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Diligence memoA one-page analyst read on D-Wave Quantum Inc. — recommendation, valuation, rhythm, risks.→D-Wave Quantum Inc. looks over-valued against its niche peers and is active on financing cadence.
Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the technology sector profile.
Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.
No named principal in this company's public records yet — see all operators below.
Explore how these operators interlock with other companies in the operator network.
D-Wave Quantum Inc. is one of 21292 Other Technology companies tracked from PALO ALTO. By capital raised it ranks among the largest (ahead of 99% of sector peers), and among the largest by modeled valuation est..
Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.
As reported in public records reported — not modeled.
Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.
The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.
Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A, Series B, Series C — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 17%.
Round size and date are reported; the stage label is inferred from round size (latest is Series D+ — a $100M–$400M round). Valuation is modeled from stage benchmarks scaled by the technology sector profile. Directional, not a quoted figure.
Not enough modeled valuation points to chart a trajectory.
Benchmarked against 21292 companies in Other Technology. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.
Raised more than 99% of sector peers (real $). Modeled value above 98% of peers (estimate).
A tighter cohort than the sector chart above — only companies at the same stage (Series D+) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #6 of 60.
| Company | Stage | Raised · real | Value · est | vs peer med. |
|---|---|---|---|---|
| ServiceNow, Inc. | Series D+ | $459.3M | $3.6B | 3.41× |
| Castelion Corp | Series D+ | $434.0M | $3.1B | 3.01× |
| Cryptyde, Inc. | Series D+ | $350.9M | $2.3B | 2.21× |
| Niantic Spatial, Inc. | Series D+ | $248.0M | $2.3B | 2.18× |
| Robin Motor Ltd | Series D+ | $250.0M | $2.2B | 2.11× |
| D-Wave Quantum Inc. this company | Series D+ | $275.0M | $2.1B | 2.05× |
| Bending Spoons S.p.A. | Series D+ | $323.0M | $2.0B | 1.92× |
| Signify Holdings, Inc. | Series D+ | $307.5M | $2.0B | 1.91× |
| American Bitcoin Corp. | Series D+ | $220.1M | $2.0B | 1.90× |
| Omatwt, Llc | Series D+ | $200.0M | $2.0B | 1.89× |
| Covenantz Inc. | Series D+ | $400.0M | $1.9B | 1.86× |
| Raintank Inc. | Series D+ | $913.7M | $1.9B | 1.82× |
Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.
| Stage | Amount · real | Announced | Post-money · est | Value · est | Conf. |
|---|---|---|---|---|---|
| Series D+ | $275.0M | 2026-01-20 | $2.3B | $2.1B | 90% |
Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.
Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.
Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.
| Person | Role | Also runs | Tied since |
|---|---|---|---|
| John M. Markovich | — | 2 other | 2026-01 |
| Sharon E. Holt | — | 1 other | 2026-01 |
| STEVEN M. WEST | — | 1 other | 2026-01 |
| Alan E. Baratz | — | — | 2026-01 |
| Diane M. Nguyen | — | — | 2026-01 |
| John D. DiLullo | — | — | 2026-01 |
| Kirstjen M. Nielsen | — | — | 2026-01 |
| Roger M. Biscay | — | — | 2026-01 |
| Rohit M. Ghai | — | — | 2026-01 |
D-Wave Quantum Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.
Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.
| Company | Sector | Stage | Raised · real | Value · est | Why similar |
|---|---|---|---|---|---|
| Rambus Inc | Other Technology | Series D+ | $288.6M | $2.8B | network1 shared operator · same sector · same stage |
| Soham Inc. | Other Technology | Series D+ | $275.0M | $2.0B | same sector · same stage |
| Tegus, Inc. | Other Technology | Series D+ | $271.2M | $3.0B | same sector · same stage |
| Vestwell Holdings Inc. | Other Technology | Series D+ | $266.6M | $2.3B | same sector · same stage |
| JAND, Inc. | Other Technology | Series D+ | $287.7M | $2.4B | same sector · same stage |
| Braze, Inc. | Other Technology | Series D+ | $289.5M | $1.3B | same sector · same stage |
| Mammoth Interactive LLC | Other Technology | Series D+ | $260.0M | $2.8B | same sector · same stage |
| Clear Air Exhaust Technologies Corp | Other Technology | Series D+ | $300.0M | $2.1B | same sector · same stage |
Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.
| Company | Sector | Stage | Value · est | Match |
|---|---|---|---|---|
| Quantum Circuits, Inc. | Other Technology | Series B | $228.1M | 88% |
| WaveTech Group, Inc. | Other Technology | Pre-Seed | $2.4M | 88% |
| Quantum Formatics Corp. | Other Technology | Seed | $4.1M | 87% |
| Quantum Designs, LLC | Other Technology | Seed | $44.6M | 86% |
| Laser Photonics Corp | Other Technology | Series A | $4.1M | 85% |
| Quantum Qool, Inc. | Other Technology | Seed | $6.4M | 85% |
| Quantum Field Holdings LLC | Other Technology | Seed | $5.2M | 85% |
| QuantumXchange, Inc. | Other Technology | Series B | $70.2M | 85% |
See where D-Wave Quantum Inc. sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.
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