QIZ raises $17M for cryptographic governance platform

Israeli startup QIZ Security announced Thursday that it raised $17 million in a seed round led by Bessemer Venture Partners and Merlin Ventures.

The company said it will use the funding to accelerate product development and hire staff as it scales a platform that helps organizations govern encryption across on-premises, cloud and hybrid environments.

QIZ’s platform continuously discovers cryptographic assets across an enterprise, maps connections to applications and business systems, and flags issues such as outdated protocols, weak cipher suites and encryption gaps that expose data in transit and at rest.

The system ranks identified weaknesses by severity and business impact and generates a prioritized remediation plan for security and application teams.

QIZ relies on API-based integration rather than deploying agents or running network probes; the company says this approach lowers operational overhead and supports collaboration among CISOs, compliance officers and application owners.

Investors in the round, in addition to Bessemer and Merlin, included Evolution Equity Partners, Qbeat Ventures, Singtel Innov8 and Qino Cyber Capital.

The company was founded by Ben Volkow, Lenny Ridel and Itan Barmes. Volkow serves as CEO.

Volkow, QIZ’s CEO, stated, “Post-quantum readiness is quickly becoming a board-level cybersecurity and business priority. Enterprises cannot migrate what they cannot see, and they cannot manage cryptographic risk through one-time assessments. QIZ gives organizations the continuous control layer they need to understand, govern, and modernize cryptography before Q-Day arrives.”

QIZ positions its offering as a governance layer that provides ongoing visibility and remediation guidance rather than a single-point-in-time audit.

The company plans to use the new funding to broaden its platform capabilities and expand its customer reach.