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Classiq latest to gain from SoftBank's growing quantum interest
SoftBank has made another notable investment in the emerging quantum commuting sector, as software firm Classiq announced that the SoftBank Vision Fund 2 has joined its Series C funding round first announced in May.
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Classiq Raises $110 Million in Record Quantum Software Round
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."
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A Software Bet in Quantum Computing
One of the largest recent investments is the $110 million Series C round announced this week by Tel Aviv startup Classiq. Entrée Capital led the deal, with participation from Norwest Venture Partners, NightDragon, funds managed by Hamilton Lane, and others.
Nir Minerbi, Classiq’s co-founder and chief executive, said the company is valued at roughly half a billion dollars after this round. Classiq plans to use its new funding to expand commercial relationships and research and development, as well as open offices globally.
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Classiq gets $110M to help it become 'the Microsoft of quantum'
It’s pretty bold for a five-year-old startup to say it wants to be “the Microsoft of quantum computing. Then again, when you show up making that statement with $110 million in new funding in your pocket, it gets a little easier to believe you are at least on the right path.
Classiq, based in Tel Aviv, Israel, just announced a Series C fundraising of $110 million that pushes its total funding to about $173 million.
