Riverlane to expand globally and hire fast after $75m Series C

New jobs are already being advertised by the business which is already growing from Cambridge UK and Boston in the US but could now establish a presence in other key territories.

Its expansion is well timed to meet surging global market demand for QEC technology with the goal of achieving one million error-free quantum computer operations by 2026.

The Series C was led by Planet First Partners, a European growth equity sustainable investment platform, with participation from sustainability venture capital investors ETF Partners and Singapore-based global investor, EDBI.

Existing backers Cambridge Innovation Capital, Amadeus Capital Partners, the UK's National Security Strategic Investment Fund and HPC leader Altair also participated.

Demand for quantum error correction technology has soared in the past year. Driven by a series of technical breakthroughs, improvements in qubit quality and a global shift towards building error-corrected quantum systems, the quantum computing industry is now looking beyond today’s small, error-prone machines to a new generation of ‘fault-tolerant’ quantum computers with integrated QEC technology.

Riverlane founder and CEO, Steve Brierley, said: “Quantum error correction is the critical enabler for the industry’s next huge wave of progress, from today’s small error-prone machines to large and reliable quantum computers that will start a new age of human progress as significant as the digital revolution.

“Our partners recognise the value in working with Riverlane to deliver a solution that fits their needs – we are building the right product at the right time to seize this opportunity.”

Riverlane has built the world’s largest dedicated quantum error correction team with close to a hundred interdisciplinary experts working on its core product, Deltaflow ™.

Applicable to quantum computers using all major qubit types, Deltaflow ™ comprises proprietary QEC chips, hardware and software technologies working in unison to correct billions of errors per second.

Today’s best quantum computers can perform only a few hundred quantum operations before failure. Deltaflow ™ will help this increase to millions and, ultimately, trillions of error-free quantum operations. Achieving this scale will unlock transformative applications in industries such as pharmaceuticals, chemicals, material science and transportation.

Nathan Medlock, Managing Partner at Planet First Partners, said: “We invest in companies with the potential to have a transformative impact on society and the environment.

“Riverlane’s focus on quantum error correction, coupled with its collaboration with quantum computer makers worldwide, can accelerate the global market and enable new quantum computing applications that can substantially contribute to solving social and environmental issues.”

Hermann Hauser, Co-founder and Venture Partner, Amadeus Capital Partners, added: “The creation of a common chip architecture solved the defining technology challenge of a new computing paradigm. Riverlane is doing the same in quantum computing. Its QEC chip and stack technology can accelerate the whole industry.”

Published earlier this month, Riverlane’s roadmap lays out a development path to one million (Mega) error-free quantum computer operations (QuOps) as early as the end of 2026.

It details a series of product releases, each incorporating significant scientific and technical breakthroughs toward this goal.

Riverlane partners with leading quantum computing companies and government bodies, including Rigetti Computing, Alice & Bob, QuEra Computing, Infleqtion, Atlantic Quantum and national labs such as Oakridge National Lab in the US and the UK’s National Quantum Computing Centre (NǪCC).

With this investment, Riverlane plans to expand its operations to meet growing demand from other hardware companies and governments worldwide.

The expansion of Riverlane’s operations will introduce various new opportunities across the company, such as hardware and software engineering, quantum scientist positions and operations roles. Riverlane’s current vacancies can be found at https://www.riverlane.com/jobs

• Photograph – from left: Earl Campbell (VP Quantum Science), Rebecca Simmons (Chief Operating Officer), Marco Ghibaudi (VP Engineering), Steve Brierley (Founder & CEO), Glenn Manoff (Chief Marketing Officer), Maria Maragkou (VP Product & Partnerships). Credit – Riverlane.