SAN FRANCISCO, Jan. 18, 2023 – Vannevar Labs, which develops cutting-edge technologies to address vital national security issues, announced a USD 75 million Series B round. Felicis led the investment, which included new investors DFJ Growth and Aloft VC, as well as existing General Catalyst, Point72 Ventures, Costanoa Ventures, and Shield Capital.
This takes Vannevar’s total investment to more than USD 90 million. The business intends to use the fresh funding to support the development of new products and to win Decrypt’s first multi-year program.
Vannevar’s core product, Decrypt, assists public servants involved in military and foreign policy choices in understanding, targeting, and responding to foreign actors in previously unimaginable ways. Decrypt has been implemented across 15 of the government’s most critical agencies since its inception in January 2021, and sales have hit USD 25 million. In late 2022, the business released two new items in new mission areas.
“We exist to bring the greatest technical and product expertise to the most critical national security challenges,” stated Vannevar Labs CEO Brett Granberg. “With this financing, we will be able to invest considerably more active in R&D for the items we are developing with the government.”
Aydin Senkut, Felicis’ Founder and Managing Partner:
“We’ve been investing in frontier AI for over a decade, and few uses of AI are as critical as defense technology. Vannevar Labs has already shown a great capacity to get breakthrough technology into the hands of the defense community. We are happy to continue to assist this remarkable team as they work to improve national security.”
DFJ Growth partner Jocelyn Kinsey:
“Vannevar has swiftly emerged as an indispensable partner to the national security community, delivering unique data, insights, and real-time information that reveals the evolving panorama of potential threats. We are thrilled to use our military industry knowledge to assist Vannevar in delivering technical innovation and mission vital information that helps defend the nation.”
Vannevar Labs was created in Palo Alto, California, in 2019. The team consists of national security operators and intelligence analysts, as well as high-performing engineers and Silicon Valley product creators. This combined experience is used by the corporation to collaborate with the government to develop technologies for the country’s most pressing mission concerns.
We try our best to fact-check and bring the best, well-researched, and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!