Exclusive-Alphabet spinoff Sandbox AQ raises $500 million for cyber security, other quantum work

OAKLAND, Calif. :Sandbox AQ, a startup spun off from Alphabet Inc last year, said on Tuesday it raised $500 million as it helps customers prepare for a quantum computing future.

But as hackers can harvest data today and wait to decrypt them when the quantum computers are ready, the National Institute of Standards and Technology under the U.S. Commerce Department selected new cryptography standards last year that could better withstand quantum computers. Sandbox AQ's software scans companies' systems to identify which parts use the old cryptography, identifies which need to be replaced urgently, and sets out to fortify the encryption of the enterprise, said CEO Jack Hidary.

Former Google Chief Executive Eric Schmidt is the startup's chairman as well as investor. Other investors include Breyer Capital, T. Rowe Price funds and Salesforce.com Inc founder Marc Benioff's TIME Ventures.

Domain Domain Latest News, Domain Domain Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Exclusive-Alphabet spinoff Sandbox AQ raises $500 million for cyber security, other workSandbox AQ, a startup spun off from Alphabet Inc last year, said on Tuesday it raised $500 million as it helps customers prepare for a quantum computing future.Former Google Chief Executive Eric Schmidt is the startup's chairman as well as an investor. Other investors include Breyer Capital, T. Rowe Price
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »