Classiq, a pioneer in quantum software development, has announced the successful completion of its Series C funding round, raising an unprecedented $110 million. This marks the largest funding ever secured by a quantum software company. The investment round was led by Entrée Capital, with significant participation from Norwest, NightDragon, funds managed by Hamilton Lane, Clal, Neva SGR, Phoenix, Team8, IN Venture, Wing, HSBC, Samsung Next, QBeat, and other new and existing investors.
With this latest funding, Classiq’s total capital raised now stands at $173 million. The company plans to utilize these funds to expand its global presence and strengthen its go-to-market, customer success, and research and development teams. This strategic investment will enable Classiq to meet the rising demand for quantum computing solutions, solidifying its position as a key player in the quantum ecosystem and a leader in national quantum initiatives.
Driving the Future of Quantum Computing
Nir Minerbi, CEO and Co-founder of Classiq, expressed his vision for the company, stating, “We are building the Microsoft of quantum computing. In this new era of computing, Classiq is delivering the essential software stack to empower the development of real-world quantum applications.”
Quantum computing is poised to revolutionize industries by unlocking significant commercial value. Since its founding in 2020, Classiq has developed cutting-edge technology that enables organizations to leverage the immense potential of quantum computing. The company’s flagship quantum software platform has become a vital tool for enterprises and academic institutions worldwide, facilitating the development of scalable quantum applications.
Impressive Growth and Industry Collaboration
Over the past year, Classiq has tripled its customer base and revenue, earning the trust of leading enterprises and educational institutions. The company’s solutions are currently employed by industry giants such as BMW, Citi, Deloitte, Rolls-Royce, Mizuho, and Toshiba. Furthermore, Classiq collaborates with prominent technology leaders including Microsoft, AWS, and NVIDIA. The company’s academic partnerships include integration into the curriculum of many top universities globally.
Also Read: IonQ and Intellian Forge Strategic Partnership to Advance Quantum-Enabled Satellite Communications
Innovative Quantum Software Solutions
Classiq’s platform is uniquely designed to address the gap between quantum hardware and software, offering the only enterprise solution capable of designing scalable quantum programs. Key features of the platform include:
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Accelerated Onboarding: Allows developers, data scientists, and engineers to rapidly create production-grade quantum applications.
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Automated Algorithm Development: Transforms high-level functional models into optimized low-level circuits for cloud execution.
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Hardware-Agnostic Deployment: Compatible with cloud services like AWS Braket, Microsoft Azure Quantum, and Google Cloud, with direct integration to leading quantum hardware providers, including IBM, IonQ, QuEra, Quantinuum, OQC, AQT, Alice & Bob, Rigetti, and top simulators like NVIDIA and Intel.
Avi Eyal, Managing Partner at Entrée Capital, shared his perspective on the company’s impact, saying, “Quantum computing is advancing at a rapid pace, and Classiq has emerged as the clear leader in the quantum software category. We’re proud to support the team as they continue to build the operating system and compiler for all quantum computers.”