Potomac Tech Wire - March 19
Arlington-based Sands Capital Closes on $1.1 Billion Fund
o Arlington-based Sands Capital Closes on $1.1 Billion Fund
o Arlington-based Cape Raises $100 Million in Series C;
o McLean-based Claros Raises $30 Million
o Federal Cloud Provider Knox Systems Raises $25 Million
o Arlington-based Carecubes Raises $6.5 Million in Series A
o Chorus Intelligence Raises $20 Million; US HQ in Virginia Beach
o Alexandria-based Yes& Acquires Atlanta-based Metaleap Creative
> Tech Wire Event: M&A Outlook 2026 - April 15 (Reston, Va.)
o Briefly Noted: Maryland Tech Council - 2026 ICON Awards, Red Cell Partners - Sean O’Keefe
Arlington-based Sands Capital Closes on $1.1 Billion Fund
Arlington, Va. – Sands Capital, the Arlington-based technology-focused growth equity firm, announced that it has successfully closed its newest fund – Global Innovation Fund III – with commitments of $1.1 billion. Limited partners in the new fund include the Canada Pension Plan Investment Board and funds managed by Hamilton Lane. Sands said it will continue its “concentrated approach” of investing in about 10 companies per fund that will likely include many AI investments.
“Technological innovation continues to accelerate, particularly as artificial intelligence begins to reshape how businesses are built and scaled. We believe the most compelling opportunities will emerge in a small number of exceptional companies, and our strategy is built around partnering closely with those teams over the long term,” said Michael Clarke, managing partner at Sands Capital.
Arlington-based Cape Raises $100 Million in Series C; Creating Privacy-Focused Mobile Carrier
Arlington, Va. – In one of the largest venture rounds this year, Cape, an Arlingotn-based “privacy-first” mobile carrier, announced that it has raised $100 million in a Series C round. The round was co-led by Bain Capital Ventures and IVP with participation from new investors 01 Advisors, 137 Ventures, Definition, and Fifth Down Capital. Cape said its privacy focused carrier is aimed at U.S. government agencies, along with businesses and individuals concerned about their privacy.
“Cell phone networks track everywhere you go, every app you use, every person you call or text,” said John Doyle, CEO of Cape. “So when they’re compromised, it leads to some of the most sweeping and damaging violations of both national security and individual privacy in history. There’s no app, no add-on that fixes problems inherent in the underlying cellular network itself, so we’ve redesigned a telco from scratch to close this gap.”
McLean-based Claros Raises $30 Million for Power Management Platform
McLean, Va. – Amid a sharp rise in power consumption by data centers used by AI companies, Claros, a McLean-based power management technology company, has raised $30 million in seed funding. The round was co-led by General Catalyst and Red Cell Partners with participation from Systemiq Capital, Aero X Ventures, Trenches Capital, and others. The company, which has offices in McLean and Torrance, California, is developing a platform for managing energy distribution and minimizing energy losses.
“We can’t ignore the immense energy demands that come with AI workloads and the strain they place on electrical grids throughout the United States and around the world. To address these concerns, we must reinvent the entire power system with meaningful solutions that minimize energy waste so data centers can unlock greater efficiency and productivity,” said Daniel Kultran, co-founder and CEO of Claros. “At Claros, we are committed to responsible power delivery – from the chip all the way to the meter. In the 13 months since our launch out of stealth, we’ve worked tirelessly to resolve this issue, demonstrating significant progress toward efficiency gains that point to a larger opportunity across the entire power stack.”
Federal Cloud Provider Knox Systems Raises $25 Million
New York, NY - Knox Systems, a federal cloud provider using AI, announced that it has raised $25 million in Series A financing. The round was led by B Capital and also included M12, Microsoft’s Venture Fund, Okta Ventures, MongoDB Ventures, Hearst Ventures and Benchstrength. The company, with its headquarters in New York and a presence in the DC area, raised $6.5 million in a seed round last summer.
“This raise not only allows us to expand federal authorization capacity at a moment when agencies urgently need access to modern, secure technology, but is a natural extension for commercial adoption,” said Irina Denisenko, CEO of Knox Systems. “This investment enables Knox to deliver a faster, lower‑cost path for SaaS vendors to meet federal security requirements and reach government customers in a matter of weeks, not years. Knox has established itself as the government‑grade security model that commercial organizations can rely on for their most critical production environments.”
Arlington-based Carecubes Raises $6.5 Million in Series A Funding
Arlington, Va. – Carecubes, an Arlington-based healthcare company, has raised $6.5 million in Series A funding. The company has developed isolation units built for rapid deployment aimed at preventing the spread of infectious diseases in healthcare facilities. The company was initially funded by the Defense Advanced Research Projects Agency (DARPA), and has also received backing from the Centers for Disease Control and Prevention (CDC) and the Administration for Strategic Preparedness and Response (ASPR).
“With the Carecube, a family member can look through the clear walls, touch their loved one through a protective sleeve, and know they are still present,” said Henrietta Fore, former Executive Director of UNICEF and former Administrator of USAID. “That simple act of connection matters everywhere, whether in the Democratic Republic of Congo, rural Nebraska, or New York City.”
Chorus Intelligence Raises $20 Million; US HQ in Virginia Beach
Virginia Beach, Va. – Chorus Intelligence, a UK-based provider of digital intelligence and investigative software with its U.S. operations based in Virginia Beach, announced that it has raised $20 million from UK-based Maven Capital Partners for global expansion. Chorus’ software is used for data management by law enforcement and government agencies. “Digital intelligence is becoming an essential component of modern investigations, and the business has capitalized on increasing regulatory pressures surrounding law enforcement, government and corporations to deliver impressive growth,” said Tom Purkis, a partner at Maven.
Alexandria-based Yes& Acquires Atlanta-based Metaleap Creative
Alexandria, Va. – Yes&, the Alexandria-based marketing and creative agency, announced that it has acquired Atlanta-based branding and design agency Metaleap Creative. Financial terms of the deal were not disclosed. The move follows Yes&’s earlier acquisition of Atlanta-based Hothouse. “For Yes&, the acquisition reflects a broader industry shift toward design-driven brand leadership at a time when organizations across industries face mounting pressure to clarify their identity and show up consistently across increasingly fragmented channels,” Yes& said in a news release about the deal.
Tech Wire Event: M&A Outlook 2026 - April 15 (Reston, Va.)
Briefly Noted
(Rockville, Md.) The Maryland Tech Council has announced the finalists for the 2026 ICON Awards. These awards recognize leadership, innovation, and impact in the Maryland technology community. The list of finalists is available here.
(McLean, Va.) Red Cell Partners, a venture studio and incubator, has named Sean O’Keefe as its Deputy Chief Technology Officer. O’Keefe previously was senior vice president of engineering at Function Health, and has also held roles at Google.