About Strangeworks
Strangeworks is a company based in Austin (United States) founded in 2018 by William Hurley and Justin Youens.. Strangeworks has raised $28 million across 2 funding rounds from investors including IBM, RTX and Lightspeed Venture Partners. Strangeworks has completed 1 acquisition, including Quantagonia. Strangeworks offers products and services including Strangeworks Platform and Quantum Syndicate. Strangeworks operates in a competitive market with competitors including QC Ware, Kipu Quantum, 1QBit, Cambridge Quantum Computing and Kvantify, among others.
- Headquarter Austin, United States
- Founders William Hurley, Justin Youens
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Sectors
Technology
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Email
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Phone
*********
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Website
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Social
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- Legal Name Strangeworks Inc
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$28 M (USD)
in 2 rounds
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Latest Funding Round
$24 M (USD), Series A
Mar 21, 2023
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Investors
IBM
& 11 more
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Employee Count
Employee Count
- Investments & Acquisitions
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Products & Services of Strangeworks
Strangeworks offers a comprehensive portfolio of products and services, including Strangeworks Platform and Quantum Syndicate. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Provides access to quantum and AI resources for business problem-solving.
Facilitates partnerships for quantum technology development and testing.
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Funding Insights of Strangeworks
Strangeworks has successfully raised a total of $28M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $24 million completed in March 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Series A — $24.0M
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First Round
First Round
(12 Jun 2018)
- Investors Count 12
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2023 | Amount | Series A - Strangeworks | Valuation | Hitachi Ventures , IBM | |
| Jun, 2018 | Amount | Seed - Strangeworks | Valuation | Lightspeed Venture Partners |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Strangeworks
Strangeworks has secured backing from 12 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include IBM, RTX and Lightspeed Venture Partners. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Venture capital funding is provided for technology and healthcare companies.
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Founded Year | Domain | Location | |
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Venture capital investing in innovative companies across global sectors is undertaken by Lightspeed Venture Partners.
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Founded Year | Domain | Location | |
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Venture capital firm focused on early-stage big data, health tech, AI, food tech, and multiple sectors
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Strangeworks
Strangeworks has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Quantagonia. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Developer of a cloud and AI-powered quantum computing platform as a service
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2021 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Strangeworks
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Strangeworks Comparisons
Competitors of Strangeworks
Strangeworks operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as QC Ware, Kipu Quantum, 1QBit, Cambridge Quantum Computing and Kvantify, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
A cloud-based quantum computing platform is provided by QC Ware.
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| domain | founded_year | HQ Location |
Quantum computing software solutions for optimization problems are provided.
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| domain | founded_year | HQ Location |
Hardware-agnostic platform for quantum computing software is developed.
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| domain | founded_year | HQ Location |
AI-based software for quantum computing is provided.
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| domain | founded_year | HQ Location |
Provider of quantum computing solutions for businesses in industries such as finance, life sciences, and logistics
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Strangeworks
Frequently Asked Questions about Strangeworks
When was Strangeworks founded?
Strangeworks was founded in 2018.
Where is Strangeworks located?
Strangeworks is headquartered in Austin, United States. It is registered at Austin, Texas, United States.
Who is the current CEO of Strangeworks?
William Hurley is the current CEO of Strangeworks. They have also founded this company.
Is Strangeworks a funded company?
Strangeworks is a funded company, having raised a total of $28M across 2 funding rounds to date. The company's 1st funding round was a Seed of $4M, raised on Jun 12, 2018.
What does Strangeworks do?
Strangeworks was founded in 2018 in Austin, United States, as a developer of quantum computing software solutions. A platform is offered to users for building quantum computing applications. Partnerships, including one with StackOverflow, support a community focused on quantum computing. Operations center on software development within the quantum technology sector, serving developers and researchers globally.
Who are the top competitors of Strangeworks?
Strangeworks's top competitors include Kipu Quantum, Kvantify and Cambridge Quantum Computing.
What products or services does Strangeworks offer?
Strangeworks offers Strangeworks Platform and Quantum Syndicate.
How many acquisitions has Strangeworks made?
Strangeworks has made 1 acquisition, including Quantagonia.
Who are Strangeworks's investors?
Strangeworks has 12 investors. Key investors include IBM, RTX, Lightspeed Venture Partners, Hitachi Ventures, and GreatPoint Ventures.
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