What Eval does

Eval is a Brazilian information security company founded in 2004 and headquartered in São Paulo, with a secondary office in Santos. The company specializes in electronic signatures, digital certification under the ICP-Brasil framework, cryptographic key management, and increasingly AI-powered security operations. Its product portfolio spans multiple layers: an electronic signature API gateway (CryptoCubo), industry-specific signing solutions for PIX instant payments (CryptoPIX), financial messaging (CryptoSFN), and check compensation (CryptoCOMPE); hardware security modules (Thales Luna HSM, payShield 10K, ProtectServer); data security (CipherTrust platform and Secrets Management, Data Protection on Demand); certificate lifecycle management (Keyfactor Command); application security (Imperva WAAP); and network encryption (High Speed Encryptors). In 2024, Eval launched the evalmind generative AI platform, extending into healthcare (evalmind care for automated patient anamnesis) and SOC automation (evalmind shield agentic security platform).

The company operates primarily in four verticals — financial services (5 of the 10 largest Brazilian banks as customers), healthcare (300+ institutions), education, and industry — with notable enterprise customers including BRF, Comgás, Unimed Sorocaba, UHG Brasil, and Hospital de Olhos de São Paulo. Eval holds substantial regulatory credentials: SBIS homologations (in 2009, 2017, 2019, 2022), ITI approval for its signing solution (2015), FIPS 140-2 Level 3 hardware certifications, PCI DSS compliance, and CMMI Level 3 process maturity (2013).

Revenue is generated through five distinct streams: software/SaaS subscriptions, professional services for Thales deployments, hardware resale of HSMs, managed security services (including cloud HSM offerings), and licensing/royalties from authorized reseller relationships with Thales, Keyfactor, and Imperva. Go-to-market combines direct enterprise field sales targeting C-level and IT decision-makers with channel partnership distribution for hardware and licensed products. Pricing is opaque and quote-based, reflecting custom enterprise deployments. Eval remains privately held with no disclosed funding rounds and operates exclusively in Brazil.

Name

Eval

Legal name

EVAL TECNOLOGIA EM INFORMÁTICA LTDA

Website

https://eval.digital

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

51–100 employees

Short description

Eval is a Brazilian information security company providing electronic signature, digital certification, cryptographic key management, and AI-powered security platform solutions to financial, healthcare, education, and industrial enterprises in Brazil.

Ownership category

akta.pro rank

Product category

Enterprise Information Security

NAICS

Security Systems Services (except Locksmiths) (561621), Custom Computer Programming Services (541511)

SIC

Services-Computer Programming, Data Processing, Etc. (7370), Services-Computer Programming Services (7371)

akta.pro primary industry

Digital Asset Custody & Key Management (MPC, HSM, Wallet Infra) (FSAGAMAB)

akta.pro secondary industries

MPC / HSM / Key Management Infrastructure (FSADACAC), POS Security, Encryption & Key Management (P2PE, HSM, Key Injection) (FSAMADAK)

Keywords

• Electronic signature solutions
• Digital certificates
• Hardware security modules
• Data protection platforms
• Certificate lifecycle management

Headquarters

HQ city

São Paulo

HQ country

Brazil

HQ region

Latin America

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Supply Chain, Infrastructure

Revenue model

1. Software/SaaS Subscriptions: Subscription-based access to electronic signature platforms (CryptoCubo), AI security platforms (evalmind), and cloud-based security services (Data Protection on Demand). Revenue derived from recurring platform access fees.
2. Professional Services: Implementation, consulting, and technical support services for Thales security solutions. Includes project scoping, deployment, FIPS 140-2 L2/L3 certified implementation, and ongoing technical support.
3. Hardware Sales (HSM): Resale of Thales hardware security modules (Luna HSM, payShield 10K, ProtectServer) and related accessories. Hardware provides cryptographic key protection for payments, PKI, and general enterprise security.
4. Managed Services: Managed security services including Data Protection on Demand cloud HSM, CipherTrust cloud key management, and ongoing monitoring services.
5. Licensing Royalties: Revenue from licensed technology partnerships including Thales, Keyfactor, and Imperva solutions. Eval operates as authorized reseller and implementation partner generating licensing fees.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels7 records

Core offering

Eval provides electronic signature, digital certification, and data protection solutions for the Brazilian financial, healthcare, education, and industrial sectors. The portfolio combines proprietary software platforms (CryptoCubo API for signatures, evalmind generative AI, evalmind shield agentic SOC automation), Thales-based hardware security modules (Luna HSM, PayShield 10K, ProtectServer), CipherTrust data security, Keyfactor certificate lifecycle management, and Imperva WAAP, supported by certified professional services for FIPS 140-2 Level 3 and PCI DSS deployments.

Product overview

Eval is a Brazilian information security company specializing in electronic signature, digital certification, authentication, and data protection solutions. The portfolio operates as a modular platform approach combining signature services (CryptoCubo, CryptoPIX, CryptoSFN, CryptoCompe, Eval Sign), hardware security modules (PayShield 10K, Thales Luna HSM, ProtectServer HSM), data security (CipherTrust Platform, CipherTrust Secrets Management, Data Protection on Demand), certificate management (Keyfactor Command), application security (Imperva WAAP), network encryption (High Speed Encryptors), customer identity (CIAM), and AI-powered solutions (evalmind platform with evalmind care for healthcare and evalmind shield for SOC automation). Eval serves financial, healthcare, education, and industrial sectors across Brazil's largest institutions.

Differentiator

Problem solved

Functional benefit

Brands

• evalmind: AI Generative platform for enterprise efficiency and security.
• evalmind care
• evalmind shield
• CryptoCubo
• CryptoPIX
• CryptoSFN
• CryptoCOMPE

Products and services

• evalmind (Generative AI Platform) Enterprise generative AI platform designed to enhance operational efficiency and security, including healthcare (evalmind care) and SOC automation (evalmind shield) modules.
• CryptoCubo API gateway solution for electronic signature, enabling easy integration with business systems, ICP-Brasil digital certificate management, batch processing, and evidence reporting for legal compliance.
• CryptoPIX Digital signature platform for PIX instant payment transactions, ensuring integrity and compliance with Central Bank (Bacen) specifications, natively integrated with Thales Luna HSM. Performance rated at 400 digital signature operations per second.
• CryptoSFN Complete encryption platform for securing RSFN and RTM financial messaging networks in compliance with BACEN GT-Security standards.
• CryptoCompe Image signature solution for bank check compensation processing, developed per FEBRABAN technical requirements for high-performance batch processing.
• PayShield 10K Thales hardware security module (HSM) for payment transaction security, used globally for credential issuance, user authentication, and sensitive data protection. Processes approximately 80% of global payment transactions and is PCI HSM v3 certified.
• Thales Luna HSM Hardware Security Module for cryptographic key protection, secure information processing, and digital authentication. Available in Network, PCIe, and USB form factors with FIPS 140-2 Level 3 certification and integration with 400+ PKI applications.
• ProtectServer HSM Flexible HSM solution allowing custom firmware development within secure hardware boundaries. Provides cryptographic, digital signature, and authentication services with FIPS 140-2 Level 3 validation.
• CipherTrust Data Security Platform Integrated data protection platform offering data discovery, classification, encryption, tokenization, dynamic masking, and centralized key management for LGPD and GDPR compliance.
• Data Protection on Demand Cloud-based key management and HSM services enabling data protection without hardware procurement. Offers on-demand security services with integration via PKCS11 interface.
• Keyfactor Command Digital certificate lifecycle management platform providing visibility and control over PKI and certificates. Supports private, public, and cloud-based CAs with automated renewal and provisioning.
• Imperva WAAP Web Application and API Protection solution combining WAF, bot protection, DDoS mitigation, and API security. Protects against SQL injection, XSS, LFI, automated attacks, and fraud, with PCI DSS certification.
• High Speed Encryptors Network data encryption solutions for protecting data in transit between data centers, offices, and cloud environments. Supports speeds from 10 Mbps to 100 Gbps with FIPS 140-2 Level 3, Common Criteria, NATO, and UC APL certifications.
• CIAM (Thales OneWelcome) Cloud-based Customer Identity and Access Management platform providing multi-factor authentication, identity orchestration, consent management, and customer experience optimization.
• Eval Sign Electronic contract signature solution, enabling digital signing of contracts with legal validity under Brazil's ICP-Brasil infrastructure. Approved by ITI (Instituto Nacional de Tecnologia da Informação) in 2015.
• Digital Diploma Digital signature solution for issuing and managing digital academic diplomas for educational institutions, providing legally valid electronic issuance at scale.
• Professional Services Implementation, support, and consulting services for encryption solutions including FIPS 140-2 Level 2/3 certified deployments delivered by certified Thales professionals.

Quantifiable outcome

• 72% reduction in document approval cycle time (25 days to 7 days) for BRF
• +4 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration13 records

AI capability8 records

Feature7 records

Partnerships

Six partnerships are on record, tiered core and minor.

• KeyfactorcoreStrategic or Co-development Partner · 1 January 2021Strategic partnership since 2021 combining Eval's 18+ years of information security expertise in Brazil with Keyfactor's advanced certificate and cryptography management platform. Eval serves as Brazilian channel partner for Keyfactor Command, providing PKI visibility, automation, and governance solutions.
• ThalescoreTechnology or IntegrationMaster technology partnership for Thales security products including Luna HSM, payShield 10K, ProtectServer, CipherTrust, Data Protection on Demand, and High Speed Encryptors. Eval holds multiple Thales certifications (Pre-sales Technical, Sales, Technical Professional, FIPS 140-2 Level 3, PCI HSM v3) and serves as primary Brazilian distributor and implementation partner for Thales security solutions.
• ImpervacoreTechnology or IntegrationPartnership for Imperva WAAP (Web Application and API Protection) solutions providing comprehensive security including WAF, DDoS protection, BOT protection, and API security. Eval distributes and implements Imperva solutions in the Brazilian market.
• Instituto SonheminorOthersSocial responsibility partnership with Instituto Sonhe, a 14-year-old NGO dedicated to transforming the dreams of children and adolescents in São Paulo's Cracolândia region. Focus on education, citizenship, and human rights protection for youth.
• ABAPE (Associação Batista da Penha)minorOthersPartnership with ABAPE for professional training incentive programs in Tiquatira region communities, including tutoring scholarships in IT and mentorship programs connecting interested candidates with Eval employees for career development.
• EcoFaxina InstituteminorOthersEnvironmental partnership where Eval makes financial contributions proportional to new e-signature customers, and organizes employee beach and mangrove cleanup activities in the Santos region.

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Thales: Global vendor of Luna HSM, payShield 10K, ProtectServer, and CipherTrust — the same product families Eval distributes in Brazil. As Eval's master technology partner, Thales is also a potential competitive threat if it scales direct Brazil presence.
• DocuSign: Global e-signature leader expanding into Brazil with eSignature and CLM products, competing with Eval Sign and CryptoCubo for large enterprise deals.
• Adobe Sign: Adobe's e-signature product within Acrobat / Document Cloud, serving enterprise contracts workflows globally and in Brazil — overlaps directly with Eval's contract signature use case.
• Serasa Experian: Major Brazilian credit bureau and identity services provider offering digital identity verification and electronic signature products adjacent to Eval's regulated-vertical signature and authentication solutions.

Direct peers

• Clicksign: Brazilian electronic signature platform competing directly with Eval's CryptoCubo and Eval Sign in digital contract signing for SMB and enterprise customers in Brazil.
• ZapSign: Brazilian electronic signature and digital documentation provider with API-first distribution, overlapping with Eval's CryptoCubo target market of software vendors and integrators.
• Certisign: Brazilian digital certification authority issuing ICP-Brasil certificates and e-signature solutions, directly competing with Eval's digital certification and electronic signature offerings.
• Valid Certificadora: Brazilian digital identification and certification company offering ICP-Brasil certificates, e-signature, and secure document solutions — overlaps with Eval's healthcare, financial, and education vertical signature offerings.
• Soluti: Brazilian digital certification and electronic signature provider offering ICP-Brasil certificates, biometric identification, and electronic document solutions across regulated industries.
• BRy Tecnologia: Brazilian technology company specializing in digital signature, digital certification, and timestamping solutions under ICP-Brasil, competing in the same regulatory and enterprise signature space as Eval.

Market position

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@evaldigital
• Facebookfacebook.com/eval.digital
• LinkedInlinkedin.com/company/evaldigital
• Instagraminstagram.com/eval.digital
• Xx.com/Evaldigital

Compliance11 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

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 Eval