By ET Bureau - April 02, 2021 3 Mins Read
Leader in Cold Atom Quantum Technology Hires PJ Solomon to Prepare for Capital Raise in Multi-Billion Dollar Quantum Market
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 co-founded 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 Rushton 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.
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