Q-CTRL, established in 2017, is a global leader in quantum technology development, aiming to deliver the optimum performance of global error-correcting and suppressing techniques. The company has recently announced its 27.4 million USD Series B-1 funding expansion led by its newest investor, Salesforce Ventures. The Series B additional investment will push Q-total CTRL’s Series B to more than 52 million USD.
“Q-CTRL’s technology stands head-and-shoulders above the rest of the industry in tackling the most foundational challenge in quantum computing. Q-CTRL’s products are essential for enterprise adoption of quantum computing, and their use of AI is delivering critical insights across hardware platforms that no one else can match. With their additional leadership in pioneering quantum sensors, we came to see Q-CTRL as one of the most consequential businesses in the sector for their ability to deliver value through quantum technology.”
Robert Keith, Managing Director, Salesforce Ventures.
Q-CTRL provides a unique capability to accelerate the pathway to the first useful quantum computers and sensors. Q-CTRL intends to use the funds to expand its globally leading technology and product engineering and increase sales and marketing capability. The startup expects to expand its staff from 80 to 120 people by 2023, with offices in Sydney, Los Angeles, and Berlin.
Impact on Quantum Industry: Education Included
Q-CTRL has over 8,000 users across its product line and has booked over $15 million in quantum computing and quantum sensing bookings in 2022. With some of the industry’s most robust revenue and a track record of excellent capital efficiency, the investment round will be expanded. Q-healthy CTRL’s financial reserves are being used to fund new strategic initiatives.
To reach as many people as possible, Q-CTRL has created the world’s leading tech platform for quantum computing, the system is known as the Black Opal, and the platform provides the ability to take anyone from zero to programming real quantum computers in minutes. Regardless of professional expertise, the straightforward and fully interactive platform makes it simple to browse and master quantum computing.
Q-CTRL welcomes its newest investors
Alumni Ventures, ICM Allectus, Mindrock Capital, former General Dynamics partner Bill Lightfoot, and global rugby star and Australian business leader John Eales are among the new investors, in addition to Salesforce Ventures. Airbus Ventures, Data Collective, Horizons, Main Sequence Ventures, and Ridgeline Partners remain active investors.
“Hiring teams of specialists can be risky and expensive. Q-CTRL’s frictionless quantum infrastructure
Heather West, IDC Research Manager.
software has a shallow learning curve and allows CIOs and CTOs to become quantum ready today reducing enterprise risk.
Q-CTRL anticipates that with its software, enterprises will be able to leverage the skills of their current IT developers to easily develop, optimize, and execute quantum algorithms, and obtain high levels of performance on any given hardware at a low net cost.”
Q-CTRL is a category-defining company in quantum infrastructure software to make quantum computers useful to enterprise clients sooner.
Since 2018, Q-CTRL has been an inaugural member of the IBM Quantum Startup network. It has recently announced relationships with quantum industry partner Classiq and end-users Xerox PARC, Capgemini, and Transport for NSW. International headquarters are located in Sydney, Los Angeles, and Berlin.
“Our technical and product achievements are exceptional, and it’s thrilling to see such broad adoption of our products from some of the largest and most important technical and enterprise customers. With the world’s largest team of experts in quantum control and error suppression, we’ve established ourselves as the leading provider of some of the most important technology in this sector. Today’s additional validation from the investor community – especially while capital raises have been difficult to assemble – is a huge boost for our mission and ambition to truly make quantum technology useful.”
Michael J. Biercuk, Q-CTRL CEO AND FOUNDER