Riverlane Revenue, Valuation, Funding & Investors

Riverlane is valued at $400M as of August 2024.

Last Riverlane valuation

$400M

Series C · Aug 2024

Last Riverlane funding round

$75M

Series C · Aug 2024

Riverlane revenue

$3M

Series C · Aug 2024

Key investors in Riverlane

  • Amadeus Capital Partners
  • Cambridge Innovation Capital
  • Molten Ventures
  • University of Cambridge Enterprise
  • National Security Strategic Investment Fund
  • Altair

Riverlane Overview

About Riverlane

Riverlane is a Cambridge, UK-headquartered quantum computing software company developing error-correction tools for qubits. Its Deltaflow platform corrects errors in real time at scales of billions per second, compatible with superconducting and ion-trap hardware. Founded in 2016, it collaborates with IBM, Rigetti, and Oxford Quantum Circuits on scalable quantum processors.


Founded

2016

HQ

United KingdomCambridge

Status

Privately held

Customer focus

B2B

Revenue model

Licensing

Revenue

$3M (Aug 2024)

Valuation

$400M (Aug 2024)

Riverlane Valuation

Riverlane is currently valued at $400M, based on its Series C in August 2024.

The $75M round was led by Planet First Partners, with participation from National Security Strategic Investment Fund, ETF Partners, EDBI, Cambridge Innovation Capital, Amadeus Capital Partners and 1 other investor.

Riverlane's valuation has grown 1,333x from $300K at its pre-seed round in April 2023 to $400M in August 2024, across 2 priced rounds.

Riverlane valuation by funding round

Revenue multiple
Riverlane valuation by funding round
DateStageValuationRevenue Multiple
Aug 2024Series C$400M133.3x
Apr 2023Pre-seed$300K-

Riverlane Revenue

Riverlane's latest recorded revenue is $3M, as of its Series C in August 2024.

Riverlane revenue by funding round

Riverlane revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Aug 2024$3M$400M133.3xSeries C

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Riverlane Funding History

Riverlane has raised a total of $118M across 5 funding rounds.

Riverlane's first fundraising round was a $4M seed round in June 2019. The most recent completed round was a $75M Series C in August 2024.

Riverlane funding rounds

Riverlane funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Aug 2024Series CPlanet First Partners (lead); National Security Strategic Investment Fund; ETF Partners; EDBI; Cambridge Innovation Capital; Amadeus Capital Partners; Altair$75M$400MRiverlane, a Cambridge, UK-based quantum engineering company founded in 2016, develops quantum error correction (QEC) technology, including its Deltaflow platform with patented QEC semiconductors, to enable fault-tolerant quantum computing by achieving one million error-free operations by 2026. The technology addresses surging demand from quantum computer makers for error correction to unlock applications in pharmaceuticals, chemicals, materials science, transportation, battery materials, clean fertilizers, climate mitigation, and human health. Riverlane collaborates worldwide with quantum hardware developers and positions itself as a leader in making quantum computing practically useful. On August 6, 2024, Riverlane raised $75 million in a Series C funding round led by Planet First Partners, an Article 9 sustainable growth equity platform, with participation from ETF Partners, EDBI, and existing investors Cambridge Innovation Capital, Amadeus Capital Partners, UK's National Security Strategic Investment Fund, and Altair. This brought total funding to approximately $121-125 million, marking Europe's first Series C for a quantum computing startup and providing a significant uplift from its $200 million Series B valuation. Post-money valuation exceeded $400 million, reflecting strong investor confidence in QEC's role in accelerating quantum market growth. Proceeds will expand operations to execute Riverlane's QEC roadmap, including product releases toward fault-tolerant quantum computing (FTQC) milestones. Investors highlighted sustainability impacts, such as enabling breakthroughs in clean energy storage and environmental solutions.
Apr 2023Pre-seedSterling Finl Hldgs (lead)$100K$300K-
Apr 2023Series BMolten Ventures (lead); National Security Strategic Investment Fund; Cambridge Innovation Capital; Amadeus Capital Partners; Altair$19M-Riverlane is a UK-based quantum computing startup founded in 2016, specializing in quantum error correction (QEC) technology to reduce errors in quantum computers, enabling progress toward large-scale, reliable quantum systems. The company partners with leading quantum hardware makers including Rigetti Computing, Alice & Bob, QuEra Computing, Infleqtion, Atlantic Quantum, and national labs such as Oak Ridge National Laboratory and the UK’s National Quantum Computing Centre. In April 2023, Riverlane raised funding led by Molten Ventures with participation from Altair, Amadeus Capital Partners, Cambridge Innovation Capital, and the National Security Strategic Investment Fund; total funding to date exceeds $125 million including a prior $75 million Series C in August 2024 led by Planet First Partners. Near the 2023 round, Riverlane reported revenue of £2.1 million in 2022, dropping slightly to £2 million in 2023, while ramping up R&D spending from £2.7 million in 2022 to £7 million in 2023, leading to pre-tax losses increasing from £6.2 million to £8.3 million. Administrative expenses decreased from £7 million to £5.4 million. The company has secured partnerships with a dozen quantum computer builders and plans to release a new chip by end-2026 supporting up to 10,000 qubits, with Series C funds directed toward product development and operations expansion. Riverlane operates in the competitive quantum computing sector, focusing on error correction as a key enabler for fault-tolerant systems amid surging demand. Recent collaborations include real-time QEC demonstrations with Rigetti in 2024 and ongoing work with US and European quantum firms. The startup aims for one million error-free quantum operations by 2026, positioning itself to capitalize on global market growth in quantum technology.
Jan 2021Series AAmadeus Capital Partners (lead); Molten Ventures (lead); University of Cambridge Enterprise; Parkwalk Advisors; Cambridge Innovation Capital$20M-Riverlane, a Cambridge, UK-based quantum engineering company founded in 2016, develops Deltaflow, an operating system for error-corrected quantum computing that addresses the critical challenge of quantum error correction to enable reliable, scalable quantum computers. The company secured $20 million in Series A funding on January 25, 2021, led by Draper Esprit (now Molten Ventures) with participation from Amadeus Capital Partners, Cambridge Innovation Capital, Parkwalk Advisors, and University of Cambridge Enterprise. This followed a £3.25 million seed round in June 2019 and aimed to expand Deltaflow internationally to the US, Europe, and beyond, while building partnerships with quantum hardware manufacturers—20% of the world's quantum hardware makers had already signed up to use Deltaflow. Deltaflow provides a shared language between quantum applications and diverse hardware types, fostering a thriving quantum ecosystem and accelerating the commercialization of quantum technology. Investors highlighted Riverlane's rapid progress and potential to set a global standard for quantum operating systems. Draper Esprit emphasized support for scaling world-changing technologies, noting early commercial traction with hardware manufacturers. Subsequent rounds included a £15 million Series B in 2023 led by Molten Ventures with Altair, Cambridge Innovation Capital, Amadeus Capital Partners, and the National Security Strategic Investment Fund, substantially increasing enterprise valuation toward cash flow break-even and funding Deltaflow.OS development. In 2024, Riverlane raised a $75 million Series C led by Planet First Partners, with ETF Partners, EDBI, and existing investors, to meet surging demand for quantum error correction amid strong industry funding momentum. Total funding reached nearly $121 million by then, with a later reported valuation of $351.2 million, though specifics for the 2021 round remain undisclosed.
Jun 2019SeedAmadeus Capital Partners (lead); Cambridge Innovation Capital (lead); University of Cambridge Enterprise$4M-Riverlane is a Cambridge-based quantum computing software company founded in 2016 that specializes in quantum error correction technology and quantum simulation engines. The company raised £3.25 million in seed funding in June 2019, led by venture capital investors Cambridge Innovation Capital and Amadeus Capital Partners, with participation from Cambridge Enterprise. The funding was intended to enable Riverlane to demonstrate its technology across multiple quantum computing hardware platforms and expand its team of quantum software researchers and computational physicists. The company's software aims to accelerate the simulation of quantum systems for applications in materials design and drug discovery, positioning quantum computers as accelerators for complex computational problems similar to how GPUs accelerate machine learning workloads. By 2024, Riverlane had grown significantly, raising a $75 million Series C round led by Planet First Partners to advance its quantum error correction roadmap and meet global market demand for quantum computing solutions.

Who has invested in Riverlane?

11 investors have backed Riverlane across its funding rounds, including Amadeus Capital Partners, Cambridge Innovation Capital, Molten Ventures, University of Cambridge Enterprise, National Security Strategic Investment Fund and Altair.

Lead investors include Planet First Partners, Sterling Finl Hldgs, Molten Ventures, Amadeus Capital Partners and Cambridge Innovation Capital.


Riverlane Investors

Investors in Riverlane by funding rounds participated
InvestorHQRoundsRoleFirst check
Cambridge Innovation CapitalUnited KingdomCambridge4LeadJun 2019
Amadeus Capital PartnersUnited KingdomCambridge4LeadJun 2019
National Security Strategic Investment FundUnited KingdomLondon2ParticipantApr 2023
University of Cambridge EnterpriseUnited KingdomUnited Kingdom2ParticipantJun 2019
Molten VenturesUnited KingdomLondon2LeadJan 2021
AltairUnited StatesSan Francisco, CA2ParticipantApr 2023
Sterling Finl HldgsNigeriaLagos1LeadApr 2023
Parkwalk AdvisorsUnited KingdomLondon1ParticipantJan 2021
ETF PartnersUnited KingdomLondon1ParticipantAug 2024

This data is available for Pro users. Sign up to see all 11 Riverlane investors.

Start Free Trial

Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.

Start Free Trial

Riverlane Competitors

Riverlane competitors include listed companies like D-Wave Quantum and SemiFive, and private ones like Maybell Quantum Industries, Quantum Machines, IQM Quantum Computers and QuEra Computing.

Public and private companies comparable to Riverlane
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Maybell Quantum IndustriesUnited StatesDenver, COPrivate--$280M-
Quantum MachinesUnited StatesWilmington, DEPrivate--$700M-
IQM Quantum ComputersFinlandEspooPrivate$35M-$1B28.6x
QuEra ComputingUnited StatesBoston, MAPrivate$41M-$1B24.4x
D-Wave QuantumUnited StatesUnited StatesPublicly listed$25M($373M)$6.7B166.4x
SemiFiveSouth KoreaSouth KoreaPublicly listed$80M($31M)$372M3.5x

Riverlane Public Comps

Riverlane is still privately-owned, but its public comps include SemiFive, Fixstars, Corvex, QumulusAI, Exascale Labs, Northern Data, Stradvision, Whitefiber, Blaize Holdings and Alpha Technology Group.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
SemiFive$80M($31M)5.5x3.5x(14.0x)(31.6x)
Fixstars$62M$18M6.7x5.9x23.5x-
Corvex$433K($15M)2054.0x-(57.9x)-
QumulusAI$13M$3M27.0x-122.7x-
Exascale Labs$7M($8M)26.2x-(24.0x)-
Northern Data$92M($36M)15.4x-(39.8x)-
Stradvision$13M($21M)6.6x6.9x(4.2x)-
Whitefiber$79M($2M)12.1x7.9x(412.2x)25.8x

This data is available for Pro users. Sign up to see all Riverlane competitors and their valuation data.

Start Free Trial

Common questions about Riverlane

When was Riverlane founded?Riverlane was founded in 2016.
Where is Riverlane headquartered?Riverlane is headquartered in Cambridge, United Kingdom.
Is Riverlane publicly listed?No, Riverlane is a private, VC-backed company.
What is Riverlane's valuation?Riverlane was last valued at $400M in its Series C in August 2024.
How much funding has Riverlane raised?Riverlane has raised $118M across 5 funding rounds.
What was Riverlane's last funding round?Riverlane's last funding round was a $75M Series C in August 2024, led by Planet First Partners.
Who are Riverlane's investors?Riverlane's investors include Cambridge Innovation Capital, Amadeus Capital Partners, National Security Strategic Investment Fund, University of Cambridge Enterprise, Molten Ventures, Altair, Sterling Finl Hldgs, Parkwalk Advisors, ETF Partners, EDBI and 1 other.
What is Riverlane's revenue?Riverlane's latest recorded revenue is $3M (August 2024).
Which companies are comparable to Riverlane?Companies comparable to Riverlane include Maybell Quantum Industries, Quantum Machines, IQM Quantum Computers, QuEra Computing, D-Wave Quantum and SemiFive.

See companies similar to Riverlane

Start Your
Free Trial Today

Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.

Start Trial