P11 Raises $20M Series A to Fight Quantum Crypto Threats

P11 Tackles Quantum Cryptographic Threats

Project Eleven (P11) has raised a $20 million Series A at a $120 million valuation to develop cryptographic solutions that protect against quantum computing threats. As quantum computers advance toward the capability to break widely used encryption, P11 is building the defensive infrastructure the world will need.

The Quantum Security Imperative

Current encryption standards that protect financial transactions, government communications, and corporate data are vulnerable to sufficiently powerful quantum computers. While full-scale quantum computers capable of breaking these standards are still years away, the threat of "harvest now, decrypt later" attacks means that adversaries may already be collecting encrypted data for future decryption. This creates an urgent need for quantum-resistant cryptographic solutions today.

P11's Approach to Post-Quantum Security

P11 is developing next-generation cryptographic tools and protocols designed to withstand attacks from both classical and quantum computers. The company's approach focuses on practical deployment: making it straightforward for organizations to upgrade their cryptographic infrastructure without disrupting existing operations. This pragmatic focus on adoption, rather than purely theoretical security guarantees, positions P11 to capture early market demand from forward-thinking enterprises and government agencies.