Classiq announced it raised $110 million in Series C funding, the largest ever for a quantum software company. The funding round was led by Entrée Capital, with participation from Norwest, NightDragon, funds managed by Hamilton Lane (Nasdaq: HLNE), Clal, Neva SGR, Phoenix, Team8, IN Venture, Wing, HSBC, Samsung Next, and QBeat, as well as other new and existing investors.
This round brings Classiq’s total funding to $173 million, positioning the company to meet growing demand by significantly scaling its go-to-market, customer success, and R&D teams.
In the coming years, quantum computers will have a dramatic commercial impact, driving value across many sectors. And Classiq has developed deep technology and built a leading quantum software product that unleashes this new wave of computing power.
What Classiq does: Classiq’s platform, the only enterprise solution suited to designing scalable quantum programs, addresses the widening gap between quantum hardware and quantum software:
1.) Accelerated onboarding – This technology enables developers, data scientists, computational scientists, and engineers to build production-grade quantum programs quickly.
2.) Automated algorithm development that scales – Seamlessly translates high-level functional models into low-level circuits, optimized for execution via the cloud.
3.) Hardware-agnostic deployment – AWS Braket, Microsoft Azure Quantum, Google Cloud. Direct integration with: IBM, IonQ, QuEra, Quantinuum, OQC, AQT, Alice & Bob, Rigetti, and most leading simulators, including NVIDIA and Intel.
The company is powered by a team of skilled researchers and engineers, including quantum computing pioneers and enterprise software veterans. Together, they bring hundreds of years of combined experience from top technology institutions and leading global companies.
This expertise spans quantum physics, software engineering, chip design and compilation technologies – all contributing to Classiq’s enterprise-grade innovation.
This innovation is also protected by over 60 filed patents on core quantum modeling and compilation technologies. To date, it has a 100% acceptance rate, a testament to the company’s scientific leadership and IP strategy.
Momentum: Classiq tripled its customer base and revenues year over year and it is used by dozens of the top enterprise teams and hundreds of academic institutions worldwide, enabling the creation of quantum applications.
Classiq serves enterprises across industries, including BMW, Citi, Deloitte, Rolls-Royce, Mizuho, and Toshiba. The company collaborates with leading entities such as Microsoft, AWS, and NVIDIA and is also deeply embedded in academia, forming part of the official curriculum in many top-tier universities.
What the funding will be used for: Classiq will expand its global footprint to broaden its leading role in national quantum initiatives and as a cornerstone of the quantum ecosystem.
KEY QUOTES:
“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.”
Nir Minerbi, CEO and Co-founder of Classiq
“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.”
Avi Eyal, Managing Partner at Entrée Capital
