DC-based State Affairs Raises $70 Million From Leading Investors

Washington, D.C. – State Affairs, a D.C.-based regulatory intelligence company, announced that it has raised $70 million in funding. Investors include Founders Fund, Khosla Ventures, Tru Arrow Partners, Alumni Ventures, and individual investors including Marcus Brauchli, Alex Mather, Adam Hansmann, and Richard Sarnoff. Using AI and its own intelligence platform, State Affairs provides daily reporting and analytics used by its customers to respond to policy and regulatory developments.

“Policy and regulatory markets are often more impactful to organizations than financial markets, yet everybody from voters to companies are often the last to know what’s happening,” said Evan Burns, co-founder and CEO of State Affairs. “State Affairs helps organizations proactively understand and engage with policy markets at scale across the U.S.”

Arlington-based Twenty Raises $30M at $1.2 Billion Valuation

Arlington, Va. – Following on its recent $100 million Series B round, Twenty, an Arlington-based startup focused on cyber warfare, announced that it has received an additional investment of $30 million from Khosla Ventures at a valuation of $1.2 billion. The company has now raised a total of $168 million. Twenty is focused on “offensive” cyber warfare technologies.

“Our thesis here is simple. AI is reshaping the world and the US and its allies need an AI-native cyberwarfare prime capable of protecting our most critical interests. That prime is Twenty,” said Jon Chu, the Partner at Khosla Ventures. “Every major national security domain needs a prime that can operate at the speed of AI while delivering commercial grade execution and earning mission level trust. I’ve searched for a company that fits this thesis for years, but have never found a team with the necessary depth across AI, cyber, and defense until now.”

Enlightenment Capital Invests in DC-based Quorum

Washington, D.C. – Enlightenment Capital, the Chevy Chase-based aerospace and defense investment firm, announced that it has made a strategic investment in Quorum, an AI-based platform for public affairs firms. Quorum’s platform is used by businesses, trade associations, non-profits and government agencies. It provides legislative tracking, stakeholder engagement, grassroots advocacy, PAC management and other services used by public affairs officials. “Quorum has built the platform of record for government affairs teams, and the company’s leadership in agentic AI represents the kind of category-defining innovation we invest behind,” said Devin Talbott, Founder and CEO of Enlightenment Capital.

Baltimore-based Inner Logic Raises $11.5 Million in Seed Funding

Baltimore – Inner Logic, a Baltimore-based developer of technology used for developing medical devices, announced that it has raised $11.5 million in seed funding. The round was co-led by General Catalyst and Bison Ventures with participation from J2VP, Defined, PTX, Valia Ventures, Page One, Alumni Ventures, and Flare. The three founders of Inner Logic (formerly named Semaphor) have strong roots in Johns Hopkins University.

“Surgery is on the same path as autonomous driving, which became real once the industry built the simulation and data systems to show a car could drive itself. At Inner Logic, we are building that layer for all of procedural medicine starting with the way devices are designed and tested. When device makers can develop and prove intelligent systems this way, the quality of a patient’s care stops depending on which hospital they can access or which surgeon is on call,” said Tito Porras, MD, Co-Founder and CEO, Inner Logic.

Baltimore-based Savano Capital Closes on $252 Million Fund

Baltimore – Savano Capital Partners, a fund focused on secondary investments in technology companies, announced the final close of its newest fund with $252 million in capital commitments. The company focuses on the secondary market, purchasing stock from individual shareholders and early investors in private, high-growth companies.

“The secondary market has moved from the edge of private markets to the center,” said Matt Good, Chief Operating Officer of Savano. “Great software companies now take a decade or longer to reach an exit, and the value created along the way needs a release valve. Founders, employees and early investors need practical ways to realize a portion of that value, and companies want those transactions handled thoughtfully and aligned with their long-term objectives. Savano was built for both sides of that equation.”

DC-based Avenue Growth Raises $155 Million for New Fund

Washington, D.C. – Avenue Growth Partners, a D.C.-based early growth equity firm, announced the close of its second fund at $155 million. Among Avenue’s investments from its first fund were Hive and Minga. “AI is making it possible for small teams to build deeply embedded products in industries that were historically too complex or specialized to automate,” said Brian Goldsmith, Co-Founder and Partner of Avenue Growth Partners. “The founders we back are building AI-native platforms in sectors including labs, trucking, legal, and equipment dealerships — categories where the next great technology companies will be built.”

DC-based Prefect Acquires SF-based Dagster Labs

Washington, D.C. – Prefect, the D.C.-based AI and data automation software company, announced that it has reached an agreement to acquire San Francisco-based Dagster Labs, the developer of AI orchestrator technology. Financial terms of the deal were not disclosed. “For years, Prefect and Dagster raised the bar for each other, and as a result, we built two of the most popular tools in the data ecosystem,” said Jeremiah Lowin, founder and CEO of Prefect. “Together, we’re consolidating the category around our shared vision while also building the best foundation for the next generation of AI automation.”

Coco Robotics Launching Delivery Service in D.C.

Washington, D.C. – Coco Robotics, the urban robot delivery startup backed by OpenAI’s Sam Altman, announced that it will begin operations in the District of Columbia. The company’s robots offer delivery service for restaurants and stores. “Washington, D.C. marks another important step in building the future of local commerce,” said Zach Rash, Co-Founder and CEO of Coco Robotics. “Great cities deserve delivery infrastructure that works for everyone - not just customers, but restaurants, workers, and neighborhoods. Our goal isn’t simply to make deliveries more efficient.”

Maryland Tech Council Names New Board Members

Rockville, Md. – The Maryland Tech Council has named new members to its board of directors. They will serve for a two-year term. The new directors are:

• Fouad Atouf, Ph.D, USP Convention

• Jay Gelfman, MaxCyte, Inc.

• Liz Pujolas, Amgen USA

• Daniel Mendelsohn, Venable

• Megan Norris, growth[period]

• Jared Smith, Montgomery County Economic Development Corporation

Mid-Atlantic MarCom Summit - Oct. 14

Briefly Noted

(Reston, Va.) ASRC Federal, a Reston-based government contractor, has named Mike Manzo as its new president and CEO. Manzo, who formerly worked at General Dynamics, succeeds Jennifer Felix.

(McLean, Va.) Guidehouse, the McLean-based professional services firm, has named Kelly Hernandez as CFO and Stuart Brown as Chief Transformation Officer. Hernandez was formerly CFO at Clark Construction Group. Brown joined Guidehouse in 2025.

(Arlington, Va.) CoStar Group, the Arlington-based real estate data and marketplace giant, has named Robin Rossmann as CFO, succeeding Christian Lown. Rossmann was previously Managing Director of Europe for CoStar Group.

McLean-based Trase Raises $107 Million for AI Platform

McLean, Va. – Trase, a McLean-based startup developing an AI agent platform, has raised $107 million in seed funding. The round was led by ARCH Venture Partners, with participation from Red Cell Partners and others. The company’s technology is focused on “high-stakes environments” in the healthcare and government space that follow strict compliance and governance requirements. Trase, co-founded by CEO Grant Verstandig and President Baskar Sridharan, now has 55 employees, with hubs in McLean and Seattle.

“In the age of AI, powered by the sovereignty, predictability, and trustworthiness that Trase’s OS delivers, agents are handling the onerous, immutable tasks that bog down highly trained individuals,” said Verstandig. “Shifting that valuable mental capacity to higher-acuity work will help make the most important systems in the United States cheaper, faster, and better for every American.”

Arlington-based Marlinspike Partners Raises $127 Million Fund

Arlington, Va. – Marlinspike Partners, a McLean-based venture capital firm investing in dual-use technologies for both national security and commercial applications, announced the final close on its second fund at $127 million. The fund – Marlinspike Disruptive Technology Fund II – will invest in early-stage companies in AI, autonomous systems, advanced manufacturing, and other emerging sectors. Investors in the fund include family offices, Conway Investment Solutions, and institutional investors including Fairfax County Employees’ and Police Officers Retirement Systems.

“We believe we are transitioning from a human-centric to an autonomy-centric world; from a world run and operated by humans to one run by AI and operated by robotics. We are at the early stages of the transition, and we expect to see meaningful acceleration of U.S. GDP growth in the next few years. We look for bold founders rebuilding the U.S. industrial base through grit and pushing the boundaries of engineering,” said Mislav Tolusic, Managing Partner and Chief Investment Officer at Marlinspike Partners.

Rocket Lab to Acquire McLean-based Iridium for $8 Billion

McLean, Va. – In a move to compete more directly against SpaceX, California-based Rocket Lab, a launch and space systems company, has agreed to acquire McLean-based Iridium Communications for about $8 billion. The move will merge Rocket Lab’s launch capabilities with Iridium’s large satellite communication network.

“This is a defining moment for the space industry and the start of a new era of strategic, accelerated growth for Rocket Lab and Iridium,” said Sir Peter Beck, founder and CEO of Rocket Lab. “Iridium has built the gold standard in secure, safety critical global satellite connectivity. It is relied upon by maritime fleets, the aviation industry, governments, and heavy industrial organizations who operate in the most remote off-the-grid locations. By marrying Iridium’s deep heritage, trusted infrastructure, and highly sought-after spectrum with Rocket Lab’s extensive and proven launch and manufacturing capabilities, we have the capability to unlock entirely new markets.”

UMD Names 11 Awardees for Grand Challenges Grants

College Park, Md. – The University of Maryland has announced the launch of 11 research projects funded by nearly $15 million from its Grand Challenges Grants Program, the university’s initiative to support research across disciplines to solve major world problems. The newly funded projects come from 40 disciplines at the university. The list of grantees is here.

Tysons-based RVNA Acquires SF-based UXB Holdings

Tysons, Va. – RVNA Technologies, a Tysons-based enterprise technology firm, announced the acquisition of San Francisco-based UXB Holdings, a customer experience and work management firm. Financial terms of the deal were not disclosed. RVNA said it plans to combine UXB’s customer experience expertise with its consulting, data and enterprise technology offerings.

“Over the past decade, we built a business centered on customer success, long-term partnerships, and delivering measurable outcomes through innovative technology,” said Bruno Saab, founder and CEO of UXB. “RVNA is the right partner to accelerate that mission and to unlock the next phase of growth for our customers, employees, and partners in the years ahead.”

Arlington Capital Forms New Naval Company Highwater

Bethesda, Md. – Arlington Capital Partners, the Bethesda-based private equity firm focused on government-regulated industries, announced the launch of a new company called Highwater in the naval services space in Australia and the United States. The company is being formed by the combination of Arlington Capital’s portfolio company Eptec Defence, based in Australia, with AMP United.

“Highwater reflects Arlington’s approach to building market-leading platforms in sectors essential to national security,” said Peter Manos, a Managing Partner at Arlington Capital Partners. “As geopolitical competition intensifies and naval fleets face growing operational demands, naval modernization and preservation is essential to fleet readiness.”

McLean-based CrossCountry Acquires Dupont Circle Solutions

McLean, Va. – CrossCountry Consulting, a McLean-based business advisory firm, announced the acquisition of Arlington-based Dupont Circle Solutions (DCS), a technology consulting firm focused on the Salesforce platform. Founded in 2015, DCS has 60 employees. “Joining CrossCountry expands what we can offer our clients, bringing dedicated Salesforce advisory and implementation expertise to their broader set of finance, risk, and transaction services,” said Erin Hatten, co-founder and Managing Director of Dupont Circle Solutions.

Join Us at the 2026 Mid-Atlantic MarCom Summit on Oct. 14 in D.C.

Briefly Noted

(Washington, D.C.) FiscalNote, the struggling policy and regulatory intelligence company that was recently delisted from the NYSE, has named Key Compton as its president and CEO, succeeding Josh Resnik. Compton is the co-Founder and managing director of GPO Fund, and has served as a board member of FiscalNote since 2021.

(Reston, Va.) Tyto Athene, a Reston-based federal systems integrator and portfolio company of Arlington Capital Partners, has named Andrew Boyd as CEO. He succeeds Dennis Kelly, who remains on the company’s board of directors. Boyd was previously IBM’s Consulting Federal Defense and Intelligence Industry Lead.

(Herndon, Va.) Deltek, the Herndon-based platform for project-based businesses, has named Heather Larkin as its CFO, and elevated Tracy Schampers from Chief Legal Officer to Chief Legal and Administrative Officer. Larkin formerly served as SVP of Finance at UKG.

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Join us next week (May 15) for Potomac Tech Wire's GovCon Social Media Marketing Outlook breakfast in Reston.

We're bringing together some of the region’s leading GovCon marketing experts to discuss the unique aspects of social media in government contracting marketing.

Speakers are:
Shab Nassirpour, SVP, Marketing and Communications, Everforth ECS
Ethan…

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Speakers Include:
Mark Amtower, Managing Partner, Amtower & Company
Casey Dell…

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Speakers Include:
• Jon Yim, Managing Directo…

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