As the holiday season approaches, D.C. companies have ramped up efforts to close funding rounds before the end of the year. The tech hub continues to grow and fast, particularly in the cybersecurity sector with at least three different companies receiving investment last week. Here’s the lowdown on what you missed. This is the Built In DC weekly refresh.
26 D.C. companies ranked on Deloitte’s 2021 Technology Fast 500 list. The list compiled by the consulting firm ranks companies based on revenue growth during a three-year period, with this year’s ranking looking at data from 2017 to 2020. The D.C. metro area was well-represented with 26 companies making the cut, five of which were ranked in the top 50. These companies include Sales Boomerang, Dragos, Truebill, Expel and GetUpside. [Built In DC]
Expel brought in $140.3M. Speaking of Expel, the cybersecurity startup reached unicorn status last week and is now valued at over $1 billion. With the rise of ransomware targeting companies worldwide, Expel is dedicated to bringing high-quality security to companies big and small. From cloud applications and infrastructure to networks and endpoints, Expel leaves no leaf unturned when it comes to preventative cybersecurity measures. Expel will use the recent funding to invest in product research and development, fuel amplified sales and go-to-market plans, expand partnerships and accelerate international expansion. [Built In DC]
Netography raised $45M. The company claims it’s software is the only product on the market that protects “atomized networks,” a term Netography uses to refer to the hybrid cloud and onsite networks most enterprises use today. The software ingests network metadata from multiple systems and enriches it to increase data visibility and make attack detection easier to manage. The latest funding round will be used to hire additional staff and develop new tech enhancements. [Built In DC]
D.C. Tech Quote of the Week
Hydrosat got $10M. The data and analytics company uses infrared technology to assess water stress on the Earth’s surface. The company is currently using third-party satellite imagery to give insights on how climate change is affecting agriculture, wildfires and even military missions. The new funds, however, will allow Hydrosat to launch its first satellite through Space X next year. Hydrosat’s satellite will be able to gather specific, real-time temperature data and offer more exact, customized analytics to its customers. [Built In DC]
Edtech company 2U acquired fellow elearning platform edX for $800M. Together the companies will offer more affordable education options to degree seekers and mid-career professionals looking to level up in their field. EdX will remain its own brand with 2U serving as its parent company. The acquisition also adds several edX leaders to 2U’s executive team. [Built In DC]
SnapAttack raised $8M. The company, which recently spun out from Booz Allen, offers proactive threat detection and prevention through threat emulation based on real-world data collaboratively contributed from users. Essentially, SnapAttack’s platform is an ethical hacker’s paradise. The company is hiring new talent in product, engineering and sales and plans to expand the content types on its platform with the new funding. [Built In DC]