ColdQuanta, the leader in Cold Atom Quantum Technology, today announced Rushton McGarr as chief financial officer. In his new role, he will oversee financial strategy and management for one of the world’s most influential companies in the rapidly growing market of quantum computing, sensing and networking. The company has also retained the services of PJ Solomon, an independently operated affiliate of Natixis, to guide the company in an upcoming capital raise.
Prior to joining ColdQuanta, Rushton served as chief financial officer at FullContact, a leading privacy-safe identity resolution company. FullContact is a portfolio company of Foundry Group, which is also an investor in ColdQuanta. Prior to that, Rushton served as president and a board member at concept3D Inc., a venture-backed software development and services company that provides an interactive mapping SaaS platform and services to customers including Disney and Harvard Business School. Rushton also cofounded Market Force Information, Inc., a provider of technology-enabled customer experience information and insights to Fortune 1000 companies, which was acquired by Main Street Capital in 2017.
“Rushton has successfully scaled many high-growth technology companies, and we welcome his insights and expertise to ColdQuanta as we shift from a primarily R&D focused business to a stage of rapid commercialization in the lifecycle of our company,” said Dan Caruso, executive chairman and interim CEO of ColdQuanta. “We are experiencing significant growth in the multi-billion dollar market for quantum computing, networking and sensing. The combination of Rushton’s strong analytical skills and deep operational knowledge coupled with the addition of PJ Solomon as our advisor will propel our growth as we capitalize on the huge market momentum for quantum.”
“ColdQuanta has built a strong foundation and is poised to capitalize on its early success in the quantum market,” said McGarr. “As part of ColdQuanta’s leadership team, I look forward to building upon this track record and leading the company though its next phase of growth as we commercialize our quantum products and services.”
ColdQuanta has hired PJ Solomon, a leading financial advisory firm with a legacy as one of the first independent investment banks, to advise the company as it embarks on a capital raise. PJ Solomon has worked with high profile technology sector brands including Netflix, Sony and eBay and has extensive experience raising growth capital for companies in emerging technology areas. Recent transactions to secure growth equity include a de-SPAC merger for Bakkt, a digital asset/cryptocurrency management application and a Series B raise for StackPath, a leading edge computing platform.
ColdQuanta is the leader in Cold Atom Quantum Technology, the most scalable, versatile, and commercially viable area of quantum. ColdQuanta is dedicated to making quantum a reality through the development of a cloud-based Quantum Computer and Precision Sensing and Networking solutions. Backed by years of research and development, the story of ColdQuanta began in 1924 with the discovery of the Bose Einstein Condensate (BEC) – also known as the 5th form of matter – and 70 years later brought to fruition when it was first synthesized at the University of Colorado at Boulder in collaboration with the National Institute of Standards and Technology (NIST). ColdQuanta was spawned by this BEC breakthrough. Today, ColdQuanta is collaborating with its global customers, which include major commercial and defense companies; the U.S. Department of Defense; national labs operated by the Department of Energy, NASA, and NIST; major universities; and quantum-focused tech companies, to advance products and services developed with Cold Atom Quantum Technology. ColdQuanta is based in Boulder, CO with offices in Madison, Wisconsin and Oxford, UK. Find out more at www.coldquanta.com