No one knows for sure when large, fault-tolerant quantum computers will arrive, but it could be soon; some experts say 3 years, some 10 years or more. One thing is clear – when they are here, they will have a profound impact on cybersecurity.
Data security depends on cryptography, which uses encryption algorithms and codes to prevent unauthorised access to that data. Quantum computation will have the power to crack many of today’s algorithms, exposing organisations to system compromises and data breaches.
With rising international tensions and more cyberattacks of all kinds, the stakes are high. To ensure sensitive data is quantum-safe, we need to move fast.
Back in 2020, Amadeus met Cryptosense, developers of a patented security software solution providing cryptographic audits. Graham Steel founded the startup after observing issues with current cryptography frameworks while working at the National Institute for Research in Computer Science and Automation in France.
At the time, most organisations were just waking up to the threat quantum computers could pose to cryptography. Legacy tools offered only partial cryptographic visibility and analysis, whilst engaging consultants to audit systems was both costly and impractical for regular use.
In Graham’s mind, the first step toward implementing quantum-safe cryptography was to discover what cryptography was being used in software applications, and where. That’s exactly what Cryptosense built: software that discovers and inventories all uses of cryptography across an IT organization, uncovers errors, reduces the risk of system compromises, and helps to prevent data breaches.
Impressed by the wide potential application of Cryptosense’s technology, Amadeus led a $4.8 million funding round for the start-up in May 2021.
Fast-forward just over a year, and we were approached about Cryptosense by SandboxAQ, the Alphabet Inc. spin-out providing novel AI and Quantum technology solutions it calls “AQ.” SandboxAQ went on to acquire Cryptosense in September 2022, combining resources and expertise to accelerate the deployment of post-quantum cryptography solutions globally.
As investors, this is exactly the kind of trajectory we hope to encourage for the companies we back. We are now delighted to be shareholders in SandboxAQ and look forward to seeing the team expand its mission to deliver quantum-safe cryptography across the world.