Classiq, a quantum computing software company, said it raised $110 million in Series C funding. The company is looking to build the software stack for quantum computing.
The funding, led by Entrée Capital and a bevy of other investors, will be used to build Classiq's go-to-market, customer success and R&D teams globally.
Classiq's software has been used for multiple projects and has the promise of being the software layer across the various types of quantum computing systems. Classiq has raised $173 million in total funding.
Nir Minerbi, CEO of Classiq, said the goal is to build "the essential software stack to empower the development of real-world quantum applications."
Constellation Insights caught up with Minerbi recently to talk strategy and its hardware agnostic approach. Classiq, based in Israel, was founded in 2020. The company said it has tripled its customer base and revenue in compared to a year ago.
- Classiq CEO Minerbi on the intersection of quantum computing, HPC and use cases
- Constellation ShortList™ Quantum Computing Software Platforms
Classiq counts BMW, Citi, Deloitte and Toshiba as customers.
Constellation Research analyst Holger Mueller said:
"Classiq's funding is another sign of the quick maturation of the quantum computing industry. The funding for software highlights what really matters in quantum computer after the hardware.
Funding for Classiq is the proof point here, and the good news for CxOs is that Classiq is providing the abstraction layer between different quantum computing platforms. Classiq's claim to be for the quantum industry what Microsoft has been for the PC is a valid one, but needs to materialize."
Key items about Classiq:
- The company's software can be deployed on multiple quantum hardware systems via AWS Braket, Microsoft Azure Quantum, Google Cloud.
- Classiq has direct integration with IBM, IonQ, QuEra, Quantinuum, OQC, AQT, Alice & Bob, Rigetti and most leading simulators including NVIDIA and Intel.
- Classiq has more than 60 filed patents on core quantum modeling and compilation technologies.
- The company has about 70 employees, up from 40 in 2022.
- Classiq covers multiple industries including finance, healthcare, pharma, manufacturing, logistics, automotive, aerospace and defense and automotive.
More quantum:
- IBM sees quantum advantage 2026, fault tolerant quantum in 2029
- 2025 is the year of quantum computing (already)
- CxOs need to focus on quantum computing readiness, not the noise
- IonQ’s plan: Quantum networks extending into space
