Project Eleven
A 2024-founded New York post-quantum migration specialist for crypto networks that raised a $20M Series A at a $120M valuation.
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Project Eleven, founded in 2024 and based in New York, provides readiness assessments, migration test environments, and deployment sequencing to move crypto networks and institutions off quantum-vulnerable elliptic-curve cryptography before harvest-now-decrypt-later attacks mature. It focuses on the practical mechanics of multi-year post-quantum migration across an ecosystem securing trillions in digital assets.
Backed by Castle Island Ventures and Coinbase Ventures, it tripled its valuation to $120 million with a $20 million Series A roughly seven months after its seed round.
Innovation Matrix Assessment
Built readiness-assessment, migration-testing, and deployment-sequencing tooling for post-quantum blockchain migration within roughly a year of founding.
Very early-stage; practical migration tooling exists but has not yet been deployed at production scale across major networks.
Raised a $20M Series A in January 2026 at a $120M valuation, roughly seven months after a $6M seed, led by Castle Island Ventures with Coinbase Ventures participating.
Treats post-quantum migration as a staged, practical engineering problem rather than a pure cryptography research question, a meaningfully different framing than most PQC vendors.
Too early-stage for independent, real-world efficacy evidence; claims are vendor- and press-reported.
Quantum-computing advances make elliptic-curve-secured digital assets a durable, high-stakes, increasingly time-sensitive migration problem for the industry.
Why CISOs Should Care
Gives security and digital-asset infrastructure teams readiness assessments, migration test environments, and deployment sequencing to move crypto networks and institutions off quantum-vulnerable elliptic-curve cryptography before 'harvest now, decrypt later' attacks mature.
What Makes It Different
Focuses specifically on the practical mechanics of multi-year post-quantum migration for blockchain networks and institutions -- not just quantum-resistant algorithms, but the staged tooling to actually execute the transition across an ecosystem securing trillions in digital assets.
The Matrix Verdict
57/100 — INCREMENTAL INNOVATOR
A very early-stage but well-backed (Castle Island Ventures, Coinbase Ventures) post-quantum migration specialist that tripled its valuation to $120M with a $20M Series A roughly seven months after its seed round.
Editorial Note: Claims vs. Verified Findings
The $4 trillion digital-asset exposure figure is an industry-wide estimate cited in press coverage, not a company-specific claim; independent validation of migration-tooling efficacy was not found in this pass.
Sources
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