Potomac Tech Wire - Aug. 27

Alexandria-based pgEdge Raises $10 MM; Co-founded by Phillip Merrick

o pgEdge Raises $10 MM; Co-founded by Phillip Merrick
o Techstars, Hopkins and CareFirst Launch Healthcare Accelerator
o 2024 DataTribe Challenge Receiving Submissions
o Bethesda-Based Lockheed Martin to Acquire Terran Orbital
o Hendon-Based ePlus Acquires Bailiwick Services
o DC-Based U.S. News & World Report Acquires TeenLife
o Briefly Noted: DEFCON AI, Leidos, Guidehouse

Alexandria-based pgEdge Raises $10 MM; Co-founded by Phillip Merrick

Alexandria, Va. – pgEdge, an Alexandria-based startup focused on distributed database management software co-founded by webMethods co-founder Phillip Merrick, announced that it has raised $10 million in a funding round. The financing was led by Rally Ventures with participation from Sands Capital Ventures and Grotech Ventures. pgEdge focused on the PostgreSQL database platform. "pgEdge is at the forefront of innovation in distributed PostgreSQL, a technology that is increasingly critical for enterprises needing ultra-high availability and reduced latency across geographic regions," said Ben Fried, partner at Rally Ventures.

Techstars, Hopkins and CareFirst Launch Baltimore Healthcare Accelerator

Baltimore – Techstars, Johns Hopkins University and CareFirst BlueCross BlueShield said they have collaborated to launch a new healthcare accelerator program designed to support early-stage entrepreneurs aiming to improve care through artificial intelligence. The new program, known as Techstars AI Health Baltimore, will serve as Techstars’ new flagship healthcare accelerator. Adam Phillips, the former managing director of Techstars Equitech, will lead the 13-week program focused on supporting entrepreneurs leading healthtech, medtech, and biotech startups. Startups will receive capital, guidance from experts and other support required to navigate the complexities of the healthcare ecosystem and regulatory environment. The program will take place in-person in Baltimore, with applications accepted through Nov. 20.

2024 DataTribe Challenge Receiving Submissions

Fulton, Md. – DataTribe, a Maryland-based incubator and builder of startups primarily in the cybersecurity space, is currently receiving submission for its 2024 DataTribe Challenge program. The deadline for submissions is Sept. 27 with finalists announced on Oct. 18. Datatribe will pick five finalists that will pitch at a live event. More information is available here.

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 technology supporting the aerospace and defense industries, in a deal valued at $450 million. The deal, expected to close by the end of this year, also provides for Lockheed and other current Terran Orbital creditors to establish a new $30 million working capital facility. Lockheed frequently uses Terran’s satellites, most notably with the Space Development Agency's Transport and Tracking Layer programs and in several of its self-funded technology demonstrations. Lockheed Martin Ventures has been an investor in the company since 2017. This marks the first LM Ventures company that Lockheed has sought to acquire since founding the fund in 2007.

Hendon-Based ePlus Acquires Bailiwick Services

Herndon, Va. – ePlus, a Herdnon-based provider of technology consulting services, said that its ePlus Technology unit has acquired Minnesota-based Bailiwick Services, a provider of outsourced IT services to customers in the retail, financial services, restaurant and hospitality markets. Financial terms of the deal were not disclosed. Bailiwick is now operating as a subsidiary of ePlus Technology. Mark Marron, the president and CEO of ePlus, said the move will allow his company to offer a “full spectrum of technology solutions and services through one provider.”

DC-Based U.S. News & World Report Acquires TeenLife

Washington, DC – U.S. News & World Report, the DC-based digital news and rankings company, said it has acquired Boston-based TeenLife, a provider of online experiential learning opportunities for students in grades 7-12. Financial terms of the deal were not disclosed. Founded in 2007, TeenLife produces online directories, guides, virtual events and newsletters designed to help students, parents and educators make academic and enrichment program decisions. TeenLife will join the company’s College Advisor division, which advises students on collegiate programs and services.

Briefly Noted:

(McLean, Va.) McLean-based DEFCON AI, developer of a modeling, simulation and analysis toolset for the military that recently raised a large funding round, has named Vivek Upadhyaya as its new CFO. Upadhyaya most recently served as the vice president and CFO at Mercury Systems, and previously was the CFO of Leonardo Electronics US.

(Reston, Va.) Reston-based Leidos, a developer of technology in the areas of national security and health, said it has won a contract worth up to $86.4 million from the National Geospatial-Intelligence Agency's Integrated Program Office for Analysis. Under the deal, the company will provide lifecycle management for existing and emerging analytics systems.

(McLean, Va.) McLean-based Guidehouse, a consultancy providing advisory, digital and managed services, has named Robert Partee as its new cloud solutions leader. Partee, who will oversee the development and execution of the company’s cloud strategy, previously served as a managing director at Accenture and senior practice manager at Amazon Web Services.