Quantum-Safe Security Specialist ISARA Raises $10 Million

Here’s alumni funding news that slipped beneath our radar: Canadian cybersecurity firm ISARA picked up a $10 million investment last month. The company, which specializes in developing quantum-safe cryptographic solutions that can be integrated into commercial products to defend against quantum computer-based cyberthreats, demonstrated its technology at our developers conference, FinDEVr London 2017.

“The global economy and our daily lives are built around a secure online ecosystem that will crumble in the face of a full-scale quantum computer,” ISARA CEO Scott Totzke explained. “Ensuring that the many significant benefits of quantum computing can be realized requires a robust set of quantum-safe security and encryption practices that are practical, affordable and agile.” Totzke said his company’s goal was to ensure that institutions are able to “enter the Quantum Age with confidence and optimism.”

The November investment was led by Shasta Ventures and adds to an $11.5 million investment ISARA received from Quantum Valley Investments in 2015. The company’s total funding now stands at $21.5 million.

Because quantum computers are more effective at factoring large numbers compared to classical computers, there is a rising danger that cybercriminals will use quantum computing technology to take advantage of the fact that modern encryption standards are based on large-number factoring. Totzke has warned that cyber attacks leveraging quantum computing technology could be possible as soon as 2026, and that quantum risk assessment and transition planning should be a fundamental part of a company’s cybersecurity strategy. To this end, ISARA provides quantum-resistant algorithms and integration tools – such as its ISARA Radiate Security Solution Suite – to empower organizations to integrate quantum-safe security into their products and networks.

Shasta Ventures Partner Nitin Chopra said quantum computing would force “a wholesale, generational rethinking of how we secure the digital environment.” Chopra praised ISARA not only as “the clear leader” in quantum-safe security solutions, but also as “the only company with commercial solutions that can be implemented today.”

Founded in 2015 and based in Waterloo, Ontario, Canada, ISARA Corporation partnered with BlackBerry in October, enabling the handheld device maker to offer a quantum-resistant code signing service to defend against quantum computer-powered attacks. Also this fall, ISARA launched its ISARA Catalyst Agile Digital Certificate Technology. ISARA Catalyst allows multiple cryptographic signature algorithms to be used in a single digital certificate. This lowers redundancy and enables users to switch easily from classical to quantum-safe encryption as circumstances require.

Finovate Alumni News

On Finovate.com

  • Expensify Celebrates Profitability, Cash Flow Positivity at Year’s End.
  • Quantum-Safe Security Specialist ISARA Raises $10 Million.

Around the web

  • Tradeshift acquires cloud integration technology innovator, Babelway.
  • Myanmar’s biggest privately-owned bank, Kanbawza (KBZ) Bank picks Finastra’s treasury management solution, Fusion Treasury.
  • Temenos secures core banking deal with Israel’s largest credit card company, Isracard.
  • Onfido reports sales growth of 342% in 2018.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Onfido to Help Crowdfunding Platform Indiegogo Fight Fraud.

Around the web

  • The Technology Transformation Service of the U.S. General Services Administration awards $2 million bug bounty contract to HackerOne.
  • Mortgage Cadence integrates LoanBean’s income calculation solution into its end-to-end loan origination platform.
  • Minnesota-based Glenwood State Bank ($289 million in assets) to deploy Jack Henry SilverLake core banking platform.
  • Avaloq taps former Credit Suisse executive Michael Pahlke as Chief Service Delivery Officer (CSDO).
  • ID.me founder and CEO Blake Hall earns spot on Washingtonian’s Tech Titans 2018: Washington’s Top Tech Leaders.
  • Infosys announces plans to open tech hub in Arizona and hire 1,000 Americans by 2023.
  • PromonTech integrates its POS platform, Borrower Wallet, with GSF Mortgage.
  • Forbes features Tina Hsiao is COO at WePay.
  • Fenergo doubles revenue for 2nd year & expands into new market segments.
  • ISARA partners with DigiCert and Gemalto to develop digital certificates and secure key management for connected devices.
  • Flywire partners with Allianz Global Assistance to enable families to purchase Allianz’s GradGuard Tuition Protection Plan.
  • Trustly’s Pay N Play solution to power Gaming Innovation Group fast-registration and withdrawal feature.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

FinDEVr Preview: ISARA

FinDEVr Previews highlight companies presenting new developer tools, platforms, and integrations at FinDEVr London 2017, 12  & 13 June. Tickets are on sale now. Visit our registration page and save your spot today.

The emerging quantum threat to cybersecurity affects global financial institutions. Next-generation security options can provide resistance to quantum computer attacks. ISARA will present a demo of those options for securing an online banking connection against current and future attacks, and give expert recommendations for quantum safe security transition strategies.

Why it’s a must-see:

Fintech developers must respond to the needs of an industry making long-term strategic bets on emerging technologies while also protecting against emerging cybersecurity threats, including quantum computers. The quantum threat requires careful risk analysis, and quantum safe implementations can and must begin today to avoid future liability.


Check out more previews of upcoming FinDEVr London 2017 presentations. Visit our registration page to save your spot today.

Finovate Alumni News

On Finovate.com

On FinDEVr.com

  • Check out our latest FinDEVr Previews featuring ISARA and eSignLive by VASCO.

Around the web

  • TransferWise introduces multi-currency bank accounts for businesses.
  • Langley FCU to deploy Episys core system from Jack Henry & Associates’ Symitar division.
  • Great Southern Bank selects cloud banking technology from nCino.
  • getAbstract and CREALOGIX enter into a digital learning partnership.
  • InComm partners with Sony to deliver gift cards in Hong Kong.
  • NIIT Technologies partners with AI company Arago.
  • AutoGravity receives the 2017 North American Frost & Sullivan Entrepreneurial Company of the Year Award.
  • Fiserv launches SecureNow to integrate cybersecurity protection for digital banking.
  • Finextra: ABN Amro selects Fenergo to support KYC.
  • Yandex.Money brings Android Pay to Russia.
  • Misys FusionBanking Essence to power online and mobile banking offering for Crnogorska Komercijalna Banka (CKB).
  • Trustly to power online bank payments at leading online fashion retailer Boozt.com

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

FinDEVr APIntelligence

Our first developers conference in the U.K. is just over a month away. If APIs and SDKs are just a few of your favorite fintech acronyms, then join us for two days of developer-focused presentations, demonstrations, and conversations at FinDEVr 2017 London, June 12 and 13. Stop by our registration page today and save your spot.

FinDEVr 2017 London is a part of London Tech Week, which runs from June 12 to June 16.

On FinDEVr.com

  • Symbiont Gains “Strong Partner in Asia” with Investment from Hundson Technologies.

Upcoming FinDEVr 2017 London alum news

  • Check Out Our Exclusive Interview with ISARA CEO, Scott Totzke.
  • Our latest FinDEVr Features Are Up. Meet Kontomatik and IdentityMind Global.

Alumni updates

  • Kontomatik earns top 50 spot in the 2017 Dutch FinTech Awards. Join Kontomatik in London for FinDEVr in June.
  • ACI Worldwide’s point-to-point encryption solution earns PCI P2PE compliance validation.
  • Thoma Bravo to Acquire Lexmark’s Kofax.
  • MapD partners with Continuum Analytics & H2O.ai, to form the GPU Open Analytics Initiative.
  • Thinking Capital to offer SMB financing options to TouchBistro POS clients.
  • Token Picks Up $18.5 Million to Help Banks Rise to Challenge of PSD2.
  • PayNearMe adds 8,000 CVS Pharmacy Stores to its network cash acceptance locations.
  • CardFlight unveils new line of mobile card readers to support secure EMV and NFC contactless payments.
  • Gartner recognizes OutSystems as a leader in enterprise high productivity application platform as a service technology.
  • Malauzai’s Vantiv Partnership to Leverage OnDot’s CardControl Tool.

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.