New Capital Injection of USD $59M at Increased Valuation Signals Strength of Q-CTRL Technology in Quantum Sector and Accelerated Timelines to Quantum Advantage.
Sydney, Australia – October 8, 2024 – Q-CTRL, the global leader in quantum infrastructure software, today announced the successful expansion of its Series B Funding Round to USD $113M (AUD $166M), with USD $59M of new capital. The Series B-2 all-equity funding round was led by global late-stage venture firm GP Bullhound and saw a dramatic increase in valuation from earlier financing. This represents the largest aggregate Series B for a quantum software company to date.
“We’re very excited that GP Bullhound has led this round,” said Q-CTRL CEO and Founder Michael J. Biercuk. “Their experience and international presence will support us as we continue our expansion, and we look forward to working closely with them as a shareholder and board member.”