PQ develops a modular suite of security products layered around a post-quantum encryption architecture, including secure messaging with compliant archiving, quorum-based key-splitting consensus approval, biometric authentication, a blockchain event log enabler and its post-quantum encryption. Customers can cherry-pick modules; not all modules are built on its core post-quantum algorithm but the company says all are architected to be resistant to future quantum attacks. PQ holds around 20 patents granted and pending and works with independent crypto experts, including professor Fred Piper of Royal Holloway College, to validate its cryptography. The company has three customers today — one banking customer, one government customer and a major global provider of trading-floor technology — and is focused on expanding that base. Its commercial model is licensing architecture/modules (compared to ARM) with select API-as-a-service implementations, and it does not plan to pursue direct consumer (B2C) sales. Most of the new funding will be used to hire business-development staff to convert inbound enquiries into customers.

Total raised

$10M

Funding rounds

1

Latest round

Series A

Latest activity

Jul 2016