Classiq reports that it has closed a $110m Series C financing, which the company says is the largest ever obtained by a quantum software company. The round was led by Entrée Capital, with participation from Norwest, NightDragon, Hamilton Lane, Clal, Neva, Phoenix, Team8, IN Venture, Wing, HSBC, Samsung Next and QBeat, and other new and existing investors.
This round brings Classiq’s total funding to $173 million, enabling the company to meet the growing demand in the industry through a significant expansion of its go-to-market, customer success and research and development teams. Classiq will strengthen its global presence, consolidating its role in quantum initiatives. The funding will support the opening of new offices to support growth in European markets and the expansion of the sales staff in Italy.
“We are building the Microsoft of quantum computing,” says Nir Minerbi, CEO and co-founder of Classiq (pictured with fellow founders Yehuda and Amir Naveh) in a note. “In this new era of computing, Classiq offers the fundamental software stack to power the development of quantum applications in the real world.
Founded in 2020, Classiq has developed advanced technology and built a cutting-edge quantum software product that harnesses this new wave of computing power, the company has tripled its customer base and turnover year-on-year. Its platform is now used by numerous companies and hundreds of academic institutions worldwide, contributing to the development of quantum applications.
The company works alongside companies such as BMW, Citi, Deloitte, Rolls-Royce, Mizuho and Toshiba, and collaborates with major players such as Microsoft, AWS and Nvidia. Deeply integrated in the academic world, Classiq is part of the official programmes of numerous universities.
Classiq’s platform, an enterprise solution designed for scalable quantum programme design, addresses the growing gap between quantum hardware and quantum software: rapid onboarding that enables developers, data scientists, researchers and engineers to quickly design industrial-grade quantum programmes; automated development of scalable algorithms that smoothly converts high-level functional models into low-level circuits, optimised for execution through the cloud; hardware-independent implementation supporting AWS Braket, Microsoft Azure Quantum, Google Cloud, with direct integration to platforms such as IBM, IonQ, QuEra, Quantinuum, OQC, AQT, Alice & Bob, Rigetti and most major simulators, including NVIDIA and Intel.
“Quantum computing is experiencing a decisive moment, marking the transition from long-term research to short-term industrial application. In this context, Classiq has established itself as a strategic player in the development of the quantum software stack. With this investment, Neva confirms its commitment to generating value for Italy, supporting the country’s active role in defining the future of quantum technologies. We are convinced that Classiq’s contribution is crucial for the development of scalable, hardware-independent quantum infrastructures in Europe and worldwide,’ says Mario Costantini, CEO and general partner of Neva, Intesa Sanpaolo’s venture capital company.
The company employs a team of researchers and engineers including pioneers in quantum computing and professionals with long experience in enterprise software. The team’s expertise ranges from quantum physics to software engineering, from chip design to compilation technologies, contributing to Classiq’s enterprise-level innovation, which protects its innovations with over 60 patents filed on leading quantum modelling and compilation technologies, with a 100% acceptance rate to date.
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