Rigetti Says $79 Million Series C Funding Brings Company One Step Closer to Delivering Quantum Advantage
(TechCrunch)Rigetti Computing, the quantum computing startup that is challenging industry heavyweights like IBM, Microsoft and D-Wave, announced this week that it has closed a $79 million Series C funding round.
“This round of financing brings us one step closer to delivering quantum advantage to the market,” said Rigetti founder and CEO Chad Rigetti. “The company is dually focused on building scalable, error-corrected quantum computers and supporting high-performance access to current systems over the cloud. Rigetti offers a distinctive hybrid computing access model designed for practical applications.”
“It’s hard to find an area where quantum computing won’t be tremendously valuable once quantum advantage is achieved,” said Jonathan Curtis, vice president and portfolio manager at Franklin Equity Group. “We believe that Rigetti is one of a select few leaders in this important emerging market with a strong combination of leading technology, an accomplished and focused team, and important commercial, government and go-to-market relationships.”
The round was led by Bessemer Venture Partners, with participation from Franklin Templeton, Alumni Ventures Group, DCVC, EDBI, Morpheus Ventures and Northgate Capital.
Bessemer’s Tomer Diari and Veritas Software’s former CEO Mark Leslie will join the company’s board of directors.