinelOne and others), supplemented by non-dilutive capital from the European Innovation Council's Disruptive Tech Fund and Accelerator Grant, and Intel Ignite. The company employs roughly 23 people, operates on four continents, and is led by CEO David Currie (former CISO of Nubank and Klarna), with co-founders Tilo Weigandt (COO) and Ryan Lasmaili (CSO) remaining active.

Name

Vaultree

Legal name

Vaultree Ltd.

Website

https://vaultree.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

Vaultree is an Irish cryptography company that sells Data-In-Use Encryption — keeping data encrypted even during computation — through its VEDS platform and open-source VENum ML stack, targeting enterprise healthcare and financial-services buyers via subscriptions and cloud-vendor integrations.

Ownership category

akta.pro rank

Product category

Data Security and Encryption Software

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (5182), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518210)

SIC

Services-Computer Processing & Data Preparation (7374)

akta.pro primary industry

Encryption (Data-at-Rest / In-Transit / In-Use) (HDADAFAB)

akta.pro secondary industries

Key Management, Encryption & Secrets Management (KMS/HSM/Vault) (HDABAHAG), Backup, Archiving & Ransomware-Resilient Data Protection (HDADAFAL)

Keywords

• Data encryption software
• Homomorphic encryption
• Encrypted data analytics
• Data security platform
• Encryption as a service

Headquarters

HQ city

Cork

HQ country

Ireland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Others

Revenue model

1. Encryption-as-a-Service: Vaultree provides Encryption-as-a-Service through its advanced data security platform. The company generates revenue from licensing its encryption technology, providing enterprise customers with Data-In-Use Encryption capabilities. Revenue is likely derived from subscription-based contracts with enterprise customers for access to VEDS and FHE technology.
2. Technology Licensing: Vaultree licenses its proprietary encryption technologies including NG-FHE and ESSE to enterprise customers, with upcoming BigQuery integration allowing customers to utilize encryption breakthroughs directly within Google Cloud's data warehouse.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Vaultree provides a Data-In-Use Encryption platform (VEDS - Vaultree Encrypted Data Suite) that enables enterprises to search, share, store, and analyse sensitive data while it remains fully encrypted throughout its entire lifecycle. The platform is powered by proprietary Next-Generation Fully Homomorphic Encryption (NG-FHE) and Enhanced Searchable Symmetric Encryption (ESSE) technologies, allowing real-time operations on persistently encrypted data without decryption.

Product overview

Vaultree offers a unified Data-In-Use Encryption platform built around VEDS (Vaultree Encrypted Data Suite), which consists of three integrated modules: VEDS for Search (encrypted search operations), VEDS for Storage & Sharing (encrypted data storage and collaboration), and VEDS for Analytics (encrypted analytics and AI/ML). The platform is powered by proprietary Next-Generation Fully Homomorphic Encryption (NG-FHE) and Enhanced Searchable Symmetric Encryption (ESSE) technologies. Additional offerings include VENum Stack—an open-source technology comprising VENumpy and VENumML—designed for encrypted machine learning operations. Vaultree positions itself as an Encryption-as-a-Service provider, with solutions addressing data security at rest, in transit, and crucially in use.

Differentiator

Problem solved

Functional benefit

Brands

• VEDS: Vaultree Encrypted Data Suite - enabling encrypted search, storage, sharing, and analytics on persistently encrypted data
• VENum
• VENumML
• VENumpy

Products and services

• VEDS (Vaultree Encrypted Data Suite) A comprehensive data security platform providing Data-In-Use encryption that enables organisations to search, share, store, and analyse encrypted data in real-time without decryption, ensuring data remains protected throughout its entire lifecycle. Targeted at enterprise customers in healthcare, financial services, and other highly regulated industries.
• VEDS for Search Enables advanced encrypted search operations over persistently encrypted data, allowing organisations to search encrypted data with precision without exposing plaintext. For enterprise customers handling sensitive data.
• VEDS for Storage & Sharing Keeps sensitive data secure when storing or sharing, enabling organisations to store and share encrypted data with cryptographic access control ensuring only authorized parties can access information.
• VEDS for Analytics Enables deployment and training of analytical models whilst staying secure and compliant. Allows organisations to perform analytics and AI/ML on encrypted data without exposing sensitive information.
• VENum Stack (Vaultree Encrypted Numbers) An open-source technology stack designed to address scalability challenges of existing Fully Homomorphic Encryption (FHE) schemes, enabling secure and scalable machine learning operations on encrypted data.
• Encryption-as-a-Service Vaultree's core service offering providing advanced data security through encryption technology including ESSE (Enhanced Searchable Symmetric Encryption) and FHE (Fully Homomorphic Encryption) for highly regulated organisations.

Quantifiable outcome

• Process billions of encrypted records in real-time and at scale
• +3 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability5 records

Feature5 records

Partnerships

Three partnerships are on record, tiered core and supporting.

• Google (BigQuery, AlloyDB, CloudSQL)coreTechnology or Integration · 7 December 2022Partnership with Google Cloud for integration with BigQuery, AlloyDB, and CloudSQL. The BigQuery integration will allow enterprise customers to perform encrypted operations on large-scale datasets without compromising security or performance. The AlloyDB partnership enables enterprise customers to benefit from Vaultree's Data-In-Use Encryption with Google Cloud's fully managed PostgreSQL-compatible database service. CloudSQL integration provides unparalleled level of data security and innovation in the cloud.
• TableaucoreTechnology or IntegrationIntegration with Tableau allows enterprises to securely analyze and visualize fully encrypted data in real-time and at scale, marking a monumental advancement in the industry.
• QryptsupportingTechnology or IntegrationIntegration with Qrypt offers customers streamlined quantum secure key management solutions, enabling customers to enhance the security of their sensitive data without complexity.

Scale indicators7 records

Recent moves1 record

Direct peers

• Zama: Zama builds open-source FHE tooling (Concrete, TFHE-rs, fhEVM) for developers, with comparable focus on making homomorphic encryption practical. Both companies target the same developer and enterprise customer base with overlapping fully homomorphic encryption capabilities.
• Duality Technologies: Duality Technologies offers a homomorphic encryption platform (OpenFHE-based) for secure data collaboration, analytics, and AI on encrypted data — directly mirroring Vaultree's data-in-use encryption value proposition for regulated enterprises.
• Enveil: Enveil uses FHE to enable secure search, analytics, and ML on encrypted data. Its ZeroReveal product line competes head-to-head with Vaultree's VEDS for Search and Analytics offerings.
• Inpher: Inpher provides a privacy-preserving computation platform based on secret computing and homomorphic encryption for secure analytics and ML. Direct competitor in the encrypted data processing and analytics space.
• TripleBlind: TripleBlind offers privacy-preserving ML and analytics with cryptographic techniques including FHE, targeting regulated industries like healthcare and financial services — overlapping customer base and use cases with Vaultree.

Emerging players

• Cosmian: Cosmian provides FHE-based encrypted computation, search, and analytics tools. Emerging European player with overlapping technology stack and customer base.
• Skyflow: Skyflow provides a data privacy vault with encryption and tokenization APIs for PII, PHI, and payment data, targeting healthcare and financial services — overlapping customer segments with Vaultree but with a vault/tokenization approach rather than FHE.

Broad incumbents

• IBM (Homomorphic Encryption services): IBM offers enterprise-grade homomorphic encryption services and tooling through its research division and cloud platform, targeting similar regulated-industry customers with broader portfolio offerings.
• Microsoft (SEAL / Azure Confidential Computing): Microsoft maintains the open-source Microsoft SEAL FHE library and offers confidential computing on Azure. A broad incumbent with overlapping primitives but a different delivery model.
• Google (BigQuery encryption / FHE transpiler): Google Cloud is both a partner (BigQuery/AlloyDB/CloudSQL integrations) and a potential competitor developing native FHE tooling on Google Cloud, making it a critical peer/partner combination for Vaultree.

Market position

Strengths5 records

Weaknesses5 records

Key risks6 records

Key highlights7 records

Customer concentration

• GitHubgithub.com/Vaultree
• LinkedInlinkedin.com/company/vaultree

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds5 records

Investors12 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vaultree