Alphabet spinoff SandboxAQ acquires cybersecurity and encryption startup Cryptosense

Artificial intelligence and quantum computing solutions company SandboxAQ, spun off from Alphabet Inc. as an independent company in March, today announced that it has acquired cybersecurity and encryption analysis software company Cryptosense SA for an undisclosed price.

Founded in 2013, Cryptosense offers cryptography management software designed to protect sensitive data against data breaches. Pitched as cryptography management at the speed of DevOps, the Cryptosense platform provides full visibility into cryptography during development and a full inventory in production.

Cryptosense’s service resolves compliance issues before release, including finding and remediating dangerous vulnerabilities. The solution integrates into continuous integration/continuous delivery and supports software, hardware and cloud cryptography services to make best practice cryptography fast, easy and accessible to developers.

The company’s Analyzer Platform analyzes applications to assess how they are using cryptography, from encrypting data at rest or in transit to signing and verifying code. The technology builds a full cartography of all cryptographic objects and how they are used, from application cryptography to keys and certificates and from cloud cryptography services to secure hardware.

Cryptosense services some of the largest technology and financial services companies. The company handles 70% of all interbank messages, the European Union backend of the world’s largest automatic teller machine provider and 45% of all U.S. credit card transactions.

SandboxAQ’s acquisition of Cryptosense will complement and accelerate the deployment of SandboxAQ’s Post-Quantum Cryptography solutions to corporations and government institutions worldwide.  The combined customer relationships are said to assist SandboxAQ in bringing its PQC solutions to market faster and protect these organizations and their customers from existing and emerging quantum threats, such as Store Now and Decrypt Later attacks.

“Rapid advances in quantum computing and AI challenge the effectiveness and performance of existing cryptography-based cybersecurity solutions,” Jack D. Hidary, chief executive of SandboxAQ, said in a statement. “The combined leadership, talent, and expertise that SandboxAQ and Cryptosense bring to the marketplace accelerates the deployment of more effective cryptography solutions to protect the world against the security threats of today and tomorrow.”

Coming into its acquisition, Cryptosense had raised $5.7 million in venture capital funding, according to Crunchbase. Investors included Amadeus Capital Partners, Benhamou Global Ventures, Elaia, IT-Translation and Agoranov.

SandboxAQ investors include former Alphabet CEO Eric Schmidt, billionaire entrepreneur Thomas Tull and Salesforce.com Inc. founder Marc Benioff’s TIME Ventures investment fund.

Image: SandboxAQ

A message from John Furrier, co-founder of SiliconANGLE:

Your vote of support is important to us and it helps us keep the content FREE.

One-click below supports our mission to provide free, deep and relevant content.  

Join our community on YouTube

Join the community that includes more than 15,000 #CubeAlumni experts, including Amazon.com CEO Andy Jassy, Dell Technologies founder and CEO Michael Dell, Intel CEO Pat Gelsinger and many more luminaries and experts.

“TheCUBE is an important partner to the industry. You guys really are a part of our events and we really appreciate you coming and I know people appreciate the content you create as well” – Andy Jassy