A cybersecurity startup is racing against a looming technological threat. QIZ Security, based in New York, has closed a $17 million seed round to prepare enterprises for "Q-Day"-the anticipated moment when quantum computers become powerful enough to break current encryption standards.
The funding round was led by Bessemer Venture Partners and Merlin Ventures, with participation from several other investors. The capital will fuel product development and the expansion of QIZ's cryptographic posture management platform.
The company's platform scans an organization's entire technology stack to identify all encryption instances. It then assesses which are vulnerable to quantum attacks and assists in migrating to quantum-resistant alternatives. CEO Ben Volkow emphasizes automated compliance and risk prioritization as core features.
A key threat QIZ addresses is the "harvest now, decrypt later" attack vector, where adversaries intercept and store encrypted data today, planning to decrypt it with future quantum computers.
While QIZ Security is not involved with cryptocurrency or blockchain, the underlying cryptographic foundations are the same. The public-key cryptography protecting Bitcoin, Ethereum, and other blockchains could be vulnerable to sufficiently powerful quantum computers.
Founded in 2025, QIZ claims over six years of experience in post-quantum cryptography (PQC) and partnerships with more than 100 organizations. In May 2026, the company announced a strategic collaboration with Google Cloud to support enterprises transitioning to quantum-resistant solutions.