Quantum Shop Rigetti Computing Has Raised Over $71M In New Funding, Per SEC Filing

Full-stack quantum computing company Rigetti Computing is on the fundraising trail, according to an SEC filing submitted by the company on Friday.

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According to the filing, the company has raised a little over $71 million of a round aiming to raise up to $83.85 million in fresh capital for the company. Rigetti Computing disclosed in its filing that the total amount raised and the total offering amount includes approximately $23.85 million1 from the conversion of convertible securities into equity in the company.

The filing states that, so far, 65 investors contributed capital to the round, and that the company received its first capital commitment for the round on Feb. 18, 2020.

Tomer Diari, an investor with Bessemer Venture Partners, is a new addition to the company’s board. It’s typical for lead investors to take a board seat following a deal, so it’s likely that Bessemer is the lead investor in Rigetti’s latest round.

According to Crunchbase data, the company has raised nearly $120 million in prior funding. Rigetti’s last round was a $50 million Series B deal closed in November 2017.

Depending on whether the convertible securities mentioned in today’s filing were previously reported, the company has now raised between $166.7 million and $190.5 million, and it is authorized to raise $12.8 million more in this offering.

The company’s valuation and information about which investors participated in the deal have not been disclosed at this time. Previously disclosed investors include the likes of Streamlined Ventures, Andreessen Horowitz, DCVC, Vy Capital, Lux Capital and Y Combinator, among others.

Illustration: Li-Anne Dias