We’re thrilled to announce additional investors that have backed SandboxAQ – cyber venture investor Paladin Capital Group, and IQT, a strategic investor to the U.S. national security community. The terms of our nine-figure round remain undisclosed, but we can’t overstate the enormous value these investors provide us.
IQT is best known in Silicon Valley as In-Q-tel. It’s been operating at the nexus of tech and national security since 1999, funding companies in the fields of AI-enabled applications, digital intelligence, communications, materials and manufacturing, sensors, trusted Infrastructure and many other industries that align with SandboxAQ. Right now, our focus is on leveraging the cumulative effects of AI and quantum software to counter the emerging threat that quantum computers pose to our national security. The U.S. government already recognizes that today’s cryptographic systems are no match for quantum computers. Working with IQT will help create awareness among federal agencies and the intelligence community that SandboxAQ’s solutions can modernize and protect critical data, networks, and infrastructure today, and address some of the other use-cases mentioned above. In particular, the advice and connections that IQT’s President Steve Bowsher has provided have been invaluable to us, and we look forward to working more closely with him in the future.
Similarly, Paladin is focused on backing disruptive cyber and advanced technology companies with a focus on Digital Infrastructure Resilience - technologies that enable, monitor, manage, and defend critical infrastructure that is dependent on cyberspace. The firm brings decades of experience, advice, access, and relationships in government, security, intelligence, and commercial markets to its portfolio companies, and they pride themselves on being active investors. All of the above make them a perfect fit for SandboxAQ. Working with the government requires a different vernacular and an understanding of a complex environment that is foreign to most outsiders. Michael and Chris Steed lead a large, global network of advisors who can help us navigate this environment and structure our solutions for government agencies, which will be invaluable to SandboxAQ as we continue to scale globally and solidify our foothold in the federal space.
Paladin and IQT join a growing list of prestigious investors, including Eric Schmidt, Thomas Tull, Bradley M. Bloom, David Siegel, Breyer Capital, TIME Ventures, Guggenheim Investments, Section32, Parkway Venture Capital, First Light Capital Group, funds and accounts advised by T. Rowe Price Associates, Inc. and other leading funds. We look forward to our long-term partnership and close working relationships with all of these investors.