Potomac Tech Wire - July 24
DC-based State Affairs Raises $70 Million From High Profile Investors
o DC-based State Affairs Raises $70 Million From Leading Investors
o Arlington-based Twenty Raises $30M at $1.2 Billion Valuation
o Enlightenment Capital Invests in DC-based Quorum
o Baltimore-based Inner Logic Raises $11.5 Million in Seed Funding
o Baltimore-based Savano Capital Closes on $252 Million Fund
o DC-based Avenue Growth Raises $155 Million for New Fund
o DC-based Prefect Acquires SF-based Dagster Labs
o Coco Robotics Launching Delivery Service in D.C.
o Maryland Tech Council Names New Board Members
> Mid-Atlantic MarCom Summit (Special Rate)
o Briefly Noted: ASRC Federal, Guidehouse, CoStar Group
DC-based State Affairs Raises $70 Million From Leading Investors
Washington, D.C. – State Affairs, a D.C.-based regulatory intelligence company, announced that it has raised $70 million in funding. Investors include Founders Fund, Khosla Ventures, Tru Arrow Partners, Alumni Ventures, and individual investors including Marcus Brauchli, Alex Mather, Adam Hansmann, and Richard Sarnoff. Using AI and its own intelligence platform, State Affairs provides daily reporting and analytics used by its customers to respond to policy and regulatory developments.
“Policy and regulatory markets are often more impactful to organizations than financial markets, yet everybody from voters to companies are often the last to know what’s happening,” said Evan Burns, co-founder and CEO of State Affairs. “State Affairs helps organizations proactively understand and engage with policy markets at scale across the U.S.”
Arlington-based Twenty Raises $30M at $1.2 Billion Valuation
Arlington, Va. – Following on its recent $100 million Series B round, Twenty, an Arlington-based startup focused on cyber warfare, announced that it has received an additional investment of $30 million from Khosla Ventures at a valuation of $1.2 billion. The company has now raised a total of $168 million. Twenty is focused on “offensive” cyber warfare technologies.
“Our thesis here is simple. AI is reshaping the world and the US and its allies need an AI-native cyberwarfare prime capable of protecting our most critical interests. That prime is Twenty,” said Jon Chu, the Partner at Khosla Ventures. “Every major national security domain needs a prime that can operate at the speed of AI while delivering commercial grade execution and earning mission level trust. I’ve searched for a company that fits this thesis for years, but have never found a team with the necessary depth across AI, cyber, and defense until now.”
Enlightenment Capital Invests in DC-based Quorum
Washington, D.C. – Enlightenment Capital, the Chevy Chase-based aerospace and defense investment firm, announced that it has made a strategic investment in Quorum, an AI-based platform for public affairs firms. Quorum’s platform is used by businesses, trade associations, non-profits and government agencies. It provides legislative tracking, stakeholder engagement, grassroots advocacy, PAC management and other services used by public affairs officials. “Quorum has built the platform of record for government affairs teams, and the company’s leadership in agentic AI represents the kind of category-defining innovation we invest behind,” said Devin Talbott, Founder and CEO of Enlightenment Capital.
Baltimore-based Inner Logic Raises $11.5 Million in Seed Funding
Baltimore – Inner Logic, a Baltimore-based developer of technology used for developing medical devices, announced that it has raised $11.5 million in seed funding. The round was co-led by General Catalyst and Bison Ventures with participation from J2VP, Defined, PTX, Valia Ventures, Page One, Alumni Ventures, and Flare. The three founders of Inner Logic (formerly named Semaphor) have strong roots in Johns Hopkins University.
“Surgery is on the same path as autonomous driving, which became real once the industry built the simulation and data systems to show a car could drive itself. At Inner Logic, we are building that layer for all of procedural medicine starting with the way devices are designed and tested. When device makers can develop and prove intelligent systems this way, the quality of a patient’s care stops depending on which hospital they can access or which surgeon is on call,” said Tito Porras, MD, Co-Founder and CEO, Inner Logic.
Baltimore-based Savano Capital Closes on $252 Million Fund
Baltimore – Savano Capital Partners, a fund focused on secondary investments in technology companies, announced the final close of its newest fund with $252 million in capital commitments. The company focuses on the secondary market, purchasing stock from individual shareholders and early investors in private, high-growth companies.
“The secondary market has moved from the edge of private markets to the center,” said Matt Good, Chief Operating Officer of Savano. “Great software companies now take a decade or longer to reach an exit, and the value created along the way needs a release valve. Founders, employees and early investors need practical ways to realize a portion of that value, and companies want those transactions handled thoughtfully and aligned with their long-term objectives. Savano was built for both sides of that equation.”
DC-based Avenue Growth Raises $155 Million for New Fund
Washington, D.C. – Avenue Growth Partners, a D.C.-based early growth equity firm, announced the close of its second fund at $155 million. Among Avenue’s investments from its first fund were Hive and Minga. “AI is making it possible for small teams to build deeply embedded products in industries that were historically too complex or specialized to automate,” said Brian Goldsmith, Co-Founder and Partner of Avenue Growth Partners. “The founders we back are building AI-native platforms in sectors including labs, trucking, legal, and equipment dealerships — categories where the next great technology companies will be built.”
DC-based Prefect Acquires SF-based Dagster Labs
Washington, D.C. – Prefect, the D.C.-based AI and data automation software company, announced that it has reached an agreement to acquire San Francisco-based Dagster Labs, the developer of AI orchestrator technology. Financial terms of the deal were not disclosed. “For years, Prefect and Dagster raised the bar for each other, and as a result, we built two of the most popular tools in the data ecosystem,” said Jeremiah Lowin, founder and CEO of Prefect. “Together, we’re consolidating the category around our shared vision while also building the best foundation for the next generation of AI automation.”
Coco Robotics Launching Delivery Service in D.C.
Washington, D.C. – Coco Robotics, the urban robot delivery startup backed by OpenAI’s Sam Altman, announced that it will begin operations in the District of Columbia. The company’s robots offer delivery service for restaurants and stores. “Washington, D.C. marks another important step in building the future of local commerce,” said Zach Rash, Co-Founder and CEO of Coco Robotics. “Great cities deserve delivery infrastructure that works for everyone - not just customers, but restaurants, workers, and neighborhoods. Our goal isn’t simply to make deliveries more efficient.”
Maryland Tech Council Names New Board Members
Rockville, Md. – The Maryland Tech Council has named new members to its board of directors. They will serve for a two-year term. The new directors are:
Fouad Atouf, Ph.D, USP Convention
Jay Gelfman, MaxCyte, Inc.
Liz Pujolas, Amgen USA
Daniel Mendelsohn, Venable
Megan Norris, growth[period]
Jared Smith, Montgomery County Economic Development Corporation
Mid-Atlantic MarCom Summit - Oct. 14
Briefly Noted
(Reston, Va.) ASRC Federal, a Reston-based government contractor, has named Mike Manzo as its new president and CEO. Manzo, who formerly worked at General Dynamics, succeeds Jennifer Felix.
(McLean, Va.) Guidehouse, the McLean-based professional services firm, has named Kelly Hernandez as CFO and Stuart Brown as Chief Transformation Officer. Hernandez was formerly CFO at Clark Construction Group. Brown joined Guidehouse in 2025.
(Arlington, Va.) CoStar Group, the Arlington-based real estate data and marketplace giant, has named Robin Rossmann as CFO, succeeding Christian Lown. Rossmann was previously Managing Director of Europe for CoStar Group.