Quantum computing breakthroughs and the power of startup pivots — March updates from Bessemer

Discover how Microsoft, Google, and Xanadu are pushing the boundaries of practical quantum computing (QC), each hitting key milestones that signal real progress.

Catch up on quantum computing

• Recently, Microsoft?announced a major step toward scalable quantum computing — the development of a topological qubit, a novel phase of matter that could unlock new problem-solving capabilities in science, medicine, AI, and beyond.
• In January,?Xanadu?unveiled Aurora, the first scalable, networked, modular quantum computer. Featuring four photonically interconnected server racks, Aurora marks a leap toward fault-tolerant quantum computing. CEO Christian Weedbrook called Aurora the first system to integrate all subsystems for universal quantum computing in a photonic architecture.

From our XB100 series, Partner David Cowan and CEO & founder Christian Weedbrook discuss how Xanadu is building universal quantum computers using light.

• In addition, late last year,?Google?introduced the Willow quantum chip, which performed a computation in under five minutes — a task that would take a classical supercomputer 1,025 years to complete.

So, have we reached quantum advantage? Not yet. But according to David Cowan, we are getting closer. Here is his 101 primer from the Atlas archives on the race to quantum advantage.

In case you missed it

? Bessemer London team hosts hackathon. The energy at the AI Engine: UK University Hackathon was electric, reports Justina Chung, as 200 of the brightest student engineers in the UK built prototypes that used to take months in mere hours. Read more.??

?? Spencer Ante joins Bessemer Operator Network. A Pulitzer Prize-nominated journalist and award-winning marketer, Spencer is bringing his decades of experience to the Bessemer team to help portfolio companies nail their marketing and communications. Read more.

??Byron Deeter appears on CNBC. The AI and semiconductor landscape is going to be 'much more competitive' by the end of 2025 and into 2026, says Byron. Watch here.

From 12 pivots to a $20M bet on Voice AI: Jordan Dearsley CEO and Co-founder of Vapi

12 pivots in 3 months. Jordan Dearsley and the Vapi team were out of ideas, out of time, and running out of options.

During Y Combinator, they pivoted 12 times — throwing ideas at the wall, hoping something would stick. Time was running out and Demo Day loomed just four weeks away. Pivot 12 was a dead simple idea: A button in the menu bar to help users join meetings faster. The team launched on Product Hunt. There wasn’t time to build a paywall, so they offered customers a two-week free trial to buy time.?

Within two weeks, they hit $2K MRR, giving Jordan and the team real traction for Demo Day — enough to eventually close the company’s $2M seed round. It took another couple of years that Jordan describes as “painful” before he hit his 13th pivot — and that’s the one that became Vapi, the Voice AI platform for developers. In late 2024, Bessemer led the $20M Series A in Vapi.?

Today, we know that voice remains the backbone of business communication, yet AI-powered voice agents are still an untapped market. Vapi is changing that. By solving the complex infrastructure challenges of real-time voice AI, they’re enabling businesses to build scalable, human-like voice agents that eliminate long wait times, automate customer interactions, and provide enterprise-grade reliability—even in highly regulated industries.

As AI adoption accelerates, demand for fast, intelligent voice interfaces will surge, and Vapi is positioned as the infrastructure layer powering this shift. Our partners share more on the future of Voice AI — read on.