Industry Computer software Founded 1 December 2012 Number of employees 50 | Website www.1qbit.com Headquarters Vancouver Type Privately held company | |
 | ||
Key people Andrew Fursman, CEO
Landon Downs, President
Robyn Foerster, GM
David Roberts, Chair | ||
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.
Contents
Technology description
1QBit's software reformulates optimization problems into the quadratic unconstrained binary optimization (QUBO) format necessary to compute with D-Wave's quantum annealing processors.
History
1QBit was founded as the first dedicated quantum computing software company in 2012. 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. On August 5th, 2015 the World Economic Forum announced 1QBit as a recipient of the 2015 Technology Pioneer Award recognizing 1QBit as a leader among the world’s most promising technology companies.
Locations
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.