QIZ Security Ltd. raises $17M in Seed

QIZ Security Ltd., a cybersecurity startup focused on post-quantum readiness, has secured $17 million in seed funding. The round was led by Bessemer Venture Partners and Merlin Ventures with participation from Evolution Equity Partners, Qbeat Ventures, Singtel Innov8 Pte. Ltd., and Qino Cyber Capital Ltd. The funding aims to enhance its platform, which helps enterprises identify and manage cryptographic assets in preparation for the advent of quantum computing.

Founded in 2025, QIZ Security offers a unique platform that integrates with enterprise systems via application programming interfaces (APIs), circumventing the need for traditional agents or network probes. The platform generates an inventory of cryptographic assets across both on-premises and cloud environments, linking each asset to the business processes and applications utilizing them. It flags vulnerabilities such as outdated protocols, weak cipher suites, and unencrypted data, which it prioritizes for security teams to address based on severity and business impact.

The reasons for urgency are highlighted by executive directives mandating federal agencies to transition high-value assets to post-quantum key establishment by 2030, and post-quantum digital signatures by 2031. These timelines accelerate previous targets due to increasing concerns that encrypted information might already be harvested for future decryption as quantum technology matures. CEO Ben Volkow underscores that preparedness for post-quantum threats has moved to a board-level focus, as enterprises cannot transition assets they fail to identify.

QIZ Security's offering has drawn interest from sectors like financial services, telecommunications, and healthcare, as well as from critical infrastructure providers. The startup is also building strategic partnerships with major technology firms such as Cisco, AWS, Google, and IBM to support discovery and migration initiatives. Co-founder and Chief Strategy Officer, Itan Barmes, formerly of Deloitte's quantum cyber readiness team, brings substantial expertise to the company's mission. Meanwhile, Merlin’s Seth Spergel emphasized the necessity for regulated industries to achieve crypto-agility rather than merely acknowledging future threats.

Looking ahead, QIZ Security will likely focus on expanding its market footprint and solidifying its presence as a leader in post-quantum cryptography management. As the industry braces for the disruptive potential of quantum computing, the company stands to benefit from increased awareness and regulatory pressures, while its progress may indicate a shift in standard cryptographic practices within major organizations.