Cybersecurity startup QIZ Security Ltd. today announced it has raised $17 million in seed funding to expand a platform that discovers and governs the encryption buried across enterprise systems ahead of the migration to quantum-safe algorithms.

Founded in 2025, the company offers a platform that connects to enterprise systems over application programming interfaces rather than the agents or network probes such tools usually require.

The platform works by building an inventory of every cryptographic asset it finds, whether on-premises, in the cloud or somewhere in between, and then ties each one to the applications and business processes that use it. Outdated protocols, weak cipher suites and unencrypted data get flagged, scored for severity and business impact and handed to security teams as a fix list in priority order.

Most large enterprises cannot answer basic questions about their own cryptography. Which algorithms run where? Who owns the keys? What breaks when any of it changes? Sorting that out takes years and organizations that start late may find sensitive data has already been harvested by attackers waiting on quantum hardware capable of decrypting it.

Regulators have set the clock. Under an executive order signed by President Donald Trump on June 22, federal agencies must move high-value assets to post-quantum key establishment by the end of 2030 and to post-quantum digital signatures by the end of 2031, pulling forward a previous target of 2035. Google LLC in March committed to its own 2029 migration deadline.

Ben Volkow, co-founder and chief executive of QIZ Security, said post-quantum readiness has become a board-level priority rather than a technical one and that one-time assessments cannot keep pace with cryptographic risk. “Enterprises cannot migrate what they cannot see,” he said.

Volkow is a serial founder whose prior companies include Otonomo Technologies Ltd., which went public on Nasdaq via SPAC before merging into Urgent.ly in 2023, along with Traffix, acquired by F5 Inc. and Sedona Networks. His co-founders are Lenny Ridel and Itan Barmes. Barmes ran the global quantum cyber readiness team at Deloitte Touche Tohmatsu Ltd. before leaving to start QIZ and is now its chief strategy officer.

QIZ says it has customers in financial services, telecommunications, healthcare and critical infrastructure and that it is building partnerships with Cisco Systems Inc., Amazon Web Services Inc., Google, CrowdStrike Holdings Inc., Deloitte, Ernst & Young Global Ltd. and IBM Corp. to feed discovery and migration planning work. The company claims more than six years of collective field experience on post-quantum projects covering over 100 organizations.

Bessemer Venture Partners and Merlin Ventures co-led the round. Evolution Equity Partners, Qbeat Ventures, Singtel Innov8 Pte. Ltd. and Qino Cyber Capital Ltd. also participated.

Merlin Managing Partner Seth Spergel said regulated organizations need a practical path to crypto-agility rather than awareness of the threat. Qbeat co-founder Dorit Dor, formerly chief technology officer at Check Point Software Technologies Ltd., said the company’s technical depth and market timing position it as a leader in the emerging PQC management category.

Image: Qiz Security