1QBit Company Backgrounder

Introducing Quantum-Ready Software

1QBit builds quantum-ready development tools and software platforms to solve the world’s most demanding computational challenges.
Partnering with Fortune 500 companies, 1QBit’s research and software development teams are enlisted to solve industry’s most difficult problems in the fields of optimization, simulation, and machine learning. The company’s platforms and software development kit enable the development of applications that are compatible with both classical and quantum processors.
Headquartered in Vancouver, Canada, 1QBit’s interdisciplinary team of over 45 world-class mathematicians, physicists, software developers, and quantum computing experts share a drive to uncover new ways to address intractable problems using advanced classical and quantum systems. 1QBit was founded in 2012 by Andrew Fursman and Landon Downs, following their investment in D-Wave Systems and analysis of the impending need for tools to facilitate commercial quantum computation. The company is backed by a private investor base led by the CME Group and the Royal Bank of Scotland.
To apply breakthroughs in computation to machine intelligence and optimization science through a widely accessible, quantum-ready software platform.  
Andrew Fursman, CEO – Andrew was a founding partner at Vancouver-based VCC firm Minor Capital, co-founder of Satellogic Nano-Satellites, and co-founder of Cloudtel Communications. He studied Economics at the University of Waterloo and Philosophy and Political Science at UBC prior to completing post-graduate programs in Technology Studies at Singularity University and Financial Engineering at Stanford.
Landon Downs, President – Landon was a founding partner at Agentis Capital and Minor Capital. He has experience spanning from start-ups and early stage investing to mergers and acquisitions and advising on some of the largest public-private-partnership infrastructure transactions in Canada. Throughout his career he’s advised on deploying over $6Bn of capital. Landon received a Bachelor of Commerce degree from the University of Victoria, is a CFA Charterholder, and has completed Singularity University’s Executive Program
Dr. Phil Goddard, Head of Research – Phil is the President of Goddard Consulting. Formerly, he worked with The Mathworks as manager of the financial services practice within their North American consulting group and as a Senior Consultant and Application Engineer. He holds a PhD in Engineering from the University of Cambridge.
David Roberts, Board Chair – David is an M.I.T. and Harvard alumnus and award-winning CEO. He is a former Special Agent, decorated military officer, and career officer in the Executive Branch of the US Government. David has started ventures backed with over USD$100M of investment from groups such as KPCB, Khosla, Cisco, Oracle, and In-Q-Tel, and has led the development of technical systems including satellites, unmanned air vehicles, and analytical fusion centres.
Technical Team – 1QBit’s 46 researchers and developers hold over 90 university degrees in a wide variety of specialized areas including pure mathematics, graph theory, condensed matter physics, high-energy physics, discrete optimization, continuous optimization, computer engineering, and robust control system design.
2012 – Founded by two partners of Minor Capital VCC in an office above a local pub
2013 – Founders self funded until September 2013
2013 – Received MITACS funding
2013 – Raised seed round
2013 – Machine Access Agreement signed with D-wave
2013 – Filed first provisional patent  
2013 – Marcos Lopez de Prado joined 1QBit as head of Scientific Advisory Board
2014 – Team reached 20 members
2014 – CME Group’s venture arm makes a strategic investment and leads Series A financing
2014 – Team reached 30 members
2014 – Partnership with D-Wave Systems announced
2014 – Filed first patent
2014 – David Roberts joined 1QBit as Chairman of the Board
2014 – Blu Putnam appointed as CME’s Board Representative
2015 – Received first granted patent
2015 – Published collaborative research paper with NASA/USRA on Job shop scheduling
2015 – Recognized as a World Economic Forum Technology Pioneer
2015 – 1QBit teams scales to 40 with world-leading experts in fields of physics, maths and computer science
2015 – Royal Bank of Scotland strategic investment, leads financing round with CME Group’s venture arm
2016 – Partnered with Canadian High Commission to the UK’s Canadian Technology Accelerator in London
2016 – Introduction of interactive notebook for experimentation with quantum software development kit
2016 – Jointly launched quantumforquants.org community with D-Wave and world’s leading finance experts
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 frequently invited to present research at specialized conferences attended by experts from industries served by 1QBit’s software projects. 1QBit has been invited to participate in multiple WEF events, alongside high influence industry and government leaders, including the Annual General Meeting in Davos, where 1QBit spoke as a panelist on the topic of accelerating scientific breakthroughs and the future of innovation in Canada alongside Prime Minister Trudeau. 1QBit has enjoyed many headline and informal presentations and often co-presents with D-Wave Systems. Select speaking engagements include: JP Morgan’s Global Equities Quantitative Conference in London, Wired for Wonder in Sydney, APS annual meeting, Exponential Finance in NYC, and Impact Canada.  
D-Wave and 1QBit launch Quantum For Quants at Global Derivatives – Cantech Letter
Quantum Computing Welcome To The Future – Global Derivatives
Foreign Investment for Canadian High-Tech in Davos – The National Press
Quantum Computing and Wall Street – Bloomberg
CME Group on Investing in Tech Startups – Chicago Tribune
Bright Future for Quantum Computing Thanks to 1QBit – BetaKit
Vancouver based 1QBit looks to become the next software giant BC Business 
Amanda Downs
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