9 years ago

Post-Quantum Raises $10.3 Million Series A for Quantum-Resistant Encryption

  • Post-Quantum, a UK-based cybersecurity startup founded in 2009, has secured an $10.3 million Series A funding round led by VMS Investment Group and AM Partners

  • The company has been developing a post-quantum encryption system based on the McEliece cryptosystem, designed to be resistant to cracking by quantum computers

  • Despite the complexity of their technology, PQ has faced challenges in convincing investors due to the lack of widespread adoption of post-quantum encryption

  • However, their focus on providing a suite of security products that address immediate pain points for customers, such as compliance requirements, has proven more successful

  • These products include a secure messaging app, key-splitting technology, and biometric authentication technology

  • The funding will help the company expand its product offerings and accelerate its market penetration.

      • ProblemTechnology

      "Current encryption methods are vulnerable to attacks from quantum computers, which are expected to become powerful enough to crack them in the future. This makes it difficult for businesses to secure sensitive data and comply with regulations."

      Solution

      "PQ offers a suite of security products that are designed to be resistant to quantum computers, providing a higher level of protection for sensitive data. This includes secure messaging, key-splitting, and biometric authentication technologies."

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