Potomac Tech Wire - Jan. 28

Reston-based Hypori Closes $35 Million Series B With Additional $12 Million Raise

o Reston-based Hypori Closes $35 Million Series B
o Report: MicroStrategy May Change Name Amid Bitcoin Focus
o DC-Based Opexus Merges with Tysons-Based Casepoint
o Springbok Analytics Secures $5M with NBA Backing
o UMD Renames Entrepreneurship Center to Honor Dean
o Maryland TEDCO Invests in Frederick-Based MSTRO
o Harbor Link Lands $45 Million for I-95 Corridor Fiber Network
o ElectroTempo Receives “People's Choice Award” at Accelerate
o WIT Names Finalists of Annual Leadership Awards
o Briefly Noted: Comscore, Stanton Chase

Reston-based Hypori Closes $35 Million Series B With Additional $12 Million Raise

Reston, Va. – Reston-based Hypori, a startup focused on enterprise app technology for mobile devices, has raised an additional $12 million in its Series B, bringing the total to $35 million. Investors in the round that has now closed included UBS AG, Carahsoft and AE Industrial Partners. Hypori has already signed contracts with the U.S. Air Force, Space Force and Army for its service aimed at securely providing access to mobile apps used for industrial purposes.

“As global threats escalate, organizations are prioritizing mobile security and data protection, while individuals prioritize privacy,” said Jared Shepard, CEO of Hypori. “Hypori’s ability to mitigate risks and simplify compliance for highly regulated industries positions us to make 2025 a landmark year.”

Report: MicroStrategy May Change As It Shifts Its Focus on Bitcoin Holdings

Tysons, Va. – MicroStrategy, the Tysons-based business software company that has become a major holder of bitcoin, may be considering a name change to StrategyB to match its new crypto focus, according to a Washington Business Journal article. In recent years, MicroStrategy has transformed itself into a bitcoin holding company that is increasingly eclipsing its software business. As of Jan. 27, MicroStrategy holds 471,107 bitcoins valued at over $48 billion.

“The Tysons company filed a plan Friday with Fairfax County to replace the exterior "MicroStrategy" building sign at its 1850 Towers Crescent Plaza headquarters with a new sign that reads StrategyB — a clear reference to the business's transformation into a bitcoin bank,” the Washington Business Journal reported. “Historically, the name on the building is the name of the company inside.”

The public filing was reportedly removed on Tuesday after a WBJ reporter inquired about it.

DC-Based Opexus Merges with Tysons-Based Casepoint

Washington, DC – Opexus, a DC-based developer of government process management software, said on Monday it has merged with Tysons-based data discovery technology company Casepoint, with the combined company landing a majority investment from private equity giant Thoma Bravo. Financial terms of the deals were not disclosed. Casepoint shareholders and Opexus’s existing investor, Gemspring Capital, will both retain minority positions in the combined company, which will be based in DC and offers a process management and discovery platform for government and commercial customers in North America. Howard Langsam, CEO of Opexus, will lead the company, with Casepoint founder Vishal Rajpara serving in an unspecified executive role.

“There is a growing need for high-quality data management in the public sector, with government agencies increasingly seeking to be as efficient, transparent and accountable as possible,” said Langsam. “The addition of Casepoint’s data discovery technology and Thoma Bravo’s impressive software and operational expertise will help us meet this demand and accelerate our expansion in the GovTech market, as well as expand our coverage of enterprise customers.”

Charlottesville’s Springbok Analytics Raises $5M with NBA Backing for Muscle Health AI

Charlottesville, Va. – Springbok Analytics, a Charlottesville-based developer of artificial intelligence analytics focused on muscle health, has raised $5 million in its first round of funding, which included an investment from the National Basketball Association (NBA). The company’s technology provides athletes and trainers with data-driven insights to enhance performance and recovery. Chicago-based Transition Equity Partners led the round, which also included participation from Cartan Capital, Boston Global, an Australia-based firm, and others. Springbok has developed an FDA-cleared AI technology that provides detailed muscle health assessments from MRI scans. The technology analyzes muscle and skeletal structures, providing detailed 3D visualizations and metrics, including muscle volume, composition and fat infiltration. The company’s technology is based on work from University of Virginia biomedical engineering professors. Springbok previously participated in the NBA’s Launchpad program, which supports emerging technologies that can support the NBA.

UMD Renames Entrepreneurship Center to Honor Dean

College Park, Md. – The University of Maryland has renamed its Dingman Center for Entrepreneurship as the Dingman-Lamone Center for Entrepreneurship, in recognition of the contributions of Rudy Lamone, longtime dean of the Robert H. Smith School of Business. The name change followed a $3.8 million gift from Linda Lamone. Rudy Lamone established the center, one of the first entrepreneurship centers at a business school, with a gift from founding donor and University alumnus Michael Dingman in 1986, and remained deeply involved in its work until his passing in 2023.

“This transformational gift will significantly strengthen the center’s endowment, enabling us to expand our programs and invest in new opportunities to foster entrepreneurship for the next generation of student innovators, “ said Michael Hoffmeyer, managing director of the Center. “It will also allow us to deepen our support for ventures with greater seed funding and provide long-term sustainability for the center’s mission to nurture entrepreneurial leaders.”

Maryland TEDCO Invests in Frederick-Based MSTRO

Frederick, Md. – Maryland Technology Development Corp. (TEDCO) has invested $500,000 in Frederick-based AI startup MSTRO. The organization made the investment through its Gap Investment Fund, a seed fund that backs early-stage technology companies that are based in the state and can contribute matching funds. MSTRO is developing an AI platform that it says will “unify data access, insight generation and knowledge management.” The company plans to use the funds to advance its research and development.

Harbor Link Lands $45 Million for I-95 Corridor Fiber Optic Network

Baltimore – Harbor Link, a Baltimore-based telecommunications infrastructure company, said on Tuesday it has landed a $45 million investment to complete its 40-mile fiber optic network along the I-95 corridor, connecting key data center hubs in Baltimore and DC. Millennium Syndicated Holdings and ROC Venture Group provided the funding. Harbor Link said the project is “sorely needed to update the existing infrastructure which is outdated or damaged, and is insufficient to support modern data needs and emerging AI technologies.” Harbor Link initially announced the project in 2021, and is aiming to bring the network live by early 2026.

ElectroTempo Receives “People's Choice Award” at Accelerate

McLean, Va. – ElectroTempo, an Arlington-based software company focused on EV charging infrastructure, was awarded the “People's Choice Award” at last week’s Accelerate Breakfast Series in Tysons. "This ‘vote of confidence’ for our approach to solving EV charging infrastructure challenges reinforces our mission to accelerate the adoption of electric vehicles through data-driven planning solutions,” said Ann Xu, CEO of ElectroTempo.

WIT Names Finalists of Annual Leadership Awards

Falls Church, Va. – Falls Church-based Women in Technology (WIT), an organization supporting women in the DC-area tech community, has named the finalists for its 26th Annual Leadership Awards, which honor women shaping the future of the technology industry. All told, there are 45 finalists in nine categories, with winners announced May 15 in Reston.

Briefly Noted:

(Reston, Va.) Reston-based digital audience measurement firm Comscore has named Frank Friedman as its chief data and analytics officer and head of measurement. Friedman, most recently a senior vice president at The E.W. Scripps Co., will oversee the company’s data governance, drive currency adoption efforts and develop tailored measurement playbooks for a variety of customers.

(Washington, DC) Executive search firm Stanton Chase has named Richard Sarmiento as managing director of its DC-based Industrial and Aerospace & Defense sector. Sarmiento, who previously held roles with Raines International, Korn Ferry and Northwind Partners, will focus on strengthening the firm's Aerospace, Defense and Government Services practice.