QuSecure, a leader in post-quantum cryptography (PQC) and next-generation cryptographic agility, announced the closing of additional funding, bringing the Series A round to $28 million. The funding will be used to advance QuSecure’s delivery of crypto-agile and quantum-resistant cybersecurity enterprise software solutions. Two Bear Capital led the funding round, with participation from Accenture Ventures.
The funding will support product development, accelerate go-to-market initiatives, and expand QuSecure’s customer base across government, financial, and critical infrastructure sectors. And with the global quantum computing market expected to exceed $125 billion by 2030, QuSecure is a leader in addressing the urgent demand for quantum-resilient cybersecurity solutions.
The surge of quantum computing represents a major shift in the cybersecurity landscape. Even though quantum computers promise breakthroughs in fields like medicine and materials science, they also threaten traditional encryption methods significantly. The current encryption standards, which protect everything from financial transactions to sensitive government communications could be rendered obsolete by quantum computers capable of breaking them in seconds.
This deal comes shortly after a January executive order mandating progress on the government-wide migration to quantum-safe encryption. It is the latest in a string of mandates and legislation moving the U.S. to a quantum-safe future in recognition of the immediacy of the threat to our security infrastructure. For example, The White House mandated PQC compliance via the National Security Memorandum Promoting United States Leadership in Quantum Computing While Mitigating Risks to Vulnerable Cryptographic Systems. Plus, the Endless Frontiers Act established a Technology and Innovation Directorate to use $100 billion in federal funds over five years to research emerging technologies, including quantum computing, and specifically mentions the need for PQC.
QuSecure also recently named Rebecca Krauthamer as its new CEO to lead the company through its expansion. And Krauthamer helped co-found QuSecure, and served as the company’s first VP of Engineering and Chief Product Officer. She studied Symbolic Systems at Stanford University specializing in AI and also worked on quantum computing while leading Quantum Thought, a quantum computing venture studio in Silicon Valley.
QuSecure also ensures that sensitive data remains secure even as quantum computing advances. It provides a patented, software-only security architecture that overlays onto a customer’s preexisting infrastructure, simplifying the migration to modern cryptographic standards. QuSecure also provides multi-layer, next-generation security to protect enterprise networks against known and yet-to-be-discovered vulnerabilities in software and network infrastructure.
The company’s flagship product QuProtect is the industry’s first cryptographic-agility platform that elegantly facilitates the upgrade to PQC and managed cryptographic visibility and orchestration. And QuSecure’s diverse roster of customers includes the United States Army and Air Force, key players in the telecommunications and energy sectors, leading financial institutions, and global cloud services providers.
KEY QUOTES:
“The requirement to upgrade enterprise technologies to post-quantum cryptographic standards is one of the most significant undertakings facing enterprises this decade. QuSecure’s unique ability to facilitate this migration, without disruption to existing technology solutions, positions them as a pivotal player in this endeavor. We’re proud to partner with and support QuSecure during this critical and transformative period of growth and opportunity. This funding round will position QuSecure to transition from an R&D and product development company to a powerhouse focused on large-scale customer acquisition and the broad adoption of the QuProtect platform.”
– Mike Goguen, founder and managing partner of Two Bear Capital
“The quantum threat isn’t a distant possibility – it’s a reality that organizations need to address today. In a progressively digital world, as AI and quantum threats to encryption emerge at an ever-faster pace, it is critical that we evolve from encryption management that requires several years to upgrade algorithms to orchestrated crypto agility for the ability to push a button and upgrade an entire system at once. The ability to orchestrate cryptography at enterprise scale is critical to a robust cybersecurity strategy. The support of Two Bear Capital and Accenture demonstrates a shared vision to provide organizations with a long-term solution to upgrade and manage their encryption standards.”
– Rebecca Krauthamer, co-founder and CEO of QuSecure
“Organizations need a reliable quantum-resilient cybersecurity solution that not only adheres to the National Institute of Standards and Technology’s (NIST) post-quantum encryption standards, but can be easily integrated across all parts of a communications network. We’re investing in trusted providers like QuSecure to help our clients future-proof their global networks today to protect high-risk data faster.”
– Tom Patterson, emerging technology security lead at Accenture
