With this month’s strategic investment of $7.2 million from Canada’s Strategic
Innovation Fund, ISARA
Corp., the world’s leading provider of agile quantum-safe security
solutions, reaches another important milestone by securing government
funding that supplements its initial Canadian funding and Series A Round
Silicon Valley venture capital investments – and further demonstrating
the need for robust security in the Quantum Age.
“As quantum computing matures, protecting everything from financial
transactions to the Internet of Things will require deep collaboration
among scientific researchers and private enterprise alongside government
investment,” said ISARA CEO and Co-founder Scott Totzke. “The backing of
visionaries like Mike Lazaridis, savvy investors like Shasta Ventures
and, now, a long-term player like the Government of Canada highlights
the pressing need to develop security solutions now.”
Because quantum computers process information differently than classical
computers, they will be able to break current security measures
relatively easily – putting all digital data at risk and causing
widespread vulnerabilities. ISARA develops agile quantum-safe solutions
that allow OEMs, large organizations and governments to prepare for the
quantum threat and begin protecting data and infrastructure today.
ISARA’s collaboration partners include BlackBerry, Volkswagen Group,
DigiCert, Gemalto and Utimaco.
“Canada’s Waterloo Region is a global leader in quantum research, and
ISARA is leading the way in building viable cybersecurity technologies
to enable what will be a truly transformational shift to quantum
computing,” said Navdeep Bains, Minister of Innovation, Science and
Economic Development. “ISARA demonstrates that the growing quantum
economy can create good jobs outside academia and become a significant
driver of growth.”
The Strategic Innovation Fund is designed to attract and support
high-quality business investments in Canada’s most dynamic and
innovative sectors. ISARA is one of four entities that received
government support on April 18. The onset of large-scale quantum
computing and its effect on cybersecurity necessitates new approaches to
how public key cryptography is used and implemented. The funding will be
used to research and develop foundational cybersecurity technologies to
enable a seamless and cost-effective migration to quantum-safe security.
ISARA is a leader in developing hybrid security that allows both
classical and quantum-safe algorithms to exist on the same certificate.
This allows unprecedented flexibility and gives organizations the
agility they need to adapt as quantum technology advances. The ISARA
Radiate™ Quantum-safe Toolkit combined with ISARA Catalyst™ agile
technologies simplify the process for developers and OEMs to incorporate
cryptographic agility and quantum-safe security in a standards-based
environment.
“ISARA has made tremendous progress since Shasta first invested over six
months ago. The team is exceptional and the company has the only
commercial solution that can be implemented today. The breadth of
financial investment in ISARA is a compelling proof point that
quantum-safe security and agile cryptography are on the cusp of becoming
mainstream topics as governments and corporations confront the long-term
challenge of protecting data,” said Nitin Chopra, Partner at Shasta
Ventures.
Shasta Ventures, based in Silicon Valley, led ISARA’s Series A financing
round with a $10 million investment that built on initial funding from
Lazaridis’ Quantum Valley Investments. QVI funds early-stage companies
seeking to develop commercial applications around quantum technology.
Shasta Ventures funds early-stage enterprise, consumer and emerging
platform companies.
About ISARA Corporation
ISARA Corporation, the world’s leading provider of agile quantum-safe
security solutions, leverages decades of real-world cybersecurity
expertise to protect today’s computing ecosystems in the quantum age.
With our partners, we’re clearing the path to quantum-safe security for
enterprises and governments by delivering practical, standardized
solutions for a seamless migration. Co-founded in 2015 by former
BlackBerry security executives, our team has since launched several
first-of-its-kind solutions such as a quantum-safe cryptographic
library, integration tools for developers, and agile technologies. With
an emphasis on interoperability, we proudly collaborate on international
standards-setting efforts. For more information, visit www.isara.com or
follow @ISARACorp on
Twitter.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190425005694/en/