o Richmond-based Phlow Raises $37 Million in Series C
o Vienna-based Knexus Acquires Massachusetts-based S4
o Fairfax-based GovCIO to Acquire Herndon’s SoldierPoint
o Bethesda-based Marriott Acquires Tech-Savvy Hotel Brand citizenM
o Women in Technology Names Daphne Wotherspoon as President
o Arlington-based Torev Named "People's Choice Award" Winner
o Briefly Noted: TargetSmart, Crypto Council for Innovation
Richmond-based Phlow Raises $37 Million in Series C
Richmond, Va. – Phlow, a Richmond-based advanced pharmaceutical contract manufacturer, announced that it has closed on $37 million in a Series C round. The round was led by Align Private Capital LLC, and also included new and follow-on investors. Phlow is focused on using innovative technologies in its manufacturing process.
“We are excited to support the Phlow team as they address the inefficiencies and challenges in the current U.S. pharmaceutical supply chain. In particular, we applaud the company’s initiatives to prevent pediatric drug shortages, to advance state-of-the-art tech-enabled API manufacturing, and to support the U.S. military,” said Anna Nekoranec, CEO of Align Private Capital.
Vienna-Based Knexus Acquires S4 to Expand Reach for Federal AI Tools
Vienna, Va. – Knexus, a Vienna-based developer of artificial intelligence tools for the federal government, said on Thursday it has acquired Massachusetts-based S4, a provider of intelligence analysis, cybersecurity and IT services to the government. Financial terms of the deal were not disclosed. Knexus said the move will allow it to further expand its deployment of AI tools, offering federal agencies a new level of intelligent automation and predictive analysis.
"By integrating S4's proven cybersecurity, analytic and IT services with our AI-driven approach, we can be more creative and proactive in addressing the government's challenges,” said Adam Lurie, the CEO of Knexus. “This isn't just about expanding our capabilities; it's about building more resilient, intelligent and effective technology support systems that allow us to do right by our government partners and the missions they serve."
Fairfax-Based GovCIO to Acquire Herndon’s SoldierPoint Digital
Fairfax, Va. – GovCIO, a Fairfax-based provider of technology and services to the federal government, said on Wednesday it will acquire Herndon-based SoldierPoint Digital Health from owner Iron Bow Technologies. Financial terms of the deal, expected to close by the end of September, were not disclosed. SoldierPoint, a spinout of Iron Bow, is exclusively focused on digital health tools supporting the Department of Veterans Affairs (VA). The company supports key programs at the Veterans Benefits Administration and Office of Information and Technology. Jim Brabston, the CEO of GovCIO, said the move will help his company “expand our mission supporting veterans through our significant business with the Department of Veterans Affairs.”
Bethesda-Based Marriott Acquires Tech-Savvy Hotel Brand citizenM
Bethesda, Md. – Marriott International, the Bethesda-based hospitality giant and one of the largest IT employers in the DC area, said it has completed its acquisition of the citizenM brand, which operates 37 hotels in the U.S., Europe, and Asia Pacific. Financial terms of the deal, first announced in April, were not disclosed. Founded in 2008, citizenM caters to what Marriott calls “a growing demographic of value-conscious travelers looking for technology-driven accommodations.” Marriott said it will now begin the process of integrating the citizenM portfolio into its systems and platforms.
Women in Technology Names Daphne Wotherspoon as President
Falls Church, Va. – Women in Technology (WIT), the Falls Church-based organization supporting professional women in the DC-area technology community, has named Daphne Wotherspoon, the U.S. markets director of sales for Akkodis in the Capitol Region, to succeed Lisa Shea Mundt as its president for 2025-26. Wotherspoon has served on the WIT board in varying roles for more than six years, and was also its president in 2020-21. The complete board of directors is available here.
Arlington-based Torev Named "People's Choice Award" Winner
Arlington, Va. – Torev Motors, an Arlington-based developer of electric motors that don’t rely on rare earth minerals, was named the "People's Choice Award" winner at this month’s Accelerate Breakfast Series event in Reston. Torev was one of five companies that pitched at the event. Torev’s new motor is designed to eliminate the use of rare earth magnets.. "Our mission is to drive high performance innovation, lower supply chain costs for our customers, and ultimately offer a practical solution to a problem that has for too long gone unrecognized,” said Rory Brogan, CEO of Torev Motors.
Briefly Noted
(Washington, DC) DC-based TargetSmart, a provider of political data for campaigns and advocacy organizations, has named Michael Muller as a new senior strategist. Muller previously spent nearly three decades advising legislative leaders in Illinois, New Jersey and New York on campaigns ranging from local to presidential.
(Washington, DC) The DC-based Crypto Council for Innovation (CCI), an organization tasked with advancing innovation in cryptocurrency, has named Ji Hun Kim as its CEO. Kim has served as the organization’s president and acting CEO since January, following his tenure as its chief legal and policy officer, and earlier was a senior executive at Gemini.