Quantum Computing Inc. Provides Quantum Consulting and Software to Quad M Solutions
Quantum Computing Inc. (QUBT) has announced its first customer for QCI Qonsulting, partnering with Quad M Solutions, Inc. (OTC: MMMM) to enhance underwriting services using quantum solutions. The collaboration aims to optimize health insurance underwriting applications for over 100,000 insured lives by the end of 2022, generating a monthly revenue stream for QCI. This partnership is expected to leverage QCI's Qatalyst™ software, which integrates classical and quantum computing to provide better insights for Quad M's staffing services.
- First customer revenue expected from partnership with Quad M.
- Monthly subscription model will generate recurring revenue.
- Potential to impact over 100,000 insured lives by 2022.
- Qatalyst™ software set to enhance underwriting capabilities.
- None.
Employee Staffing Company is First Customer for QCI Qonsulting
LEESBURG, Va., Jan. 19, 2022 (GLOBE NEWSWIRE) -- Quantum Computing Inc. (QCI) (Nasdaq: QUBT), a leader in unleashing the power of quantum computing for non-quantum experts, today announced its first customer for QCI Qonsulting. QCI will provide consulting and quantum-driven solutions to employee staffing solutions company Quad M Solutions, Inc. (Quad M) (OTC: MMMM).
Quad M offers staffing services and employee benefits such as self-funded health plans to small, mid-sized employers and PEO’s (professional employer organizations). QCI will deliver health insurance underwriting applications to Quad M for optimization of its underwriting services as a subscription with a monthly fee for every employee that avails themselves of Quad M’s health solution. Quad M expects to apply these applications to over 100,000 insured lives by the end of 2022.
“We are very pleased to announce Quad M as our initial industry customer for our consulting and quantum solutions, and are excited about partnering with the company in an industry that we believe is perfect for innovation,” said Robert Liscouski, CEO of QCI. “This is a landmark opportunity for QCI, which we expect to result in our first customer revenue, a residual monthly revenue stream and a scalable revenue model for QCI’s growth once implemented. We believe that Quad M’s insurance risk management applications represent a significant and innovative approach in how staffing vendors can apply quantum computing solutions across a variety of domains. With Qonsulting and ready-to-run quantum software, QCI is positioned to accelerate and enhance our clients’ exploration of their optimal path to quantum value.”
This collaboration will utilize QCI’s Qatalyst™ software to provide more accurate and diverse underwriting insights, leveraging quantum-ready classical, early NISQ, and eventually full-scale quantum computers. QCI will work with Quad M’s database of 100K employees to provide deeper insights that drive more robust underwriting solutions for Quad M. Once proven, Quad M and QCI will jointly market the product to other self-insured companies as well as medical insurance providers.
“QCI is the only company with software that allows us to set up an underwriting solution in a quantum way,” said Joseph Frontiere, CEO of Quad M Solutions, Inc. “It is agnostic to any quantum hardware or classical computer, thereby allowing us to use the present state-of-the-art technology to improve our underwriting process. The present state of quantum and super computers have reached the point where we felt that this will give us a technological competitive advantage in the staffing solutions industry.”
About Quantum Computing Inc.
Quantum Computing Inc. (QCI) (Nasdaq: QUBT) is focused on accelerating the value of quantum computing for real-world business solutions. The company’s flagship product, Qatalyst™, is the first software to bridge the power of classical and quantum computing, hiding complexity and empowering SMEs to solve complex computational problems today. QCI’s expert team in finance, computing, security, mathematics and physics has over a century of experience with complex technologies; from leading edge supercomputing innovations, to massively parallel programming, to the security that protects nations. Connect with QCI on LinkedIn and @QciQuantum on Twitter. For more information about QCI, visit www.quantumcomputinginc.com.
About Quad M Solutions, Inc.
Quad M Solutions, Inc. (OTCBB: MMMM) (Quad M) is a professional employer organization (PEO) and staffing company that provides comprehensive employer-controlled HR and payroll service, as well as workers compensation insurance, risk and compliance controls, COBRA, 401 K, reinsurance, health savings accounts, financial services, supplemental insurance, third party administrative services, employee healthcare insurance support, long-term care insurance support, and employee and employer retirement benefit services. For more information, visit quadmsolutions.com.
Important Cautions Regarding Forward-Looking Statements
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. Those statements include statements regarding the intent, belief or current expectations of Quantum Computing (“Company”), and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.
The Company undertakes no obligation to update or revise forward-looking statements to reflect changed conditions. Statements in this press release that are not descriptions of historical facts are forward-looking statements relating to future events, and as such all forward-looking statements are made pursuant to the Securities Litigation Reform Act of 1995. Statements may contain certain forward-looking statements pertaining to future anticipated or projected plans, performance and developments, as well as other statements relating to future operations and results. Any statements in this press release that are not statements of historical fact may be considered to be forward-looking statements. Words such as “may,” “will,” “expect,” “believe,” “anticipate,” “estimate,” “intends,” “goal,” “objective,” “seek,” “attempt,” “aim to,” or variations of these or similar words, identify forward-looking statements. These risks and uncertainties include, but are not limited to, those described in Item 1A in the Company’s Annual Report on Form 10-K, which is expressly incorporated herein by reference, and other factors as may periodically be described in the Company’s filings with the SEC.
Qatalyst™ is the trademark of Quantum Computing Inc. All other trademarks are the property of their respective owners.
Company Contact:
Robert Liscouski, CEO
Quantum Computing Inc.
+1 (703) 436-2161
Email Contact
Investor Relations Contact:
Ron Both or Grant Stude
CMA Investor Relations
+1 (949) 432-7566
Email Contact
Media Relations Contact:
Seth Menacker
Fusion Public Relations
+1 (201) 638-7561
qci@fusionpr.com
FAQ
What is the recent partnership involving Quantum Computing Inc. (QUBT)?
How many insured lives will Quad M apply QCI's solutions to by the end of 2022?
What is the revenue model for QCI's consulting services with Quad M?
What software will QCI use to provide underwriting insights to Quad M?
What competitive advantage does Quad M gain from QCI's quantum solutions?
