Potomac Tech Wire - Feb. 25
DC-based Updata Partners Closes on New $875 Million Fund
o DC-based Updata Partners Closes on New $875 Million Fund
o DC-based Evoke Security Raises $4 Million in Pre-Seed Round
o Victor Hoskins Stepping Down as CEO of Fairfax County EDA
o ERT Acquires Woodbridge, Va.-based Sev1Tech
o NVTC Names Winners of Data Center Awards
o Amentum Opening Global HQ in Reston in 2027
o Procurement Sciences Acquires Rogue AI
o David Mahoney Named New CEO of Fairfax-based Dewberry
o Briefly Noted: REQ, KnowBe4, GOLFZON
DC-based Updata Partners Closes on New $875 Million Fund
Washington, DC – Updata Partners, the DC-based growth equity firm that primarily invests in B2B software firms, announced the final close of its newest fund with $875 million in commitments. Updata, which has raised more than $3 billion in capital commitments since its founding, said the raise was oversubscribed. Updata invests between $20 million and $200 million in each company, and generally seeks to be the first institutional capital investor.
“With Updata VIII, we remain focused on backing software companies with strong fundamentals and dynamic growth profiles,” said Jon Seeber, General Partner of Updata. “AI is accelerating the formation of high-growth, lightly capitalized businesses, and we are excited to support the entrepreneurs building the next generation of market leaders.”
DC-based Evoke Security Raises $4 Million in Pre-Seed Round
Washington, DC – Evoke Security, a DC-based cybersecurity startup focused on security for AI agents, announced that it has raised $4 million in pre-seed funding. The round was led by Crosspoint Capital Partners, with participation from Red Cell Partners. Evoke participated in the 2026 CrowdStrike, AWS, and NVIDIA Accelerator Program.
“Your workforce is doubling, and half of it isn’t human. Existing security tools weren’t built for a world where autonomous agents have the keys to the kingdom,” said Jason Rebholz, co-founder and CEO of Evoke Security. “AI agents are the biggest enterprise security shift in a generation, and security teams are completely in the dark. Evoke turns the lights on.”
Victor Hoskins Stepping Down as President, CEO of Fairfax County EDA
Tysons, Va. – Victor Hoskins, president and CEO of the Fairfax County Economic Development Authority (FCEDA) for the last six years, will be stepping down from the position this fall to return to the private sector. The FCEDA Commission said it will soon begin the search for a replacement. Major companies announcing new locations or expansions in the county during Hoskins’ tenure included Microsoft, Google, Meta, Volkswagen Group of America, StarKist, Amentum, Guidehouse, Qualtrics, Alarm.com, Hilton, Clark Construction, Blue Origin, V2X, and The Aerospace Corporation.
“Victor Hoskins has been an exceptional economic leader for Fairfax County and a strategic force for growth during some of the most competitive and complex times in recent history,” said James Quigley, Chairman of the FCEDA Commission. “Under his leadership, FCEDA secured some of the world’s most innovative companies, ignited meaningful job creation, strengthened key industries, and cemented Fairfax County’s place as a global competitor.”
ERT Acquires Woodbridge, Va.-based Sev1Tech
Greenbelt, Md. – ERT, a Laurel, Md.-based provider of technical services to the government, has acquired Woodbridge-based Sev1Tech, a digital modernization and IT transformation firm focused on national security clients. Terms of the deal were not disclosed. ERT is backed by Macquarie Capital. Sev1Tech has partnered with DFW Capital Partners.
“Today’s missions require reliable, secure and cost-effective solutions built with an understanding of how things actually get done,” said Mark Lee, chief executive officer of ERT. “Sev1Tech’s work with the U.S. Space Force, along with their networking and IT modernization expertise broaden ERT’s capabilities and strengthen our ability to deliver solutions to current customers while opening up new markets for both teams.”
NVTC Names Winners of Data Center Awards
McLean, Va. – The Northern Virginia Technology Council announced the winners of the 2026 NVTC Data Center Awards at an awards banquet last week. According to NVTC’s upcoming 2026 Data Center Economic Impact Report, the industry generates nearly $40 billion in annual economic output and supports more than 112,000 jobs in Virginia. The winners, selected by an independent panel of judges, were:
Community Champion Award
Christopher Lettiere, CoreSite
Data Center Partner of the Year Award
DPR Construction
Rising Star Award
Kelsey McWilliams, HITT Contracting
Sustainable Champion Award
QTS Data Centers
Amentum Opening Global HQ in Reston in 2027
Chantilly, Va. – Amentum, the publicly traded advanced engineering and technology company, announced that it will open its new worldwide headquarters in Reston in 2027. The company, currently based in Chantilly, said it has signed a 45,000-square-foot lease in Reston Station’s Metro Plaza District. “The new headquarters strengthens our ability to deliver integrated solutions aligned with global demand and government priorities, including across our accelerating growth markets of global nuclear energy, space systems & technology, and critical digital infrastructure,” said Steve Arnette, COO of Amentum.
Procurement Sciences Acquires Rogue AI
Washington, DC – Procurement Sciences, a DC-based AI platform for government contractors, announced the acquisition of Rogue AI, a developer of proposal management and workflow automation for government contractors. Financial terms of the deal were not disclosed. Procurement Sciences called the deal a “strategic acquisition.” As part of the acquisition, John Shahawy, the founder of Rogue AI, will now become head of product strategy at Procurement Sciences, which raised $10 million in a Series A round in 2023.
David Mahoney Named New CEO of Fairfax-based Dewberry
Fairfax, Va. – Dewberry, the Fairfax-based professional services firm, has named David Mahoney as its new CEO, effective April 1. He succeeds Donald Stone, Jr. who is retiring. Mahoney joined Dewberry in 1986, and has served as president since May, 2025. Dewberry has 2,500 employees and annual revenue of $763 million.
Briefly Noted
(Washington, DC) REQ, the DC-based digital marketing firm, announced its public relations team will expand into the Phoenix market. “This expansion is part of our strategic growth plan to support clients in key U.S. innovation hubs such as Phoenix,” said Katie Hanusik, EVP and PR practice lead at REQ.
(Arlington, Va.) KnowBe4, a Florida-based risk management platform, announced that it will open a new office in Arlington as part of an expansion in the public sector. “Cybersecurity is a national security imperative, and humans are the most important layer of defense,” said Bryan Palma, president and CEO of KnowBe4. “By expanding in Arlington, we are working side-by-side with federal agencies, local governments, and educational institutions to protect humans and AI agents.”
(Chantilly, Va.) GOLFZON, a golf simulator technology company based in Chantilly, announced a long-term partnership with Pebble Beach Company, the owner of the iconic golf course. Under the deal, GOLFZON’s simulators will anchor new off-course golf and hospitality experiences by Pebble Beach Company.