Potomac Tech Wire - May 21
European Early-Stage VC ScaleWolf Opens Office in Alexandria
o European VC ScaleWolf Opens Office in Alexandria
o Richmond-based Procurement Sciences Acquires HigherGov
o Vox Media Sells Major Assets to Lupa Systems
o Herndon-based Team Velocity Acquires Foundation Direct
o McLean-based Cycurion Acquires Seattle-based Halo Privacy
o Chad Kettering Named New CEO of Germantown-based HTL
o Exit Planning Institute Launches D.C. Chapter
o Briefly Noted: MANTECH, BriefCatch, Prism Layer
European Early-Stage VC ScaleWolf Opens Office in Alexandria
Alexandria, Va. – ScaleWolf, a European early-stage venture capital firm focused on dual-use technologies, announced the opening of a new office in Alexandria, Va. The office will focus on investments in the United States. ScaleWolf, which is based in Lithuania, focuses on defense technologies that could be used by NATO countries.
“Opening our Alexandria office represents an important milestone in ScaleWolf’s long-term strategy to build a premier platform for dual-use investment and operational scale,” said David Harden, managing partner of ScaleWolf. “The Washington region provides unparalleled access to government stakeholders, institutional capital, mission-focused industry partners, and emerging technology ecosystems shaping the future of allied resilience, infrastructure modernization, and defense innovation.”
Richmond-based Procurement Sciences Acquires HigherGov
Richmond, Va. – Procurement Sciences, a Richmond-based developer of government contractor proposal management technology, announced the acquisition of HigherGov, an AI-driven intelligence company for government contractors with a presence in NYC and D.C. Financial terms were not disclosed.
“Data is the new oil, but in government contracting, the real advantage is turning opportunity, award, agency, competitor, teaming, and pricing intelligence into action,” said Christian Ferreira, CEO of Procurement Sciences. “With HigherGov, we now have one of the most extensive government contracting data layers in the market across federal, state and local, grant, and historical award data.”
Vox Media Sells Major Assets to Lupa Systems
Washington, D.C. – Vox Media, the digital media company that was founded in DC, announced that it has sold its podcast business, along with New York Magazine and Vox, to Lupa Systems, the media holding company founded by James Murdoch. The purchase was reportedly over $300 million. The remaining assets of Vox Media – including Eater, Popsugar, SB Nation, The Dodo and The Verge - will remain in an independent company that will take on a new name.
“Separating into two distinct companies best sets up our brands, shows, businesses, talent, and teams to continue to lead and prosper in the changing media landscape,” wrote Jim Bankoff, co-founder of Vox, who formerly held a senior position at Dulles-based AOL. “Each company will be better positioned to grow within a focused portfolio of complementary businesses. Lupa’s investments in Tribeca Enterprises and Art Basel reflect the same belief in culture, creativity, and talent that defines New York Magazine, Vox, and the podcast network, a business that has become our v over the past five years.”
Herndon-based Team Velocity Acquires Foundation Direct
Herndon, Va. – Team Velocity, a Herndon-based provider of a marketing and technology platform for auto dealerships, has acquired Ashburn-based Foundation Direct, a digital agency founded by former Google automotive executives. Financial terms of the deal were not disclosed. Foundation Direct will continue to operate as an independent unit. “We are combining elite digital strategy with the power of the Apollo platform. We’ve admired their approach for years, and together, we are providing a ‘concierge-level’ digital strategy that the industry has been demanding,” said David Boice, CEO of Team Velocity.
McLean-based Cycurion Acquires Seattle-based Halo Privacy
McLean, Va. – Cycurion, a McLean-based cybersecurity company, announced that it has made a strategic acquisition of Seattle-based Halo Privacy, a developer of secure and “privacy-first” communication tools. Financial terms of the deal were not disclosed.
“We also see tremendous opportunity on the corporate side to expand this business, as secure communications are paramount in today’s business world when conducting sensitive operations,” said Kevin Kelly, CEO of Cycurion. “With AI-powered applications like Halo Link, we are bringing the same government-grade protection to investment banks, healthcare organizations, R&D-intensive enterprises, law firms, and C-suite executives who demand the highest levels of privacy and security.”
Chad Kettering Named New CEO of Germantown-based HTL
Germantown, Md. – Herrick Technology Laboratories (HTL), a Germantown-based signals intelligence company backed by Blue Delta Capital Partners, has named Chad Kettering as its new CEO. Previous CEO Acie Vickers has moved to the position of chairman of the board of directors as he addresses a serious health issue, according to the company. Kettering was the former VP of Engineering for HTL. Prior to HTL, Kettering was a Senior Mechanical Engineer at DRT, which was acquired by Boeing. “Chad is the right person to lead HTL at this critical time and I am thrilled the Board of Directors unanimously and enthusiastically agreed with my recommendation to make him the new CEO,” said Vickers.
Exit Planning Institute Launches D.C. Chapter
Washington, D.C. – The Exit Planning Institute (EPI), an educational and peer organization focused on business exit planning, has announced the launch of its D.C. chapter. Christopher Kaiser is the president of the local chapter, which recently held its inaugural meeting. The leadership team of the D.C. chapter is listed here.
Briefly Noted
(Washington, D.C.) Prism Layer, a D.C.-based enterprise risk management platform, has named Liam Kenneally as chief revenue officer. Kenneally formerly worked at Stratyfy. Prism Layer came out of stealth last month with pre-seed funding from Fenway Summer, Plural VC, and various DC angel investors.
(Herndon, Va.) MANTECH, the Herndon-based defense contractor, has promoted Sarah Carter to SVP and Chief Growth Officer (CGO). Prior to MANTECH, Carter worked at Ernst & Young and Irving Burton Associates
(Washington, D.C.) BriefCatch, a D.C.-based writing platform for legal professionals, has named Yoel Lavie as its chief operating officer. Lavie previously served as General Counsel at VIDAA.