Vannevar Labs, which provides state-of -the-art technology to overcome critical national security problems, announced a $75M Series B. The investment was led by Felicis with new investors DFJ Growth and Aloft VC and existing General Catalyst, Point72 Ventures, Costanoa Ventures, and Shield Capital. This brings Vannevar’s total funding to over $90M raised. The company plans to use new capital to fund development of new products and win the company’s first multi-year program from Decrypt.
Vannevar’s flagship product, Decrypt, helps public servants working on military and foreign policy decisions understand, target, and respond to foreign actors in ways previously not possible. Decrypt, has been deployed across 15 of the most important agencies in the government since launching in January of 2021 and has reached $25M in sales. The company launched two additional products in new mission areas in late 2022.
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“We exist to bring the best engineering and product talent to the most important national security problems,” said Brett Granberg, CEO at Vannevar Labs. “This funding will allow us to much more aggressively invest in R&D for the products we’re fielding with the government.”
“We’ve been investing in frontier AI for over a decade and there are few applications of AI as important as defense technology,” said Aydin Senkut, Founder and Managing Partner of Felicis. “Vannevar Labs has already demonstrated a strong ability to get innovative tech into the hands of the defense community. We’re proud to support this talented team as they continue their mission to increase national security.”
“Vannevar has quickly emerged as an invaluable partner to the national security community, providing unique data, insights and real-time intelligence that surfaces the growing landscape of emerging threats,” said Jocelyn Kinsey, partner at DFJ Growth. “We are excited to leverage our experience in the defense sector to help Vannevar deliver technological innovation and mission critical information that helps secure and protect our nation.”
SOURCE: PR Newswire