ISARA Corp., the world´s provider of agile quantum-safe security solutions, has announced that Shasta Ventures, a Silicon Valley venture capital firm focused on early stage companies, is a Series A financing round with a USD 10 million USD investment, the company said.
Shasta´s investment builds on ISARA´s initial capital of USD 11.5 million USD from Quantum Valley Investments, founded by BlackBerry creator Mike Lazaridis, to enable ISARA to scale globally to address the looming security threat posed by quantum computers. Additional investors will be announced in the coming weeks as ISARA ramps up its capabilities through strategic initiatives with Cisco, DigiCert, Gemalto, Volkswagen AG and others.
As development of quantum computers accelerates, experts predict that within the next decade a quantum machine will be capable of cracking the current encryption standards that protect an array of connected devices such as, financial systems, power plants, medical devices, deployed military equipment and automobiles. Without quantum-resistant encryption, today´s ubiquitous digital communications could easily be decrypted or spoofed by a quantum computer.
ISARA specializes in creating production-ready quantum-safe security solutions that work in today´s computing ecosystems to enable a seamless, cost-effective and simplified migration from classical to quantum computing.
Shasta´s investment builds on initial financing from Lazaridis´ Quantum Valley Investments, which funds early stage companies seeking to develop commercial applications around quantum technology. Lazaridis, co-founder and former CEO of BlackBerry, has invested heavily in Canada´s quantum research and development capabilities — starting nearly 20 years ago with the founding of the Perimeter Institute for Theoretical Physics and, more recently, the Institute for Quantum Computing at the University of Waterloo.
ISARA is a cybersecurity company specializing in creating production-ready quantum-safe security solutions for today´s computing ecosystems. We provide our partners with agile quantum-safe technologies to enable a seamless, cost-effective and simplified migration of their security solutions. As a commercial solution provider within a rich academic and research ecosystem, ISARA is part of a collaborative effort to raise awareness of quantum threats, and design and implement quantum-safe solutions that will work globally. For more information, visit www.isara.com or follow @ISARACorp on Twitter.
Shasta Ventures is an early stage venture capital firm partnering with bold creative entrepreneurs who are passionate about building epic products and amazing experiences. Founded in 2004, Shasta Ventures has more than USD 1B under management funding companies specializing in enterprise software, consumer technology and emerging platforms including Anaplan, Apptio, Dollar Shave Club, Eero, Mint, Nest, Nextdoor, Smule, Zuora and more. The firm has offices in Menlo Park and San Francisco, California. Find more information, visit www.shastaventures.com.