Potomac Tech Wire - Aug. 22
o McLean-based DEFCON AI Raises $44 Million in Seed Funding
o Rockville-Based Autosled Tops Locals in New Inc. 5000
o Gaithersburg-based Ark Infotech Acquires Vantyr
o Everfox Completes Acquisition of Garrison Technology
o Bethesda-Based Lockheed Martin to Acquire Terran Orbital
o DC-Based CalypsoAI Promotes Donnchadh Casey to CEO
o Rockville-Based Sepio Lands New Investment from Tau Capital
o Briefly Noted: TEDCO, CACI International, SAIC, Cadmus
McLean-based DEFCON AI Raises $44 Million in Seed Funding
McLean, Va. – DEFCON AI, a McLean-based developer of advanced simulation and analysis technology for military applications, announced that it has raised $44 million in seed funding. Bessemer Venture Partners led the round. Other investors in the round included Fifth Growth Fund and Red Cell Partners.
“At DEFCON AI, we are developing powerful solutions to reshape response planning in contested and disrupted environments,” said Yisroel Brumer, co-founder and CEO. “We bring to the DoD our capacity to very quickly field transformational software innovation so that defense leaders and planners have the tools they need to effectively coordinate operations and plan around disruptions. Our ability to do this dramatically improves the odds of materiel and manpower making it to their destinations without delay.”
Rockville-Based Autosled Tops Locals in New Inc. 5000
Rockville, Md. – Autosled, the Rockville-based developer of an online marketplace for car dealers, transporters and auctioneers, is the highest-ranked local company on the newly released 2024 Inc. 5000, a list of the fastest-growing private companies in the United States based on three-year revenue growth. Autosled came in at No. 12 with three-year revenue growth of 14,001%. Other locals in the top 100 include Rockville-based Chaberton Energy (No. 34), Laurel-based Panda Exteriors (No. 50), Ashburn-based Blu Omega (No. 53), Lansdowne-based Fortreum (No. 78) and DC-based CaryHealth (No. 82). New Jersey-based Vytalize Health topped the list with three-year revenue growth of 90,779%. The complete list is here.
Gaithersburg-based Ark Infotech Acquires Vantyr
Gaithersburg, Md. – Ark Infotech, a Gaithersburg-based cybersecurity firm, announced that it has acquired Silicon Valley-based Vantyr, a cloud and SasS security firm. Financial terms of the deal were not disclosed. "The acquisition of Vantyr enhances our cybersecurity portfolio, integrating Vantyr's advanced SaaS security with our existing slauth.io platform,” said Raj Natarajan, the president & CEO of Ark. “This combination strengthens our offerings, providing a comprehensive solution to address security challenges across cloud and SaaS environments, equipping our clients to better protect their digital assets."
Herndon-Based Everfox Completes Acquisition of Garrison Technology
Herndon, Va. – Everfox, the Herndon-based cybersecurity firm formerly known as Forcepoint Federal, said it has completed its acquisition of London-based counterpart Garrison Technology. Financial terms of the deal, first announced in June, were not disclosed. Everfox said the move will bolster its software portfolio of cross domain, threat protection and insider risk tools with Garrison’s hardware-enforced security and software capabilities, expanding its offerings for customers in government and regulated industries.
Bethesda-Based Lockheed Martin to Acquire Terran Orbital
Bethesda, Md. – Lockheed Martin, the Bethesda-based defense technology giant, said it will acquire Florida-based Terran Orbital, a developer of satellite-based tools supporting the aerospace and defense industries, in a deal valued at $450 million. The deal is expected to close late this year, with Terran remaining a commercial merchant supplier. Lockheed uses Terran Orbital's satellites for its work, most notably with the Space Development Agency's Transport and Tracking Layer programs, and in several of its self-funded technology demonstrations. Lockheed initially invested in the company in 2017.
DC-Based CalypsoAI Promotes Donnchadh Casey to CEO
Washington, DC – CalypsoAI, the DC-based developer of an AI security platform, has named Donnchadh Casey as its new CEO. Casey, most recently the company’s COO, succeeds founder Neil Serebryany, who will remain a member of the board. He previously served as the chief customer officer at Qualtrics. Founded in Silicon Valley in 2018, CalypsoAI has secured $38.2 million in funding since its inception from investors including Paladin Capital Group, Lockheed Martin Ventures, Lightspeed Venture Partners, 8VC, Hakluyt Capital, and Empros Capital.
Rockville-Based Sepio Lands New Investment from Tau Capital
Rockville, Md. – Sepio, a Rockville-based developer of hardware fingerprinting technology designed to help users better manage their IT assets' risk, said it has landed a new investment from Tau Capital to extend its second round of funding. Specific financial terms of the deal were not disclosed. The company, which now has raised $48 million since its inception, said it will use the funds to expand its customer-facing activities in response to growing product demand. It also will provide additional resources for Sepio's recently introduced Hardware Detection and Response managed service. Previous investors have included U.S. Venture Partners, Hanaco Ventures, Munich RE Ventures, Merlin Ventures, Citi Ventures, Pico Partners and Stanford University, among others.
Briefly Noted:
(Columbia, Md.) The Maryland Technology Development Corp (TEDCO) said it has promoted Kim Mozingo to vice president of federal programs. In this role, Mozingo will lead seven programs designed to transform federal scientific research into economic growth and new job opportunities for small businesses.
(Reston, Va.) Reston-based government technology contractor CACI International said it has won a task order valued at up to $239 million to provide intelligence analysis and operations to U.S. Army Europe and Africa. Under the six-year deal, the company support missions such as monitoring and responding to transnational vulnerabilities, armed conflict, violent extremism, global terrorism, illicit trafficking, the proliferation of weapons of mass destruction and infectious disease.
(Reston, Va.) Reston-based technology integrator Science Applications International Corp. (SAIC) said it has won three contracts worth a combined $58.2 million. Under the deals, the company will support the Airborne Electronic Attack Integrated Product Team Jammer Technique Optimization Program, the International Programand the AEA IPT EA-18G Program.
(Arlington, Va.) Arlington-based strategic and technical consultancy Cadmus said it has won a $200 million contract from the United States Agency for International Development (USAID). Under the deal, the company will help drive digital integration and expansion across the agency’s technical and regional sectors.