Vannevar Labs, a defense tech startup, has announced the completion of a $12 million Series A funding round to continue solving some of the most important national security problems.
Costanoa Ventures and Point72 Ventures led the round which also counted with the participation of top defense investors such as General Catalyst. Investors believe the startup can help national defense technology to advance by combining top software engineering talent from Silicon Valley with government expertise.
The Series A funding round comes after the startup’s seed round closed at $4.5 million, being co-led by General Catalyst and Costanoa Ventures. With the new investments, Vannevar Labs plans to nearly double the size of its team and invest in new product development. Brett Granberg, CEO of Vannevar Lab, referred to the round by stating:
“Our mission is to get the best of American technology to the people that keep our country safe. This new round of funding will allow us to significantly grow our team and develop new technology for some of the most critical national security missions of our time,”
Founded in 2019 and headquartered in Palo Alto, CA, Vannevar Labs’s team not only consists of operators and intelligence analysts from the national security world but also top-performing engineers and Silicon Valley product innovators. The company adopts its expertise in working with the government for developing technology serving the country’s most important mission problems.
Launched in January of this year, Vannevar Labs’ first product Decrypt has been rolled out across a dozen of the most important government agencies. This technology provides new solutions for public servants working military and foreign policy decisions to understand, target, and respond to foreign actors in ways that were impossible in the past.
According to the defense tech startup, the recent success with Decrypt has speeded up its growth over the last six months, including the Other Transaction Authority (OTA) contract with the Department of Defense valued at $40 Million.