Potomac Tech Wire - Jan. 21
Richmond-based ASGN Acquires Chicago-based Quinnox for $290 Million
o Richmond-based ASGN Acquires Quinnox for $290 Million
o DC-based Andromeda Ventures Launches; Focus on Space
o Richmond-based AnswersNow Raises $40 Million in Series B
o DC-based Security Bulldog Raises $400,000 in Pre-Seed
o Baltimore-based TechRow Raises $500,000 From TEDCO
o Drug Information Association Launches Initiative for Startups
o Maryland-based Rapid Care Acquires NY-based DeepDoc
> GovCon Outlook 2026 - Reston - Jan. 28
o Briefly Noted: Virtru, Everfi
Richmond-based ASGN Acquires Quinnox for $290 Million
Richmond, Va. – ASGN, the publicly traded, Richmond-based IT services company, announced that it will acquire Chicago-based Quinnox, a digital services company, for $290 million in cash. ASGN’s stock price jumped 5% on Wednesday. Quinnox, founded in 2002, provides a variety of digital technology and application services to enterprise clients. ASGN recently announced that it will change its name to Everforth.
“Integrating Quinnox’s global delivery platform and deep expertise will allow us to immediately deliver scalable, efficient digital engineering solutions that meet evolving enterprise needs,” said Shiv Iyer, president of ASGN. “By leveraging Quinnox’s robust technology capabilities with partners like AWS, Databricks, Salesforce, SAP, and Calypso, powered by their scaled offshore digital engineering footprint, we will co-create agile, future-ready solutions.”
DC-based Andromeda Ventures Launches; Focus on Space and Defense
Washington, DC – Andromeda Ventures, a new DC-based investment firm focused on space and defense startups, has formally announced its launch. The firm, founded by former NASA executive Christyl Johnson and investor Christian Elam, said it will invest in pre-seed through Series A startups “across space, defense, energy, health, and AI-enabled autonomy.” “Many technologies required to operate in extreme environments also strengthen resilience here on Earth,” said Johnson. “Andromeda helps founders move faster from mission validation to deployable commercial solutions.”
Richmond-based AnswersNow Raises $40 Million in Series B
Richmond, Va. – AnswersNow, a Richmond-based developer of virtual therapies for autism, announced that it has raised $40 million in Series B funding. The round was led by HealthQuest Capital, with participation from existing investors Left Lane Capital, Owl Ventures, and others. The company’s platform connects Board-Certified Behavioral Analysts (BCBAs) virtually with families for personalized therapy sessions.
“The data shows that by exclusively using Master’s- and PhD-level BCBAs for targeted parent training, in combination with our AI-enabled, focused therapy for children, we can achieve equal or better outcomes at a fraction of the time and cost,” said Jeff Beck, CEO of AnswersNow. “Our powerful care-delivery model makes proven autism therapy accessible for families and financially sustainable for payors.”
DC-based Security Bulldog Raises $400,000 in Pre-Seed
Washington, DC – The Security Bulldog, a DC-based startup that has developed an AI-powered cybersecurity intelligence platform, has raised $400,000 in pre-seed financing. The round was led by Right Side Capital Management, with participation from angel investors. The company’s platform analyzes open-source cyber intelligence from a wide variety of sources, including databases, threat news, and podcasts, and then delivers curated feeds to customers.
“The Security Bulldog exists because cyber teams are overwhelmed—they don’t have time to save time,” said founder and CEO Jeff Majka. “This pre-seed round enables us to double down on our mission to give security analysts an AI-powered copilot that automatically distills the firehose of cyber intelligence into the few things that truly matter for their environment.”
Baltimore-based TechRow Raises $500,000 From TEDCO
Columbia, Md. – TEDCO, the Maryland economic development agency, announced a $500,000 investment in Baltimore-based TechRow, a streaming platform for events. The investment came from TEDCO’s Inclusion Fund and Venture Funds.
“TechRow’s platform strives to utilize AI to make existing video content instantly usable as on-demand guidance, turning passive video libraries into tools for learning and support,” said Jean-Luc Park, deputy chief investment officer and senior director, Social Impact Funds. “We look forward to their continued success, for them and the Maryland entrepreneurial ecosystem.”
Drug Information Association Launches Initiative for Biotech Startups
Washington, DC – The Drug Information Association, the DC-based nonprofit life science association, announced the launch of two new initiatives to support early-stage biotechnology drug development innovation. The initiatives, called DIA ASCENT and LIFT (Linking Innovation, Funding, and Translation) aim to link emerging biotech and startup companies with investors, and other leaders in the life sciences industry, along with providing an accelerator program. “With ASCENT and the LIFT Series Program, we are extending that mission earlier in the innovation journey providing emerging companies with the insight, connections, and visibility needed to advance promising science and strengthen the entire ecosystem,” said Marwan Fathallah, CEO of DIA.
Maryland-based Rapid Care Acquires NY-based DeepDoc
Edgewater, Md. – Rapid Care, a Maryland-based healthcare technology company using AI, announced that it has acquired New York City-based DeepDoc, a company using AI for medical records management. Financial terms of the deal were not disclosed.
“DeepDoc represents a powerful combination of advanced AI and deep healthcare domain expertise,” said Venkat Laxman, President and CEO of Rapid Care. “Its ability to rapidly synthesize complex medical records into accurate, actionable summaries delivers immediate value to our customers and aligns with our mission to remove friction across healthcare workflows.”
Briefly Noted
(Washington, DC) Virtru, a DC-based data security company, has named Angel Smith as its President of Global Public Sector and John Dancy as Executive Vice President of Customer Solutions and Engineering. Smith joins Virtru from Microsoft. Dancy most recently was Chief Transformation Officer at Nightwing.
(Washington, DC) Everfi, the DC-based finance and skills education company, has named Lee Peters as its COO and Adam Seay as its vice president of finance. Peters has held senior executive positions at Pearson, Scholastic and Learning Ally. Seay formerly worked at Claritas Rx.