ISARA, a quantum-safe online security platform, has received a $10m investment from Shasta Venture as part of its Series A round.
The company will announce additional investors over the coming weeks, as the company is looking to boost its capabilities via strategic initiatives with Cisco, DigiCert, Gemalto, and Volkswagen AG, among others.
With the new line of funding, ISARA is looking to scale globally as it looks to combat the rising threats posed to quantum computers.
Canada-based ISARA is a cybersecurity platform which designs and builds quantum-safe security solutions. Quantum computers are expected to be able to crack most current encryption standards, which is why ISARA is aiming to implement quantum-resistant encryption.
The company offers clients with technologies which can seamlessly migrate with existing solutions and boost protection levels.
This capital injection follows on from an $11.5m round which was invested by from Quantum Valley Investments in 2015.
ISARA CEO Scott Totzke said, “The global economy and our daily lives are built around a secure online ecosystem that will crumble in the face of a full-scale quantum computer. Ensuring that the many significant benefits of quantum computing can be realized requires a robust set of quantum-safe security and encryption practices that are practical, affordable and agile.
“ISARA is focused on providing solution providers, enterprises and governments with the tools they need to enter the Quantum Age with confidence and optimism.”
Earlier in the year, Shasta Ventures led the $8m funding round of Stealth Security, a company which utilises real-time network analysis, machine learning, threat intelligence and behavioural analytics to detect and mitigate bot attacks.
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