While you were gathered around the kitchen table for Thanksgiving dinner, D.C.’s tech hub enjoyed its own massive harvest. In the month of November, six local companies brought in a total of $359.6 million in funding. Normally, we give you the top five of these funding rounds but with the D.C. tech hub growing, competition is fierce and two companies are tied in our ranking this month. Read on to learn about how these businesses are putting those funds to work.
#6. $9.3 million, November 30
Closing on a $9.3 million Series A round on the last day of November, Strivacity is a customer identity and access management (CIAM) provider that offers a no-code platform user identity management. The company allows brands to keep customer data secure without sacrificing time to develop user data and authentication features from scratch. With Strivacity, companies can manage user identity, access and consent management across platforms all in one place. The platform also helps brands make sure their products and services are in compliance with privacy regulations. The fresh funding will be used to accelerate research and development as well as expand its go-to-market investments.
#4 (tied). $10 million, November 9
The Arlington-based cybersecurity company offers a platform for security teams to create threat emulations based on real-world data. SCYTHE’s product is modular, making customization for company needs easy and allowing teams to validate the efficacy of tools to shareholders and justify company spending. The $10 million Series A funding round is being used for hiring for SCYTHE’s engineering, sales, marketing and customer service teams.
#4 (tied). $10 million, November 18
D.C.-based Hydrosat uses thermal infrared imagery to gather and analyse data about the temperature of the Earth’s surface, specifically looking at the “water stress” of a given area. Water stress is when a plant isn’t able to cool itself down through evapotranspiration due to a lack of moisture. This can lead to droughts and other agricultural problems associated with climate change. The company plans to use it’s $10 million seed funding to build and launch its first satellite to take its own measurements some time next year.
#3. $45 million, November 15
Based in Annapolis, Netography is a cybersecurity company focussed on securing what it calls “atomized networks,” the complex combination of cloud, on-premise and legacy infrastructures that most enterprises use today. Netography claims that its network detection and response SaaS is the only product on the market built to secure these types of networks. The $45 million in funding will go toward hiring new talent and developing new enhancements for its product.
#2. $140.3 million, November 18
This cybersecurity company’s Series E round of $140.3 million catapulted it into unicorn status with a valuation of over $1 billion. Expel’s mission is to make high-quality security accessible to everyone, which is why its primary customers are growth-stage companies. Its managed detection and response services securely cover every aspect of a company’s network from ransomware attacks by learning each of its clients’ unique digital environments. The new funding is allocated for product research and development, go-to-market plans, partnership expansion and global expansion.
#1. $145 million, November 8
The Herndon-based data analytics company specializes in space-based radio frequency (RF) mapping. It uses satellite constellations to detect, characterize and geolocate a broad range of RF signals. Customers of HawkEye 360 use its data and analysis in a variety of ways from tracking down illegal fishing operations to assisting national defense operations. The company plans to use the $145 million Series D investment to expand satellite constellation and complementary infrastructure.
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