Israeli quantum software company Classiq today announced the completion of a $110 million Series C financing round. The quantum computing sector is booming and Classiq’s fund raising comes three months after another Israeli company – Quantum Machines – raised $170 million. Classiq did not disclose the valuation at which the round was completed but industry sources estimate it at above $400 million. The modest valuation is in line with the company’s annual revenue, which is estimated at $8-9 million.
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The round was led by Entrée Capital, with participation from Norwest, NightDragon, Hamilton Lane, Clal, Neva SGR, Phoenix, Team8, IN Venture, Wing, HSBC, Samsung Next and QBeat, as well as other new and existing investors. This investment brings Classiq’s total funding to $173 million.
The new funds will be used to help meet growing demand by enlarging marketing, sales and R&D teams. Classiq will expand its role in national quantum initiatives and as a cornerstone of the quantum ecosystem.
Classiq was founded in 2020 by CEO Nir Minerbi, Amir Naveh, and Yehuda Naveh. The company was chosen by “Globes” as one of Israel’s most promising startups in 2022.
Minerbi said “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.”
Classiq says it has tripled its customer base and revenue year over year and is used by dozens of the top enterprise teams and hundreds of academic institutions worldwide, enabling the creation of quantum applications. Customers include BMW, Citi, Deloitte, Rolls-Royce, Mizuho and Toshiba. The company also collaborates with leading tech giants such as Microsoft, AWS and NVIDIA, as well as academia, forming part of the official curriculum in many top-tier universities.
Classiq’s platform and enterprise solution is suited to designing scalable quantum programs, and addresses the widening gap between quantum hardware and quantum software.
Published by Globes, Israel business news – en.globes.co.il – on May 1w, 2025.
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