Enveil, Ravio, Monspire and Challau Grab Tech Funding in London

A mix of data protection, compensation data & analytics, business cashflow management and a social VR metaverse startup.

London is buzzing as usual with tech firms Enveil, Ravio, Monspire and Challau all getting funding in the capital.

Data protection firm Enveil has closed $25 million (£20 million) in Series B funding to boost its ambitions in enhancing privacy.

Ravio, which provides real-time compensation data and analytics to tech startups, has emerged from stealth with a $10 million (£8 million) seed round led by Northzone with participation from Cherry Ventures and Spark Capital.

Business cashflow management provider Monspire announced on LinkedIn it secured £600,000 in funding.

Also revealed on LinkedIn, social VR metaverse startup Challau has raised £400,000 in pre-seed funding led by 7percent Ventures for building its platform.

Enveil Unveiled

Enveil is headquartered in Maryland with an office in London. The tech company says the oversubscribed round was led by USAA with contributions from existing investors which include Mastercard, Capital One Ventures, C5 Capital, DataTribe, In-Q-Tel, Cyber Mentor Fund, Bloomberg Beta, GC&H and 1843 Capital.

The firm seems to be making progress and has had a 300%+ increase in revenue since closing its Series A funding. Enveil will use the capital to expand sales, product development and marketing activity. The latest funding brings the total amount raised by the company to more than $40 million (£32 million) since its formation in 2016.

According to Enveil, it enables organisations to extract insights, cross-match, search and analyse data assets without revealing the content of the search itself, compromising the security or ownership of the underlying data, or exposing their interests and intent.

Enveil’s existing customer base spans financial services, healthcare and government.

Wad’s Up at Ravio?

Ravio reckons attracting and retaining staff is the number one challenge for fast-growing tech companies. It notes the rise of remote work and the so-called great resignation as factors in this debatable notion.

The tech startup’s core benchmarking product is free and operates on a sharing principle. Companies can anonymously contribute their data with one-click integrations, and in exchange access market benchmarks and compare themselves to similar companies. Ravio’s wider suite of products allows companies to manage and communicate their compensation internally, from running performance review cycles to educating candidates on equity packages and vesting.

Ravio was founded by Roy Blanga and Merten Wulfert, who jointly run the company as co-CEOs, and by Raymond Siems (CPTO), who leads the product and technical team.

Blanga states: “We’ve experienced first hand how hard it is to hire and retain great teams and scale internationally. Getting compensation right from day one is crucial and it only gets harder the larger you become. When we were growing, we couldn’t find any reliable or real-time data to help us determine the right compensation for each person on our team. We lost great people, and missed out on key hires as a result.”

Monspire Cares

Ben Gillen, Co-Founder of Monspire, explains: “Most business owners don’t start their own firm with a desire to spend their time running a finance function. As our study found, it actually distracts them from building their business. With Monspire, we want to give business owners the confidence to grow knowing that their finances are taken care of.”

The fintech company was founded in 2020 and provides organisations a way to understand, forecast and manage business cashflow in real time. Its website doesn’t offer too many details about the process, but allows interested parties to book demos if they want more information.

The other co-founder is Simon Draper. Gillen and Draper’s experience is a mix of business consulting, investment groups, payments companies, et al.

Penthouse Perfection for Challau?

Software development company Propelmee is the firm behind Challau. The latter describes itself as an immersive social platform which offers online social interaction by introducing 3D social meet-ups. Each Challau user creates a 3D avatar (a digital version of yourself) and is the owner of a 3D virtual home with a unique dedicated web address. Virtual homes are interactive and customisable. Hopefully, the song ‘In Every Dream Home A Heartache’ will not be playing.

Challau comments: “We set out to build a metaverse which would be accessible to users around the world – even those with low power smartphones and slow internet connections.”

Along with targeting consumers, the tech startup is looking for action with businesses. For example, users can get together with colleagues in a private penthouse office. Sketch out ideas on whiteboards, showcase their work through 3D screen sharing and “break the monotony of video calls”.

Challau has a lot of stats to share. It has spent four months in public beta; 5,402 virtual worlds have been created by users; 793 offices have been established; and it has had a platform growth rate of 28% week-on-week.

Antony Peyton
Antony Peyton
Antony Peyton is the Editor of eWeek UK. He has 18 years' journalism and writing experience. His career has taken him to China, Japan and the UK - covering tech, fintech and business. Follow on Twitter @TonyFintech.

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