Project Eleven

Post-quantum security company for blockchains and digital assets, backed by a $20M Series A, publisher of the Q-Day Prize and the 110-page Quantum Threat to Blockchains report.

Project Eleven at a glance

Project Eleven builds post-quantum cryptographic infrastructure for blockchains and digital assets.

The company says it was founded in 2024. Its concern is narrower and more concrete than most post-quantum companies: Bitcoin and other chains secure funds with elliptic curve signatures, the public keys are already on-chain, and a sufficiently large quantum computer running Shor's algorithm would recover private keys from them.

Nothing that threat requires the attacker to be present today, because the keys are already published. Alex Pruden, a former US Special Forces officer, is co-founder and chief executive, and Conor Deegan is co-founder and chief technology officer.

After a $6M seed round in June 2025 led by Variant and Quantonation , it raised a $20M Series A on 14 January 2026 led by Castle Island Ventures, with Coinbase Ventures, Fin Capital, Variant, Quantonation, Nebular, Formation, Lattice Fund, Satstreet Ventures, Nascent Ventures and Balaji Srinivasan participating.

Its public work has been unusually concrete. It ran the Q-Day Prize, a one-bitcoin bounty for the largest quantum attack on elliptic curve cryptography, awarded to Giancarlo Lelli for breaking a 15-bit elliptic curve key on a publicly accessible quantum computer, which is a long way from a real key but is a measured datum rather than a projection.

It also published "The Quantum Threat to Blockchains", a 110-page 2026 report that puts a baseline Q-Day at 2033, with optimistic and pessimistic scenarios of 2030 and 2042, and has argued that Bitcoin's migration window may already be too short.

Project Eleven disclosed a state-reuse flaw in the Threshold ML-DSA reference code that could expose a signer's secret , fixed with PQShield on 5 September. projecteleven.com

Marin Ivezic, founder of Applied Quantum, joined Project Eleven as an advisor. projecteleven.com

Project Eleven began a collaboration with Ripple to audit the XRP Ledger for quantum vulnerabilities and prototype hybrid post-quantum signatures and a quantum-secure custody wallet. projecteleven.com

Project Eleven open-sourced libqc and quantum-vault, Cure53-audited reference implementations for post-quantum wallet migration. projecteleven.com

Project Eleven published The Quantum Threat to Blockchains 2026 Report, with a baseline Q-Day of 2033 and optimistic and pessimistic scenarios of 2030 and 2042. prnewswire.com

Project Eleven awarded its one-bitcoin Q-Day Prize to Giancarlo Lelli for breaking a 15-bit elliptic curve key on a publicly accessible quantum computer. prnewswire.com

Project Eleven raised a $6 million seed round led by Variant and Quantonation. prnewswire.com

You've reached the limit of free company profiles

What is Quantum Security?

Quantum security companies focus on protecting data and communications against both current and future quantum threats.

What is Quantum Cryptography?

Quantum cryptography companies develop QKD hardware and quantum-safe key management, securing communications through physical law rather than computational difficulty.

Project Eleven software and frameworks

Chrome Extension for the Project Eleven Quantum Vault

Project Eleven's core library for interacting with quantum-safe wallets

A reference site for post-quantum cryptographic algorithms

bitcoin-risq-list-query

This repository contains the SQL query used to identify quantum-vulnerable Bitcoin addresses on the Bitcoin mainnet blockchain. This query powers the BTC at Risk Tracker by analyzing the public Bitcoin blockchain data av

A Rust library for encoding and decoding post‑quantum public keys into human‑friendly Bech32m addresses.

A Typescript library for encoding and decoding post‑quantum public keys into human‑friendly Bech32m addresses.

Public web tracker of Bitcoin addresses at risk of quantum attack, where users can check whether an address has an exposed public key. Its SQL query is published as the open-source bitcoin-risq-list-query repository.

Hardware and Services

Enterprise post-quantum security services

Advisory and co-development work for blockchain protocols and infrastructure teams: protocol and cryptography review, post-quantum readiness assessment and migration strategy, threat modelling, and embedded security advisory for L1 teams.

Project Eleven partnerships and collaborations

Project Eleven implements NIST post-quantum cryptography standards for blockchain security

Project Eleven quantum threat modelling using IBM quantum hardware risk assessment

Project Eleven post-quantum blockchain research for Ethereum quantum-safe upgrade roadmap

Project Eleven founders and leadership

Project Eleven funding and investors

$20M Series A announced 14 January 2026, led by Castle Island Ventures with Coinbase Ventures, Fin Capital, Variant, Quantonation, Nebular, Formation, Lattice Fund, Satstreet Ventures, Nascent Ventures and Balaji Srinivasan; earlier $6M seed in June 2025 led by Variant and Quantonation.

Investors that list Project Eleven in their portfolio: Lattice Fund , Nebular , Castle Island Ventures , Nascent Ventures .

Latest Project Eleven news

Project Eleven buys Riva Labs to build post-quantum security

Project Eleven buys Riva Labs to speed up post-quantum security

Q-Day Baseline Scenario in 2033 Says Project Eleven

Project Eleven Advances Post-Quantum Migration Tools For $4

Interested in Project Eleven ? Get pricing, demos, or technical details.

Get in touch with Project Eleven your project.

Are you from Project Eleven ? Verify your association to update your listing and receive notifications.

Verify you represent Project Eleven to update your listing.

Quantum Intelligence Weekly

Market moves, qubit milestones, and funding rounds. Every Monday.

Get the latest quantum computing news delivered to your inbox.

Project Eleven buys Riva Labs to build post-quantum security

Project Eleven acquired Riva Labs, bolstering its work in cryptography for digital assets and blockchain infrastructure.

Project Eleven buys Riva Labs to speed up post-quantum security

Project Eleven acquired Riva Labs, bolstering its work in cryptography for digital assets and blockchain infrastructure.

Q-Day Baseline Scenario in 2033 Says Project Eleven

Project Eleven’s report assesses the timeline for cryptographically relevant quantum computing, noting estimates to break encryption have fallen from.

Project Eleven Advances Post-Quantum Migration Tools For $4

Addressing quantum threats, Project Eleven secured $20M to build crucial post-quantum migration tools for the $4T digital asset ecosystem.

Frequently asked questions Project Eleven

Project Eleven builds post-quantum cryptographic infrastructure for blockchains and digital assets. The company says it was founded in 2024. Its concern is narrower and more concrete than most post-quantum companies: Bitcoin and other chains secure funds with elliptic curve signatures, the public keys are already on-chain, and a sufficiently large quantum computer running Shor's algorithm would recover private keys from them. Nothing that threat requires the attacker to be present today...

Project Eleven is headquartered in San Francisco, United States.

Alex Pruden is the CEO of Project Eleven.

Project Eleven was founded by Alex Pruden and Conor Deegan in 2024.

Project Eleven was founded in 2024.

Project Eleven operates in the following sectors: quantum security, quantum cryptography.

Project Eleven has raised $26M in total disclosed funding.

Investors that list Project Eleven in their portfolio include Lattice Fund, Nebular, Castle Island Ventures and Nascent Ventures.

Companies working in the same areas as Project Eleven include SignQuantum, Qaisec, pQCee, Photarix and LuxQuanta.