(Image source: Classiq.)
Classiq (Tel Aviv, Israel) has announced it has raised $110 million in Series C funding, the largest amount ever secured by a quantum software company. The round is led by Entrée Capital (Tel Aviv), with participation from Norwest, NightDragon, funds managed by Hamilton Lane (Nasdaq: HLNE), Clal, Neva SGR, Phoenix, Team8, IN Venture, Wing, HSBC, Samsung Next, QBeat, and other new and existing investors.
Nir Minerbi, Co-Founder and CEO, Classiq.
The investment brings Classiq’s total funding to $173 million. The company plans to scale its go-to-market, customer success, and R&D teams while expanding its global footprint to support national quantum initiatives and enterprise adoption.
“We are building the Microsoft of quantum computing,” says Nir Minerbi, co-founder and CEO, Classiq. “In this new era of computing, Classiq is delivering the essential software stack to empower the development of real-world quantum applications.”
Founded in 2020, Classiq has developed a platform that automates the creation of production-grade quantum software. The company reports tripling its customer base and revenues year over year and counts enterprise clients including BMW, Citi, Deloitte, Rolls-Royce, Mizuho, and Toshiba. Its platform is also used in academic institutions and forms part of university curricula.
Simon Fried, VP, Marketing and Business Development, Classiq.
Classiq serves enterprises across industries, including BMW, Citi, Deloitte, Rolls-Royce, Mizuho and Toshiba. The company collaborates with prominent entities such as Microsoft, AWS and NVIDIA, and is also deeply embedded across academia, forming part of the official curriculum in many top-tier universities.
Impact on Insurance
Quantum computing will impact insurers in many ways including how they manage risk, optimize portfolios, and detect fraud, according to Simon Fried, VP, Marketing and Business Development, Classiq. “The Classiq platform empowers insurers to model better complex financial products, including optimizing capital allocation, and simulating risk scenarios at scale —all while staying hardware-agnostic and future-ready,” he says. “By partnering with Classiq, insurance companies can build quantum-powered solutions today that will be ready to deploy as quantum hardware continues to advance.”
Avi Eyal, Managing Partner, Entrée Capital.
Classiq’s offering includes accelerated onboarding for developers and scientists, automated high-level algorithm design, and hardware-agnostic deployment compatible with major cloud services and quantum hardware providers.
“Quantum computing is advancing at a rapid pace, and Classiq has emerged as the clear leader in the quantum software category,” says Avi Eyal, managing partner, Entrée Capital. “We’re proud to support the team as they continue to build the operating system and compiler for all quantum computers.”
The company holds more than 60 filed patents in quantum modeling and compilation, all of which have been accepted to date.
With this latest funding, Classiq aims to establish its development platform as the industry standard for scalable quantum applications in enterprise, government, and academia.