- Cryptosense provides cryptography management software designed to shield sensitive data from breaches.
- The purchase of Cryptosense by SandboxAQ will enhance and hasten the global rollout of SandboxAQ’s Post-Quantum Cryptography solutions for businesses and governmental organizations.
Artificial Intelligence (AI) and Quantum computing solutions company SandboxAQ, spun off from Alphabet Inc. as an independent business in March, announced the acquisition of Cryptosense SA, a cybersecurity and encryption analysis software provider, for an undisclosed sum.
Since it was founded in 2013, Cryptosense has provided cryptography management software designed to shield sensitive data from breaches. Marketed as cryptography management at the speed of DevOps, the Cryptosense platform offers a complete insight into cryptography throughout development and a full inventory in production.
Cryptosense’s service resolves compliance issues before the product is released, which includes identifying and fixing risky vulnerabilities. To make best practice cryptography quick, simple, and available to developers, the solution integrates into continuous integration/continuous delivery and supports software, hardware, and cloud cryptography services.
The company’s Analyzer Platform examines apps to determine how they use cryptography, from signing and validating code to encrypting data in transit or at rest; the technology creates complete cartography of all cryptographic objects and how they are utilized – from application cryptography to keys and certificates, and from cloud cryptography services to secure hardware.
Some of the biggest financial and technology companies use the services of Cryptosense. The business manages 45% of all U.S. credit card transactions, the European Union backend of the largest ATM provider in the world, and 70% of all interbank messaging.
The acquisition of Cryptosense by SandboxAQ will supplement and hasten the global rollout of SandboxAQ’s Post-Quantum Cryptography solutions for businesses and governmental organizations. It is claimed that the combined customer relationships will help SandboxAQ advertise its PQC solutions more quickly and shield these businesses and their clients from current and potential quantum threats, such as Store Now and Decrypt Later assaults.
Jack D. Hidary, chief executive of SandboxAQ, said, “Rapid advances in quantum computing and AI challenge the effectiveness and performance of existing cryptography-based cybersecurity solutions. The combined leadership, talent, and expertise that SandboxAQ and Cryptosense bring to the marketplace accelerate the deployment of more effective cryptography solutions to protect the world against the security threats of today and tomorrow.”
Crunchbase reports that Cryptosense had raised USD 5.7 million in venture capital funding before being acquired. Amadeus Capital Partners, Benhamou Global Ventures, Elaia, IT-Translation, and Agoranov were among the investors.
Former Alphabet CEO Eric Schmidt, multibillionaire Thomas Tull, and Marc Benioff’s TIME Ventures venture fund are among the investors in SandboxAQ.