StockNews.AI
ACN
StockNews.AI
188 days

QuSecure Closes Additional Series A Funding Led by Two Bear Capital with Participation from Accenture

1. QuSecure raised $28M to develop quantum-resistant cybersecurity solutions. 2. The government mandates transition to quantum-safe encryption solutions. 3. QuSecure aims to simplify migration to next-gen cryptographic standards. 4. Quantum computing poses significant risks to traditional encryption methods. 5. QuSecure's clients include U.S. military and financial institutions.

9m saved
Insight
Article

FAQ

Why Bullish?

Increased investments in cybersecurity and quantum-resilient technologies may favorably impact ACN.

How important is it?

The article highlights a growing sector in cybersecurity directly linked to technological resilience, which could increase ACN's opportunities.

Why Long Term?

The ongoing demand for quantum-safe solutions suggests sustained interest in cybersecurity investments, which affects future contracts.

Related Companies

ACNIBMGOOGL
SAN MATEO, Calif.--(BUSINESS WIRE)--QuSecure™, Inc., a leader in post-quantum cryptography (PQC) and next-generation cryptographic agility, today announced the closing of additional funding, bringing its Series A round to $28M to advance its delivery of cutting-edge, crypto-agile, quantum-resistant cybersecurity enterprise software solutions. Two Bear Capital led the round with participation from Accenture Ventures. The investment will support product development, accelerate go-to-market initiatives, and expand QuSecure’s customer base across government, financial, and critical infrastructure sectors. 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 rise of quantum computing represents a seismic shift in the cybersecurity landscape. While quantum computers promise breakthroughs in fields like medicine and materials science, they also pose a significant threat to traditional encryption methods. Current encryption standards, which protect everything from financial transactions to sensitive government communications, can be rendered obsolete by quantum computers capable of breaking them in seconds. This announcement comes on the heels of a January executive order mandating progress on the government-wide migration to a 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 has mandated PQC compliance via the National Security Memorandum “Promoting United States Leadership in Quantum Computing While Mitigating Risks to Vulnerable Cryptographic Systems.” Also, 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. “The requirement to upgrade enterprise technologies to post-quantum cryptographic standards is one of the most significant undertakings facing enterprises this decade,” said Mike Goguen, founder and managing partner of Two Bear Capital. “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.” QuSecure has also named Rebecca Krauthamer as its new CEO to lead the company through its expansion. 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 Artificial Intelligence, and in 2020 was named to the Forbes “30 Under 30” list for her work in quantum computing while leading Quantum Thought, the quantum computing venture studio in Silicon Valley. Ms. Krauthamer was named among the “12 Women Shaping Quantum Computing” and is on the Global Future’s Council for quantum for the World Economic Forum. “The quantum threat isn’t a distant possibility – it’s a reality that organizations need to address today,” said Ms. Krauthamer, co-founder and CEO of QuSecure. “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.” QuSecure 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 pre-existing infrastructure, simplifying the migration to modern cryptographic standards. QuSecure also offers multi-layer, next-generation security to protect enterprise networks against both known and yet to be discovered vulnerabilities in software and network infrastructure. Its flagship product, QuProtect, is the industry's first cryptographic-agility platform that elegantly facilitates the upgrade to PQC and managed cryptographic visibility and orchestration. 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. “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,” said Tom Patterson, emerging technology security lead at Accenture. “We’re investing in trusted providers like QuSecure to help our clients future-proof their global networks today to protect high-risk data faster.” About QuSecure QuSecure is a leader in quantum-safe cybersecurity with a mission to use the advent of quantum computing to act as a catalyst to fix the foundation of data security infrastructure. The QuProtect platform requires no quantum technologies to defend against quantum, AI, and classical threats to encryption. It can be purchased through the AWS Marketplace or direct outreach to QuSecure, Accenture, Dell, Cisco, or Carahsoft. QuSecure is proud to have more successful post-quantum cryptography deployments than any other organization in the world, and the technology is currently deployed with government, banking, telecommunications, and infrastructure customers across the globe. QuSecure’s quantum-resilient and crypto-agile solutions provide an easy transition path to quantum-resiliency anytime, anywhere, on any device, and across any organization. For more information, see www.qusecure.com. About Two Bear Capital Founded in 2019 by Mike Goguen, Two Bear Capital is a venture capital firm investing in brilliant entrepreneurs with breakthrough solutions to complex and critical problems. With its unique approach to venture capital, Two Bear Capital’s vision is to build enduring, high-impact businesses that benefit society while delivering for investors. The firm primarily focuses on early founder-led companies with disruptive life sciences and technology innovations. Two Bear Capital has offices in Menlo Park, San Diego, Boston, and New York, with its home base in Whitefish, Montana. For more information, visit: www.twobearcapital.com.

Related News