en.Wedoany.com Reported - QIZ Security, a cryptographic posture and post-quantum cryptography (PQC) management platform, announced the completion of a $17 million seed funding round. The round was led by Bessemer Venture Partners and Merlin Ventures, with participation from Evolution Equity Partners, Qbeat Ventures, Singtel Innov8, and Qino Cyber Capital.
The funds will be used to accelerate QIZ's product development and market expansion. Enterprises are currently facing the challenge of migrating from existing vulnerable cryptographic infrastructure to quantum-safe systems, considered one of the most significant cybersecurity transformations in a decade. Quantum computing is reshaping the encryption risk models that protect financial systems, communications, digital identities, cloud infrastructure, supply chains, and critical national infrastructure. Google, IBM, Palo Alto Networks, and Gartner have warned that quantum computers could threaten current encryption systems as early as 2029, a milestone known as Q-Day. Given the lengthy migration timelines required for enterprises, organizations must understand the types of cryptography they use, where it is deployed, who owns it, the business systems it supports, and the priority for remediation. Sensitive data collected today could be decrypted by 2029, and migrating complex cryptographic environments may take years.
The QIZ platform is designed to provide continuous cryptographic posture and PQC management. It enables organizations to instantly discover cryptographic assets, model risks, and enforce remediation in complex enterprise environments to achieve full cryptographic agility and accelerate the transition to quantum-safe systems. QIZ is built as an end-to-end operational layer for enterprise cryptographic management across hybrid and complex environments.
QIZ was founded by industry veterans Ben Volkow, Lenny Ridel, and Dr. Itan Barmes. Barmes previously led Deloitte's global quantum network readiness team, advising large organizations on quantum-safe readiness and strategy development. Ben Volkow, co-founder and CEO of QIZ, stated that post-quantum readiness has become a board-level cybersecurity and business priority, and that enterprises cannot manage what they cannot see; QIZ provides the continuous control layer organizations need. Amit Karp, partner at Bessemer Venture Partners, believes QIZ is addressing one of the most important and under-resolved cybersecurity issues of the next decade. Seth Spergel, managing partner at Merlin Ventures, noted that federal agencies and large enterprises need a practical path to cryptographic agility. Dorit Dor, co-founder of Qbeat Ventures, said QIZ's technical expertise, market demand, and execution focus position it as a leader in the emerging PQC management category.
To date, QIZ has gained customer traction in the financial services, telecommunications, healthcare, and critical infrastructure sectors, and is collaborating with several global brands. The company has established a strategic partner ecosystem, including Cisco, Amazon Web Services (AWS), Google, CrowdStrike, Deloitte, Ernst & Young (EY), and IBM, aimed at helping customers accelerate cryptographic discovery, risk assessment, governance, and post-quantum migration planning. This funding round comes amid increasing regulatory pressure around cryptographic modernization, with frameworks such as CNSA 2.0, NIST PQC, DORA, NIS2, PCI DSS, and industry-specific requirements driving organizations to assess cryptographic exposure and build migration roadmaps. Dr. Itan Barmes, co-founder and Chief Strategy Officer of QIZ Security, noted that cryptography is ubiquitous in organizations yet lacks centralized governance, and the post-quantum transition is forcing enterprises to confront this reality; QIZ's mission is to provide organizations with the platform and operational path to achieve cryptographic agility.
