# Strangeworks

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/strangeworks

- Industry: Software
- Headquarters: Austin, US
- Website: www.strangeworks.com
- Total disclosed funding: $28M
- Latest round: Series A (Mar 21, 2023)
- Investors on record: 11

## About

Based in the US, Strangeworks, Inc. operates at the intersection of quantum computing and artificial intelligence, providing innovative solutions that empower organizations to tackle complex challenges through advanced technology.Strangeworks, Inc. is a technology company focused on quantum computing founded in 2018 in Austin, US. The company was established by Justin Youens and Whurley Hurley, with Whurley Hurley serving as the CEO. Strangeworks has raised a total of USD 9.25 mn in funding, with its most recent investment round being a Series A led by Hitachi Ventures on July 18, 2024. The company has actively engaged in 4 deals to date, enhancing its position in the market and expanding its technological capabilities.Strangeworks offers a comprehensive suite of products and services focused on enabling organizations to leverage quantum computing technologies. Their core offerings include advanced software platforms that facilitate research, formulation, execution, and analysis of complex problems using natural language processing. These solutions are specifically designed to bridge the gap between sophisticated quantum and future computing methods and users lacking the necessary scientific expertise. Strangeworks serves a diverse clientele, including research institutions, educational organizations, and enterprise clients across various industries, aiming to solve challenges in fields such as pharmaceuticals, finance, and materials science. Their products are making strides in geographical markets including North America, Europe, and parts of Asia, positioning users at the forefront of technological advancements in quantum computing.Strangeworks generates revenue through a business model that encompasses partnerships and subscription services tailored for B2B engagements. Clients engage with the company to access its innovative software platform and related services, typically structured around recurring subscription fees that provide ongoing access to pre-release features and advancements in quantum technology. Additionally, the company may enter into strategic partnerships with educational institutions and research organizations, further enhancing its service offerings and reach. The pricing structures for these services are designed to cater to a range of organizational sizes and needs, ensuring that both large enterprises and smaller institutions can benefit from Strangeworks' expertise and solutions in quantum computing.Strangeworks plans to leverage recent funding from its Series A round to expand its global outreach by bringing Japan's innovative technology to the international market. The company is actively designing new products and is expected to launch these solutions within the next year. Strangeworks is specifically targeting markets in Asia and Europe for expansion, aiming for significant growth by mid-2025. The funding from the latest round will primarily support these initiatives, enhancing their product development and market entry strategies.

## Funding rounds

- Series A, Mar 21, 2023, $9.3M — Lightspeed Venture Partners, GreatPoint Ventures, IBM, Ecliptic Capital, Hitachi Ventures, RTX Corporation
- Series A, Dec 5, 2022, $15M — Lightspeed Venture Partners, In-Q-Tel, IBM, Hitachi Ventures, Ultratech Capital Partners, RTX Corporation
- Seed, Jun 12, 2018, $4M — Lightspeed Venture Partners, Lux Capital, GreatPoint Ventures, BoxGroup, Amplify Partners, Ecliptic Capital

## Investors

- Lightspeed Venture Partners (https://capitalatlas.ai/funds/lightspeed-venture-partners) — Seed, Series A
- Lux Capital (https://capitalatlas.ai/funds/lux-capital) — Seed
- GreatPoint Ventures (https://capitalatlas.ai/funds/greatpoint-ventures) — Seed, Series A
- BoxGroup (https://capitalatlas.ai/funds/boxgroup) — Seed
- Amplify Partners (https://capitalatlas.ai/funds/amplify-partners) — Seed
- Ecliptic Capital (https://capitalatlas.ai/funds/ecliptic-capital) — Seed, Series A
- In-Q-Tel (https://capitalatlas.ai/funds/in-q-tel) — Series A
- IBM — Series A
- Hitachi Ventures (https://capitalatlas.ai/funds/hitachi-ventures) — Series A
- Ultratech Capital Partners (https://capitalatlas.ai/funds/ultratech-capital-partners) — Series A
- RTX Corporation — Series A