Funding round
PsiQuantum Series C
PsiQuantum, which works in fault-tolerant quantum computing system deployment in Palo Alto, raised $230M in a Series C round announced on 1 Nov 2019, led by M12. 6 firms took part. It is PsiQuantum's third venture round on record; the one before was a Series B in Sep 2017.
$230M
Amount raised
Not disclosed
Post-money valuation
6
Investors
1 lead
Valuation
What this round says about the price
PsiQuantum did not disclose a valuation in this round. It came 26 months after PsiQuantum's Series B. It is 9.8% of the $2.35B PsiQuantum has raised in the venture rounds on record. PsiQuantum raised again 20 months later: a Series D round of $450M in Jul 2021, at $3.15B post-money.
PsiQuantum's funding rounds
PsiQuantum has 6 venture rounds on record and 2 other deals. This one is highlighted.
- Series A 1 Jun 2016, led by Playground $14M
- Series B 1 Sep 2017, led by Founders Fund $50M
- Series C this round 1 Nov 2019, led by M12 $230M
- Series D 27 Jul 2021, led by BlackRock $450M$3.15B post-money
- Growth 1 Apr 2024, led by QIC $610M
- Other not a venture round 30 May 2025, led by BlackRock $22M
- Series E 1 Sep 2025, led by BlackRock, Temasek and Baillie Gifford $1.00B$7.00B post-money
- Grant not a venture round 27 Jul 2026 $125M
Investors
Who put money in
M12 led the round with 5 other firms.
Lead investor
- M12 backs 141 venture-backed companies new investor
Also in the round
- Atomico backs 123 venture-backed companies new investor
- Founders Fund backs 368 venture-backed companies new investor
- Redpoint Ventures backs 194 venture-backed companies new investor
- backs 51 venture-backed companies new investor
- BlackRock new investor
Comparable rounds
How it compares
The closest in time: Series C rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Picnic Groceries | 28 Nov 2019 | $250M | not disclosed | not named |
| Ualá Financial Services | 25 Nov 2019 | $150M | not disclosed | Tencent and SoftBank Innovation Fund |
| Tech Companies | 19 Nov 2019 | $135M | not disclosed | Sutter Hill Ventures and Altimeter |
| Telecommunications | 18 Nov 2019 | $85M | not disclosed | not named |
| Investment Consultants & Financial Advisors | 21 Nov 2019 | $75M | not disclosed | Redpoint Ventures |
| Octane Loans & Financing | 1 Nov 2019 | $70M | $400M | Valar Ventures |
| Workato Tech Companies | 11 Nov 2019 | $70M | not disclosed | Redpoint Ventures |
| Tech Companies | 20 Nov 2019 | $65M | not disclosed | FTV Management Company |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did PsiQuantum raise in its Series C round?
PsiQuantum raised $230M in its Series C round, announced in Nov 2019.
Who led PsiQuantum's Series C round?
M12 led it, with Atomico, Founders Fund, Redpoint Ventures, Playground and BlackRock.
What was PsiQuantum's valuation at the Series C round?
It was not disclosed.
Did PsiQuantum raise again after this round?
Yes: a Series D round in Jul 2021 of $450M at $3.15B post-money.