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Hear how to build a billion-dollar SaaS company at TechCrunch Disrupt

There was a time when brick-and-mortar mom and pops framed their first $1 on the wall, but in the SaaS startup the equivalent milestone is $1 billion revenue run-rate.

Salesforce is the SaaS revenue king reporting $4 billion in revenue for its most recent quarterly report, and there are many other relatively new SaaS companies, such as WorkDay, ServiceNow and Atlassian, that have broken the $1 billion barrier.

This year at TechCrunch Disrupt (tickets here!), we welcome three people to the Extra Crunch stage who know first hand what it takes to join the billion dollar club.

Neeraj Agrawal, a partner at Battery Ventures and seasoned enterprise investor, presented his growth thesis in a widely read article for TechCrunch where he outlined the key milestones for a SaaS company to reach a billion dollars.

Whitney Bouck is COO at HelloSign, a startup that was sold to Dropbox in 2018 for $230 million. Bouck was also an executive at Box, guiding their enterprise business from 2011-2015. Prior to that she was at Documentum, which exited in 2003 to EMC for $1.7 billion.

Jyoti Bansal is currently co-founder & CEO of Harness. Previously, he was founder & CEO of AppDynamics, which Cisco acquired in 2017 for $3.7 billion. Bansal is also an investor as co-founder of venture capital firm Unusual Ventures.

The goal of this panel is to help you understand the tools and strategies that go into ramping to a billion in revenue and beyond. It requires a rare combination of good idea, product-market fit, culture and commitment. It also requires figuring out how to evolve the core idea and recover from inevitable mistakes — all while selling investors on your vision.

We’re amped for this conversation, and we can’t wait to see you there! Buy tickets to Disrupt SF here at an early-bird rate!

Did you know Extra Crunch annual members get 20% off all TechCrunch event tickets? Head over here to get your annual pass, and then email extracrunch@techcrunch.com to get your 20% discount. Please note that it can take up to 24 hours to issue the discount code.

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Ten questions for 2020 presidential candidate John Delaney

In November 2020, America will go to the polls to vote in perhaps the most consequential election in a generation. The winner will lead the country amid great social, economic and ecological unrest. The 2020 election will be a referendum on both the current White House and the direction of the country at large.

Nearly 20 years into the young century, technology has become a pervasive element in all of our lives, and will continue to only grow more important. Whoever takes the oath of office in January 2021 will have to answer some difficult questions, raging from an impending climate disaster to concerns about job loss at the hands of robotics and automation.

Many of these questions are overlooked in day to day coverage of candidates and during debates. In order to better address the issues, TechCrunch staff has compiled a 10-part questionnaire across a wide range of tech-centric topics. The questions have been sent to national candidates, regardless of party. We will be publishing the answers as we receive them. Candidates are not required to answer all 10 in order for us to publish, but we will be noting which answers have been left blank.

First up is former Congressman John Delaney. Prior to being elected to Maryland’s 6th Congressional District, Delaney co-founded and led healthcare loan service Health Care Financial Partners (HCFP) and  commercial lender CapitalSource. He was elected to Congress in 2013, beating out a 10-term Republican incumbent. Rumored to be running against Maryland governor Larry Hogan for a 2018 bid, Delaney instead announced plans to run for president in 2020.

1. Which initiatives will you prioritize to limit humankind’s impact on climate and avoid potential climate catastrophe?

My $4 trillion Climate Plan will enable us to reach the goal of net zero emissions by 2050, which the IPCC says is the necessary target to avoid the worst effects of climate change. The centerpiece of my plan is a carbon-fee-and-dividend that will put a price on carbon emissions and return the money to the American people through a dividend. My plan also includes increased federal funding for renewable energy research, advanced nuclear technologies, direct air capture, a new Climate Corps program, and the construction of the Carbon Throughway, which would transport captured carbon from all over the country to the Permian Basin for reuse and permanent sequestration.

2. What is your plan to increase black and Latinx startup founders’ access to funding?

As a former entrepreneur who started two companies that went on to be publicly traded, I am a firm believer in the importance of entrepreneurship. To ensure people from all backgrounds have the support they need to start a new business, I will create nonprofit banks to serve economically distressed communities, launch a new SBIC program to help provide access to capital to minority entrepreneurs, and create a grant program to fund business incubators and accelerators at HBCUs. Additionally, I pledge to appoint an Entrepreneurship Czar who will be responsible for promoting entrepreneurship-friendly policies at all levels of government and encouraging entrepreneurship in rural and urban communities that have been left behind by venture capital investment.

3. Why do you think low-income students are underrepresented in STEM fields and how do you think the government can help fix that problem?

I think a major part of the problem is that schools serving low-income communities don’t have the resources they need to provide a quality STEM education to every student. To fix that, I have an education plan that will increase investment in STEM education and use Title I funding to eliminate the $23 billion annual funding gap between predominantly white and predominantly black school districts. To encourage students to continue their education after they graduate from high school and ensure every student learns the skills they need, my plan also provides two years of free in-state tuition and fees at a public university, community college, or technical school to everyone who completes one year of my mandatory national service program.

4. Do you plan on backing and rolling out paper-only ballots or paper-verified election machines? With many stakeholders in the private sector and the government, how do you aim to coordinate and achieve that?

Making sure that our elections are secure is vital, and I think using voting machines that create a voter-verified paper record could improve security and increase voters’ confidence in the integrity of our elections. To address other facets of the election security issue, I have proposed creating a Department of Cybersecurity to help protect our election systems, and while in Congress I introduced election security legislation to ensure that election vendors are solely owned and controlled by American citizens.

5. What, if any, federal regulation should be enacted for autonomous vehicles?

I was proud to be the founder of the Congressional Artificial Intelligence Caucus, a bipartisan group of lawmakers dedicated to understanding the impacts of advances in AI technology and educating other legislators so they have the knowledge they need to enact policies that ensure these innovations benefit Americans. We need to use the legislative process to have a real conversation involving experts and other stakeholders in order to develop a comprehensive set of regulations regarding autonomous vehicles, which should include standards that address data collection practices and other privacy issues as well as more fundamental questions about public safety.

6. How do you plan to achieve and maintain U.S. superiority in space, both in government programs and private industry?

Space exploration is tremendously important to me as a former Congressman from Maryland, the home of NASA’s Goddard Space Flight Center, major space research centers at the University of Maryland, and many companies that develop crucial aerospace technologies. As president, I will support the NASA budget and will continue to encourage innovation in the private sector.

7. Increased capital in startups founded by American entrepreneurs is a net positive, but should the U.S. allow its businesses to be part-owned by foreign governments, particularly the government of Saudi Arabia?

I am concerned that joint ventures between U.S. businesses and foreign governments, including state-owned enterprises, could facilitate the theft of intellectual property, potentially allowing foreign governments to benefit from taxpayer-funded research. We need to put in place greater protections that defend American innovation from theft.

8. Will U.S.-China technology decoupling harm or benefit U.S. innovation and why?

In general, I am in favor of international technology cooperation but in the case of China, it engages in predatory economic behavior and disregards international rules. Intellectual property theft has become a big problem for American businesses as China allows its companies to steal IP through joint ventures. In theory, U.S.-China collaboration could advance technology and innovation but without proper IP and economic protections, U.S.-China joint ventures and partnerships can be detrimental to the U.S.

9. How large a threat does automation represent to American jobs? Do you have a plan to help train low-skilled workers and otherwise offset job loss?

Automation could lead to the disruption of up to 54 million American jobs if we aren’t prepared and we don’t have the right policies. To help American workers transition to the high-tech, high-skill future economy, I am calling for a national AI strategy that will support public/private AI partnerships, develop a social contract with the communities that are negatively impacted by technology and globalization, and create updated education and job training programs that will help students and those currently in the workforce learn the skills they need.

To help provide jobs to displaced workers and drive economic growth in communities that suffer negative effects from automation, I have proposed a $2 trillion infrastructure plan that would create an infrastructure bank to facilitate state and local government investment, increase the Highway Trust Fund, create a Climate Infrastructure Fund, and create five new matching funds to support water infrastructure, school infrastructure, deferred maintenance projects, rural broadband, and infrastructure projects in disadvantaged communities in urban and rural areas. In addition, my proposed national service program will create new opportunities that allow young adults to learn new skills and gain valuable work experience. For example, my proposal includes a new national infrastructure apprenticeship program that will award a professional certificate proving mastery of particular skill sets for those who complete the program.

10. What steps will you take to restore net neutrality and assure internet users that their traffic and data are safe from manipulation by broadband providers?

I support the Save Net Neutrality Act to restore net neutrality, and I will appoint FCC commissioners who are committed to maintaining a fair and open internet. Additionally, I would work with Congress to update our digital privacy laws and regulations to protect consumers, especially children, from their data being collected without consent.

SmartDrive snaps up $90M for in-truck video telematics solutions for safety and fuel efficiency

Trucks and other large commercial vehicles are the biggest whales on the road today — are they also, by virtue of that size, some of the most dangerous and inefficient if they are driven badly. Today, a startup that has built a platform aimed at improving both of those areas has raised a large round of funding to continue fuelling (so to speak) its own growth: SmartDrive, a San Diego-based provider of video-based telematics and transportation insights, has snapped up a round of $90 million.

The company is not disclosing its valuation but according to PitchBook, it was last valued (in 2017) at $290 million, which would put the valuation now around $380 million. But given that the company has been growing well — it says that in the first half of this year, its contracted units were up 48%, while sales were up by 44% — that figure may well be higher. (We are asking.)

The funding comes at an interesting time for fleet management and the trucking industry. A lot of the big stories about automotive technology at the moment seem to be focused on autonomous vehicles for private usage, but that leaves a large — and largely legacy — market in the form of fleet management and commercial vehicles.

That’s not to say it’s been completely ignored, however. Bigger companies like Uber, Telsa and Volvo, and startups like Nikola and more are all building smarter trucks, and just yesterday Samsara, which makes an industrial IoT platform that works, in part, to provide fleet management to the trucking industry, raised $300 million on a $6.3 billion valuation.

The telematics market was estimated to be worth $25.5 billion in 2018 and is forecast to grow to some $98 billion by 2026.

The round was led by TPG Sixth Street Partners, a division of investment giant TPG (which backs the likes of Spotify and many others), which earlier this year was raising a $2 billion fund for growth-stage investments. Unnamed existing investors also participated. The company prior to this had raised $230 million, with other backers including Founders Fund, NewView Capital, Oak Investment Partners, Michelin and more. (NEA had also been an investor but has more recently sold its stake.)

SmartDrive has been around since 2005 and focuses on a couple of key areas. Tapping data from the many sensors that you have today in commercial vehicles, it builds up a picture of how specific truckers are handling their vehicles, from their control on tricky roads to what gears and speed they are using as they go up inclines, and how long they idle their engines. The resulting data is used both to provide a better picture to fleet managers of that performance, and to highlight specific areas where the trucker can improve his or her performance, and how.

Analytics and data provided to customers include multi-camera 360-degree views, extended recording and U-turn triggering, along with diagnostics on specific driver performance. The company claims that the information has led to more satisfaction among drivers and customers, with driver retention rates of 70% or higher and improvements to 9 miles per gallon (mpg) on trips, versus industry averages of 20% driver retention and 6 mpg.

“This is an exciting time at SmartDrive and in the transportation sector overall as adoption of video-based telematics continues to accelerate,” stated Steve Mitgang, SmartDrive CEO, in a statement. “Building on our pioneering video-based safety program, our vision of an open platform powering best-of-breed video, compliance and telematics applications is garnering significant traction across a diverse range of fleets given the benefits of choice, flexibility and a lower total cost of ownership. The investment from TPG Sixth Street Partners and our existing investors will fuel continued innovation in areas such as computer vision and AI, while also enhancing sales and marketing initiatives and further international expansion.”

The focus for SmartDrive seems to be on how drivers are doing in specific circumstances: it doesn’t seem to suggest whether there could have been better routes, or if better fleet management could have resulted in improved performance. (That could be one area where it grows, or fits into a bigger platform, however.)

“SmartDrive is a market leader in the large and expanding transportation safety and intelligence sector and we are pleased to be investing in a growing company led by such a talented team,” noted Bo Stanley, partner and co-head of the Capital Solutions business at TPG Sixth Street Partners, in a statement. “SmartDrive’s proprietary data analytics platform and strong subscriber base put it in a great position to continue to capitalize on its track record of innovation and the broader secular trend of higher demand for safer and smarter transportation.”

IBM brings Cloud Foundry and Red Hat OpenShift together

At the Cloud Foundry Summit in The Hague, IBM today showcased its Cloud Foundry Enterprise Environment on Red Hat’s OpenShift container platform.

For the longest time, the open-source Cloud Foundry Platform-as-a-Service ecosystem and Red Hat’s Kubernetes-centric OpenShift were mostly seen as competitors, with both tools vying for enterprise customers who want to modernize their application development and delivery platforms. But a lot of things have changed in recent times. On the technical side, Cloud Foundry started adopting Kubernetes as an option for application deployments and as a way of containerizing and running Cloud Foundry itself.

On the business side, IBM’s acquisition of Red Hat has brought along some change, too. IBM long backed Cloud Foundry as a top-level foundation member, while Red Hat bet on its own platform instead. Now that the acquisition has closed, it’s maybe no surprise that IBM is working on bringing Cloud Foundry to Red Hat’s platform.

For now, this work is still officially still a technology experiment, but our understanding is that IBM plans to turn this into a fully supported project that will give Cloud Foundry users the option to deploy their application right to OpenShift, while OpenShift customers will be able to offer their developers the Cloud Foundry experience.

“It’s another proof point that these things really work well together,” Cloud Foundry Foundation CTO Chip Childers told me ahead of today’s announcement. “That’s the developer experience that the CF community brings and in the case of IBM, that’s a great commercialization story for them.”

While Cloud Foundry isn’t seeing the same hype as in some of its earlier years, it remains one of the most widely used development platforms in large enterprises. According to the Cloud Foundry Foundation’s latest user survey, the companies that are already using it continue to move more of their development work onto the platform and the according to the code analysis from source{d}, the project continues to see over 50,000 commits per month.

“As businesses navigate digital transformation and developers drive innovation across cloud native environments, one thing is very clear: they are turning to Cloud Foundry as a proven, agile, and flexible platform — not to mention fast — for building into the future,” said Abby Kearns, executive director at the Cloud Foundry Foundation. “The survey also underscores the anchor Cloud Foundry provides across the enterprise, enabling developers to build, support, and maximize emerging technologies.”image024

Also at this week’s Summit, Pivotal (which is in the process of being acquired by VMware) is launching the alpha version of the Pivotal Application Service (PAS) on Kubernetes, while Swisscom, an early Cloud Foundry backer, is launching a major update to its Cloud Foundry-based Application Cloud.

The mainframe business is alive and well, as IBM announces new z15

It’s easy to think about mainframes as some technology dinosaur, but the fact is these machines remain a key component of many large organizations’ computing strategies. Today, IBM announced the latest in their line of mainframe computers, the z15.

For starters, as you would probably expect, these are big and powerful machines capable of handling enormous workloads. For example, this baby can process up to 1 trillion web transactions a day and handle 2.4 million Docker containers, while offering unparalleled security to go with that performance. This includes the ability to encrypt data once, and it stays encrypted, even when it leaves the system, a huge advantage for companies with a hybrid strategy.

Speaking of which, you may recall that IBM bought Red Hat last year for $34 billion. That deal closed in July and the companies have been working to incorporate Red Hat technology across the IBM business including the z line of mainframes.

IBM announced last month that it was making OpenShift, Red Hat’s Kubernetes-based cloud-native tools, available on the mainframe running Linux. This should enable developers, who have been working on OpenShift on other systems, to move seamlessly to the mainframe without special training.

IBM sees the mainframe as a bridge for hybrid computing environments, offering a highly secure place for data that when combined with Red Hat’s tools, can enable companies to have a single control plane for applications and data wherever it lives.

While it could be tough to justify the cost of these machines in the age of cloud computing, Ray Wang, founder and principal analyst at Constellation Research, says it could be more cost-effective than the cloud for certain customers. “If you are a new customer, and currently in the cloud and develop on Linux, then in the long run the economics are there to be cheaper than public cloud if you have a lot of IO, and need to get to a high degree of encryption and security,” he said.

He added, “The main point is that if you are worried about being held hostage by public cloud vendors on pricing, in the long run the z is a cost-effective and secure option for owning compute power and working in a multi-cloud, hybrid cloud world.”

Companies like airlines and financial services companies continue to use mainframes, and while they need the power these massive machines provide, they need to do so in a more modern context. The z15 is designed to provide that link to the future, while giving these companies the power they need.

ScyllaDB takes on Amazon with new DynamoDB migration tool

There are a lot of open source databases out there, and ScyllaDB, a NoSQL variety, is looking to differentiate itself by attracting none other than Amazon users. Today, it announced a DynamoDB migration tool to help Amazon customers move to its product.

It’s a bold move, but Scylla, which has a free open source product along with paid versions, has always had a penchant for going after bigger players. It has had a tool to help move Cassandra users to ScyllaDB for some time.

CEO Dor Laor says DynamoDB customers can now also migrate existing code with little modification. “If you’re using DynamoDB today, you will still be using the same drivers and the same client code. In fact, you don’t need to modify your client code one bit. You just need to redirect access to a different IP address running Scylla,” Laor told TechCrunch.

He says that the reason customers would want to switch to Scylla is because it offers a faster and cheaper experience by utilizing the hardware more efficiently. That means companies can run the same workloads on fewer machines, and do it faster, which ultimately should translate to lower costs.

The company also announced a $25 million Series C extension led by Eight Roads Ventures. Existing investors Bessemer Venture Partners, Magma Venture Partners, Qualcomm Ventures and TLV Partners also participated. Scylla has raised a total of $60 million, according to the company.

The startup has been around for 6 years and customers include Comcast, GE, IBM and Samsung. Laor says that Comcast went from running Cassandra on 400 machines to running the same workloads with Scylla on just 60.

Laor is playing the long game in the database market, and it’s not about taking on Cassandra, DynamoDB or any other individual product. “Our main goal is to be the default NoSQL database where if someone has big data, real-time workloads, they’ll think about us first, and we will become the default.”

Explorium reveals $19.1M in total funding for machine learning data discovery platform

Explorium, a data discovery platform for machine learning models, received a couple of unannounced funding rounds over the last year — a $3.6 million seed round last September and a $15.5 million Series A round in March. Today, it made both of these rounds public.

The seed round was led by Emerge with participation of F2 Capital. The Series A was led by Zeev Ventures with participation from the seed investors. The total raised is $19.1 million.

The company founders, who have a data science background, found that it was problematic to find the right data to build a machine learning model. Like most good startup founders confronted with a problem, they decided to solve it themselves by building a data discovery platform for data scientists.

CEO and co-founder, Maor Shlomo says that the company wanted to focus on the quality of the data because not much work has been done there. “A lot of work has been invested on the algorithmic part of machine learning, but the algorithms themselves have very much become commodities. The challenge now is really finding the right data to feed into those algorithms,” Sholmo told TechCrunch.

It’s a hard problem to solve, so they built a kind of search engine that can go out and find the best data wherever it happens to live, whether it’s internally or in an open data set, public data or premium databases. The company has partnered with thousands of data sources, according to Schlomo, to help data scientist customers find the best data for their particular model.

“We developed a new type of search engine that’s capable of looking at the customers data, connecting and enriching it with literally thousands of data sources, while automatically selecting what are the best pieces of data, and what are the best variables or features, which could actually generate the best performing machine learning model,” he explained.

Shlomo sees a big role for partnerships, whether that involves data sources or consulting firms, who can help push Explorium into more companies.

Explorium has 63 employees spread across offices in Tel Aviv, Kiev and San Francisco. It’s still early days, but Sholmo reports “tens of customers.” As more customers try to bring data science to their companies, especially with a shortage of data scientists, having a tool like Explorium could help fill that gap.

Kubernetes co-founder Craig McLuckie is as tired of talking about Kubernetes as you are

“I’m so tired of talking about Kubernetes . I want to talk about something else,” joked Kubernetes co-founder and VP of R&D at VMware Craig McLuckie during a keynote interview at this week’s Cloud Foundry Summit in The Hague. “I feel like that 80s band that had like one hit song — Cherry Pie.”

He doesn’t quite mean it that way, of course (though it makes for a good headline, see above), but the underlying theme of the conversation he had with Cloud Foundry executive director Abby Kearns was that infrastructure should be boring and fade into the background, while enabling developers to do their best work.

“We still have a lot of work to do as an industry to make the infrastructure technology fade into the background and bring forwards the technologies that developers interface with, that enable them to develop the code that drives the business, etc. […] Let’s make that infrastructure technology really, really boring.”

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What McLuckie wants to talk about is developer experience and with VMware’s intent to acquire Pivotal, it’s placing a strong bet on Cloud Foundry as one of the premiere development platforms for cloud native applications. For the longest time, the Cloud Foundry and Kubernetes ecosystem, which both share an organizational parent in the Linux Foundation, have been getting closer, but that move has accelerated in recent months as the Cloud Foundry ecosystem has finished work on some of its Kubernetes integrations.

McLuckie argues that the Cloud Native Computing Foundation, the home of Kubernetes and other cloud-native, open-source projects, was always meant to be a kind of open-ended organization that focuses on driving innovation. And that created a large set of technologies that vendors can choose from.

“But when you start to assemble that, I tend to think about you building up this cake which is your development stack, you discover that some of those layers of the cake, like Kubernetes, have a really good bake. They are done to perfection,” said McLuckie, who is clearly a fan of the Great British Baking show. “And other layers, you look at it and you think, wow, that could use a little more bake, it’s not quite ready yet. […] And we haven’t done a great job of pulling it all together and providing a recipe that delivers an entirely consumable experience for everyday developers.”

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He argues that Cloud Foundry, on the other hand, has always focused on building that highly opinionated, consistent developer experience. “Bringing those two communities together, I think, is going to have incredibly powerful results for both communities as we start to bring these technologies together,” he said.

With the Pivotal acquisition still in the works, McLuckie didn’t really comment on what exactly this means for the path forward for Cloud Foundry and Kubernetes (which he still talked about with a lot of energy, despite being tired of it). But it’s clear that he’s looking to Cloud Foundry to enable that developer experience on top of Kubernetes that abstracts all of the infrastructure away for developers and makes deploying an application a matter of a single CLI command.

Bonus: Cherry Pie.

With its Kubernetes bet paying off, Cloud Foundry doubles down on developer experience

More than 50% of the Fortune 500 companies are now using the open-source Cloud Foundry Platform-as-a-Service project — either directly or through vendors like Pivotal — to build, test and deploy their applications. Like so many other projects, including the likes of OpenStack, Cloud Foundry went through a bit of a transition in recent years as more and more developers started looking to containers — and especially the Kubernetes project — as a platform on which to develop. Now, however, the project is ready to focus on what always differentiated it from its closed- and open-source competitors: the developer experience.

Long before Docker popularized containers for application deployment, though, Cloud Foundry had already bet on containers and written its own orchestration service, for example. With all of the momentum behind Kubernetes, though, it’s no surprise that many in the Cloud Foundry started to look at this new project to replace the existing container technology.

Q-CTRL raises $15M for software that reduces error and noise in quantum computing hardware

As hardware makers continue to work on ways of making wide-scale quantum computing a reality, a startup out of Australia that is building software to help reduce noise and errors on quantum computing machines has raised a round of funding to fuel its U.S. expansion.

Q-CTRL is designing firmware for computers and other machines (such as quantum sensors) that perform quantum calculations, firmware to identify the potential for errors to make the machines more resistant and able to stay working for longer (the Q in its name is a reference to qubits, the basic building block of quantum computing).

The startup is today announcing that it has raised $15 million, money that it plans to use to double its team (currently numbering 25) and set up shop on the West Coast, specifically Los Angeles.

This Series A is coming from a list of backers that speaks to the startup’s success to date in courting quantum hardware companies as customers. Led by Square Peg Capital — a prolific Australian VC that has backed homegrown startups like Bugcrowd and Canva, but also those further afield such as Stripe — it also includes new investor Sierra Ventures as well as Sequoia Capital, Main Sequence Ventures and Horizons Ventures.

Q-CTRL’s customers are some of the bigger names in quantum computing and IT, such as Rigetti, Bleximo and Accenture, among others. IBM — which earlier this year unveiled its first commercial quantum computer — singled it out last year for its work in advancing quantum technology.

The problem that Q-CTRL is aiming to address is basic but arguably critical to solving if quantum computing ever hopes to make the leap out of the lab and into wider use in the real world.

Quantum computers and other machines like quantum sensors, which are built on quantum physics architecture, are able to perform computations that go well beyond what can be done by normal computers today, with the applications for such technology including cryptography, biosciences, advanced geological exploration and much more. But quantum computing machines are known to be unstable, in part because of the fragility of the quantum state, which introduces a lot of noise and subsequent errors, which results in crashes.

As Frederic pointed out recently, scientists are confident that this is ultimately a solvable issue. Q-CTRL is one of the hopefuls working on that, by providing a set of tools that runs on quantum machines, visualises noise and decoherence and then deploys controls to “defeat” those errors.

Q-CTRL currently has four products it offers to the market: Black Opal, Boulder Opal, Open Controls and Devkit — aimed respectively at students/those exploring quantum computing, hardware makers, the research community and end users/algorithm developers.

Q-CTRL was founded in 2017 by Michael Biercuk, a professor of Quantum Physics & Quantum Technology at the University of Sydney and a chief investigator in the Australian Research Council Centre of Excellence for Engineered Quantum Systems, who studied in the U.S., with a PhD in physics from Harvard.

“Being at the vanguard of the birth of a new industry is extraordinary,” he said in a statement. “We’re also thrilled to be assembling one of the most impressive investor syndicates in quantum technology. Finding investors who understand and embrace both the promise and the challenge of building quantum computers is almost magical.”

Why choose Los Angeles for building out a U.S. presence, you might ask? Southern California, it turns out, has shaped up to be a key area for quantum research and development, with several of the universities in the region building out labs dedicated to the area, and companies like Lockheed Martin and Google also contributing to the ecosystem. This means a strong pipeline of talent and conversation in what is still a nascent area.

Given that it is still early days for quantum computing technology, that gives a lot of potential options to a company like Q-CTRL longer-term: The company might continue to build a business as it does today, selling its technology to a plethora of hardware makers and researchers in the field; or it might get snapped up by a specific hardware company to integrate Q-CTRL’s solutions more closely onto its machines (and keep them away from competitors).

Or, it could make like a quantum particle and follow both of those paths at the same time.

“Q-CTRL impressed us with their strategy; by providing infrastructure software to improve quantum computers for R&D teams and end-users, they’re able to be a central player in bringing this technology to reality,” said Tushar Roy, a partner at Square Peg. “Their technology also has applications beyond quantum computing, including in quantum-based sensing, which is a rapidly-growing market. In Q-CTRL we found a rare combination of world-leading technical expertise with an understanding of customers, products and what it takes to build an impactful business.”