|Privately held company|
|Founded||December 1, 2012|
|Headquarters||Vancouver, British Columbia, Canada|
|Andrew Fursman, CEO
Landon Downs, CFO
Robyn Foerster, GM
David Roberts, Chair
Number of employees
1QB Information Technologies, Inc. (1QBit) is a quantum computing software company, based in Vancouver, British Columbia. 1QBit was founded on December 1, 2012 and a longstanding partnership with D-Wave Systems was formally announced on June 9, 2014. While 1QBit develops general purpose algorithms for quantum computing hardware, the organization is primarily focused on computational finance, the energy industry, and the life sciences.
In an equity research report from November 2013, J. P. Morgan Chase and Co.'s Global Equity Quant Strategy team summarized 1QBit's technology as "an accessible framework for practitioners to access the power of Quantum computing without needing to understand the underlying complexities." From a technical perspective, 1QBit's software reformulates financial problems into the quadratic unconstrained binary optimization format necessary to compute with quantum annealing processors.
Although 1QBit was founded as the first dedicated quantum computing software company in 2012, the D-Wave Two processor wasn't confirmed as the first "real" quantum computer until June 2014. This finding validated the technology underpinning 1QBit's quantum algorithms and "provided an encouraging sign that QA is a viable technology for large-scale quantum computing." In 2013, 1QBit raised seed funding from US and Canadian angel investors, before closing a Series A financing round led by the Chicago Mercantile Exchange in 2014.
World Economic Forum Technology Pioneer
On August 5th, 2015 the World Economic Forum announced 1QBit as a recipient of the 2015 Technology Pioneer Award. This honour recognizes 1QBit as a leader among the world’s most promising technology companies alongside past winners such as Google, Dropbox, Palantir, Twitter, and Kickstarter. The 2015 cohort is composed of a select few contemporary deep science start-up companies including 1QBit, Ayasdi and Vicarious. The World Economic Forum's Technology Pioneers programme recognizes early-stage companies from around the world that are involved in the design, development and deployment of new technologies, and are poised to have a significant impact on business and society.
1QBit is headquartered in Vancouver, British Columbia, Canada. In early 2014, 1QBit was invited to join the OneEleven data community located in Toronto, Ontario, Canada. This second location serves as the data science and software production arm of the organization.
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- "D-Wave Systems Building Quantum Application Ecosystem, Announces Partnerships with DNA-SEQ Alliance and 1QBit". June 9, 2014.
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- "Technology Pioneers to Watch in 2015". The World Economic Forum. The World Economic Forum. Retrieved August 16, 2015.
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- "1QBit Locations". 1QBit Website. Retrieved 17 June 2014.
- "1QBit @ OneEleven". OneEleven.com. Retrieved 17 June 2014.