Q-CTRL raises $27.4 mn led by Salesforce Ventures

Q-CTRL, a developer of quantum infrastructure software, has raised $27.4 million in Series B-1 VC funding round, with participation from Salesforce Ventures.
VC funding for tech
This Series B extension brings Q-CTRL’s total Series B raise to over $52 million, the largest among quantum software companies, according to Pitchbook data.

Q-CTRL plans to use the funding to lead in technology and product engineering and invest in sales and marketing capacity. The company anticipates growing its team from 80 to approximately 120 in 2023 across offices in Sydney, Los Angeles and Berlin.

Sydney-based Q-CTRL has over 8,000 users across its product portfolio and achieved over $15 million in bookings between its quantum computing and quantum sensing divisions in 2022.

Q-CTRL works with both quantum computer hardware and software makers, including IBM, IONQ and Classiq.

In addition to Salesforce Ventures, new investors include Alumni Ventures, ICM Allectus, Mindrock Capital, former General Dynamics Vice President Bill Lightfoot, and global rugby legend and Australian business leader John Eales. Continuing investors include Airbus Ventures, Data Collective, Horizons, Main Sequence Ventures, and Ridgeline Partners.

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