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SandboxAQ Valuation, Funding & Investors
SandboxAQ is valued at $5.8B as of April 2025.
Last SandboxAQ valuation
$5.8B
Series E · Apr 2025
Last SandboxAQ funding round
$150M
Series E · Apr 2025
Cumulative funding SandboxAQ raised
$950M
across 3 funding rounds
Key investors in SandboxAQ
T. Rowe Price
Breyer Capital
Eric Schmidt
Parkway Venture Capital
IQT
S32
About SandboxAQ
SandboxAQ is a Palo Alto-headquartered company developing AI and quantum-inspired computing applications. Spun out from Alphabet in 2022, it serves financial services, cybersecurity, healthcare, and telecom sectors with products like AQNav for GPS-denied navigation and Quantum AI for molecular simulations. SandboxAQ's Large Quantitative Models analyze vast datasets for drug discovery and fraud detection. Backed by $500 million from investors including NVIDIA and Bank of America, the firm employs over 200 researchers from CERN and Google.
Founded
2016
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$5.8B (Apr 2025)
SandboxAQ Valuation
SandboxAQ is currently valued at $5.8B, based on its Series E in April 2025.
The $150M round was led by Eric Schmidt Angel Investments.
SandboxAQ's valuation has grown 1.4x from $4B at its Series D in March 2022 to $5.8B in April 2025, across 3 priced rounds.
SandboxAQ valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Apr 2025 | Series E | $5.8B |
| Dec 2024 | Series E | $5.3B |
| Mar 2022 | Series D | $4B |
SandboxAQ Funding History
SandboxAQ has raised a total of $950M across 3 funding rounds.
SandboxAQ's first fundraising round was a $500M Series D in March 2022. The most recent completed round was a $150M Series E in April 2025.
SandboxAQ funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Apr 2025 | Series E | Eric Schmidt Angel Investments (lead) | $150M | $5.8B | SandboxAQ, founded in 2016 within Alphabet and spun out as an independent company in 2022, develops enterprise solutions at the intersection of AI and quantum computing, including Large Quantitative Models (LQMs) for applications in biopharma, chemistry, materials science, cybersecurity, financial services, drug discovery, and navigation. The company targets complex scientific and quantitative challenges with AI-driven platforms that surpass limitations of traditional large language models. This round featured an expanded investor base including new participants Google, NVIDIA, Ray Dalio, Horizon Kinetics, and BNP Paribas, alongside existing backers such as Eric Schmidt, Breyer Capital, T. Rowe Price, Marc Benioff, and others. Total funding since spinout exceeds $950 million. These funds support acceleration of LQM application development and adoption across enterprise sectors. SandboxAQ has attracted high-profile strategic investors reflecting confidence in quantum-AI commercialization, positioning it as a unicorn with rapid valuation growth. The company serves global enterprises in critical industries, with endorsements from figures like Ray Dalio highlighting its technical approach and market potential. |
| Dec 2024 | Series E | Rizvi Traverse Management; Breyer Capital; Ava Investors; Alger; Mumtalakat; T. Rowe Price; Eric Schmidt; Shane Neman; Parkway Venture Capital; Marc Benioff; IQT; David Siegel | $300M | $5.3B | SandboxAQ, an Alphabet spinoff founded by Jack Hidary, is a B2B enterprise SaaS company delivering AI and quantum-powered solutions, including Large Quantitative Models (LQMs) for complex challenges in drug discovery, materials science, cybersecurity, aerospace, energy, finance, biopharma, chemicals, defense, healthcare, navigation, and life sciences. The company emerged independently in 2022 after a $500 million growth round and now offers products like AQtive Guard for cryptographic management and quantum threat protection. On December 18, 2024, SandboxAQ raised over $300 million in a funding round from investors including Fred Alger Management, T. Rowe Price Associates, Ava Investors, Breyer Capital, David Siegel, Eric Schmidt, IQT, Marc Benioff, Mumtalakat, Parkway Venture Capital, Rizvi Traverse Management, and Shane Neman, among others. The round valued the company at $5.3 billion pre-money, with some reports citing over $5.6 billion overall; proceeds will accelerate LQM development and AI applications across industries. SandboxAQ reports strong 2024 traction with customers in multiple sectors and high-impact research output, positioning LQMs as complementary to LLMs for B2B science and business problems. CEO Jack Hidary highlighted the funding's role in scaling impact, while Chairman Eric Schmidt emphasized advancing beyond LLMs. The total raised now exceeds $800 million, underscoring investor confidence in its AI-quantum intersection. |
| Mar 2022 | Series D | Breyer Capital; Ignacio Vilela; Guggenheim Taxable; S32; T. Rowe Price; Eric Schmidt; First Light Capital; Thomas Tull; Time Ventures; Parkway Venture Capital; Paladin Capital Group | $500M | $4B | SandboxAQ, spun out from Alphabet in March 2022, is an enterprise SaaS company developing AI and quantum software solutions, including Large Quantitative Models (LQMs) grounded in physics, chemistry, biology, and mathematics to address challenges in drug discovery, materials science, cybersecurity, navigation, and diagnostics. The company launched on March 22, 2022, with a $500 million Series D funding round featuring investors including T. Rowe Price, Eric Schmidt, Breyer Capital, Guggenheim Partners (referred to as Guggenheim Taxable), Thomas Tull, and others matching the query such as Paladin Capital Group and Parkway Venture Capital, aimed at supporting initial growth and development post-spin-off. Eric Schmidt was named chairman of the board, with early customers including Vodafone Business, Mt. Sinai Health System, and Wix. The 2022 launch marked SandboxAQ's independence, leveraging Alphabet-era research to commercialize quantum-inspired AI tools. Total funding has grown to nearly $1 billion across multiple rounds, including a $95 million secondary offering in 2025 for employee liquidity and additional primary capital from backers like Google, NVIDIA, and Ray Dalio. Unlike later rounds where valuations reached $5.6 billion in December 2024 Series E ($300 million raised) and around $5.75 billion in an April 2025 round (over $450 million raised). SandboxAQ delivers its solutions via cloud platforms like Google Cloud through software subscriptions with monthly or annual fees plus usage-based computing charges, targeting enterprises in biopharma, aerospace, finance, defense, and energy. The company has achieved unicorn status and rapid valuation growth within three years, reflecting investor confidence in quantum-AI commercialization amid a market shifting toward physics-based models over probabilistic AI. |
Who has invested in SandboxAQ?
20 investors have backed SandboxAQ across its funding rounds, including T. Rowe Price, Breyer Capital, Eric Schmidt, Parkway Venture Capital, IQT and S32.
Lead investors include Eric Schmidt Angel Investments.
SandboxAQ Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Participant | Mar 2022 | ||
| 2 | Participant | Mar 2022 | ||
| 2 | Participant | Mar 2022 | ||
| 2 | Participant | Mar 2022 | ||
| 1 | Participant | Dec 2024 | ||
| 1 | Participant | Dec 2024 | ||
| 1 | Participant | Dec 2024 | ||
| 1 | Lead | Apr 2025 | ||
| 1 | Participant | Mar 2022 | ||
| 1 | Participant | Dec 2024 | ||
| 1 | Participant | Mar 2022 | ||
| 1 | Participant | Mar 2022 | ||
| 1 | Participant | Mar 2022 | ||
This data is available for Pro users. Sign up to see all 20 SandboxAQ investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by SandboxAQ
SandboxAQ has acquired 2 companies to date.
Last acquisition by SandboxAQ was on January 9th 2024. SandboxAQ acquired Good Chemistry for $75M.
Latest Acquisitions by SandboxAQ
| Description | Good Chemistry is a computational chemistry software provider that accelerates material discovery for healthier and more sustainable products. The company delivers QEMIST Cloud, a platform integrating quantum chemistry algorithms, machine learning models, and quantum computing tools to support developers in building simulation applications and workflows. Headquartered in the United States, Good Chemistry serves research teams in pharmaceuticals, materials science, and energy sectors by enabling faster design of novel compounds and reducing reliance on physical lab testing. | Cryptosense is a cryptography security firm offering CS Analyzer to detect vulnerabilities in software implementations. The tool scans for weak algorithms like MD5 and misconfigurations in TLS setups. Paris-headquartered since 2014, it serves banks, payment processors, and hardware makers such as Thales and Gemalto. Partnerships with INRIA update detection rules quarterly. |
| HQ Country | ||
| HQ City | Vancouver | Paris |
| Deal Date | 9 Jan 2024 | 14 Sep 2022 |
| Valuation | $75M | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all SandboxAQ acquisitions and their M&A valuation multiples. Start Free Trial | ||
Investments by SandboxAQ
SandboxAQ has invested in 2 companies to date.
Latest investment by SandboxAQ was on October 5th 2022. SandboxAQ invested in Qunnect in their $8M Series A round.
Latest Investments by SandboxAQ
| Description | Qunnect is a New York-headquartered quantum networking company spun off from Stony Brook University. It engineers photon-based quantum repeaters using rubidium atoms for memory and diamond sources for entanglement. The technology targets quantum internet infrastructure with deployments tested in metropolitan fiber networks. | evolutionQ is an Ottawa-headquartered firm specializing in quantum-resistant encryption solutions. Its Qango platform enables enterprises to transition networks to post-quantum cryptography standards. The company offers managed quantum key distribution services and advisory for sectors including finance and government, with deployments in Canada and partnerships with BlackBerry QNX. |
| HQ Country | ||
| HQ City | New York City, NY | Waterloo |
| Deal Date | 5 Oct 2022 | 13 Jun 2022 |
| Round | Series A | Series A |
| Raised | $8M | $6M |
| Investors | Airbus Ventures; Quantonation; Impact Science Ventures; New York Ventures; Motus Ventures | Quantonation; The Group Ventures |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all SandboxAQ investments and their VC round multiples. Start Free Trial | ||
SandboxAQ Competitors
SandboxAQ competitors include listed companies like Presight AI and Haizhi, and private ones like Legora, Ineffable Intelligence, Recursive Superintelligence and Fal.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $825M | $214M | $5.7B | 5.4x | ||
| Private | $100M | - | $5.6B | 56.0x | ||
| Private | - | - | $5.1B | - | ||
| Private | - | - | $4.7B | - | ||
| Private | $200M | - | $4.5B | 22.5x | ||
| Publicly listed | $93M | ($30M) | $2.1B | 16.3x |
SandboxAQ Public Comps
SandboxAQ is still privately-owned, but its public comps include Presight AI, SenseTime Group, UiPath, Tenable, XtalPi, CorVel, Fermi, Infleqtion, Shenzhen Intellifusion and SoundHound.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $825M | $214M | 6.3x | 5.4x | 24.4x | 20.8x | |||
| $748M | ($70M) | 6.9x | 5.8x | (73.5x) | 113.7x | |||
| $1.6B | $70M | 3.7x | 3.5x | 85.8x | 13.7x | |||
| $999M | $31M | 4.1x | 3.9x | 129.9x | 15.3x | |||
| $120M | $22M | 24.8x | 21.5x | 134.0x | (141.6x) | |||
| $959M | $175M | 3.5x | - | 19.1x | - | |||
| - | ($490M) | - | 281.8x | (7.5x) | (63.2x) | |||
| $29M | ($52M) | 92.3x | 64.5x | (50.9x) | (60.0x) | |||
This data is available for Pro users. Sign up to see all SandboxAQ competitors and their valuation data. Start Free Trial | ||||||||
Common questions about SandboxAQ
| When was SandboxAQ founded? | SandboxAQ was founded in 2016. |
| Where is SandboxAQ headquartered? | SandboxAQ is headquartered in San Francisco, CA, United States. |
| Is SandboxAQ publicly listed? | No, SandboxAQ is a private, VC-backed company. |
| What is SandboxAQ's valuation? | SandboxAQ was last valued at $5.8B in its Series E in April 2025. |
| How much funding has SandboxAQ raised? | SandboxAQ has raised $950M across 3 funding rounds. |
| What was SandboxAQ's last funding round? | SandboxAQ's last funding round was a $150M Series E in April 2025, led by Eric Schmidt Angel Investments. |
| Who are SandboxAQ's investors? | SandboxAQ's investors include Breyer Capital, T. Rowe Price, Eric Schmidt, Parkway Venture Capital, Rizvi Traverse Management, Ava Investors, Alger, Eric Schmidt Angel Investments, Ignacio Vilela, Mumtalakat and 10 others. |
| Which companies are comparable to SandboxAQ? | Companies comparable to SandboxAQ include Presight AI, Legora, Ineffable Intelligence, Recursive Superintelligence, Fal and Haizhi. |
| How many companies has SandboxAQ acquired? | SandboxAQ has acquired 2 companies, including Good Chemistry and Cryptosense. |
| What was the largest acquisition by SandboxAQ? | The $75M acquisition of Good Chemistry in January 2024 is the largest acquisition SandboxAQ has made to date. |
| How many companies has SandboxAQ invested in? | SandboxAQ has invested in 2 companies, including Qunnect and evolutionQ. |
| What was SandboxAQ's last investment? | In October 2022, SandboxAQ invested in Qunnect's $8M Series A alongside Airbus Ventures, Quantonation, Impact Science Ventures and 2 other investors. |
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