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POTOMAC TECH WIRE -- Jan 18
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Sponsored by: Lowenstein Sandler: Find Out if Your Startup is Running Afoul of Domestic Trade Controls
o Curbio Raises $65 Million for “Pay-at-Closing” Home Improvement Offerings
o DC-based Verica Raises $12 Million; Uses “Chaos Engineering” for IT Security
o Godspeed Capital Acquires Linthicum-Based Exceptional Software Strategies
o Venetoulis Institute Choose Downtown Baltimore for Banner Newsroom
o Chantilly-Based CTSI Acquires Structure Works
> Find Out if Your Startup is Running Afoul of Domestic Trade Controls
o Briefly Noted: Virginia Leaders in Export Trade, sbLiftOff, NeoSystems
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> Lowenstein Sandler: Is Your Startup is Running Afoul of Domestic Trade Controls
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o Curbio Raises $65 Million for “Pay-at-Closing” Home Improvement Offerings
Potomac, Md. – Curbio, the Potomac, Md.-based tech-infused real estate home improvement startup, announced that it has raised $65 million in a Series B round. The round was led by Revolution Growth, with participation from existing investors Camber Creek, Comcast Ventures, Brick & Mortar Ventures and Second Century Ventures, along with new investors Kayne Partners and Masco Ventures. The company has now raised a total of $93 million. "The home renovation market is massive and a large portion of that spend happens in Curbio's wheelhouse with pre-sale upgrades," said Patrick Conroy, a partner at Revolution Growth. "Curbio's technology-enabled solution addresses a major mismatch in the U.S. housing market – more than 80% of homes are over 15 years old and more than half of new buyers are millennials seeking modern layouts and finishes in their new homes.”
o DC-based Verica Raises $12 Million; Uses “Chaos Engineering” for IT Security
Washington, DC – Verica, an IT security company using “chaos engineering” to constantly verify system resiliency, announced it has raised $12 million in a Series A round led by Intel Capital. True Ventures and Mango Capital also participated in the round. The company has now raised a total of $17 million. “Chaos engineering and continuous verification ensure that our customers' systems are secure, and this round of funding will ensure we can continue to innovate to keep up with market needs,” said Aaron Rinehart, co-founder and CTO of Verica. “We are excited to be at the forefront of how our industry is handling outages and incidents by building safer, more reliable software.”
o Godspeed Capital Acquires Linthicum-Based Exceptional Software Strategies
Linthicum Heights, Md. -- Godspeed Capital Management, a DC-based private equity firm focused on defense and government services, said it has acquired Linthicum-based Exceptional Software Strategies (ESS), a provider of information technology to defense and intelligence agencies. Financial terms of the deal were not disclosed. ESS offers capabilities in cyber, software and systems engineering, and geographic information systems, working with a broad array of national security agencies and maintaining a strong presence in Fort Meade, Md. Now, ESS will join Godspeed's recently formed high-end cyber and technology platform holding company.
o Venetoulis Institute Choose Downtown Baltimore for Banner Newsroom
Baltimore -- The nonprofit Venetoulis Institute for Local Journalism said it has signed a multi-year lease on 15,000-square-feet of office space in Downtown Baltimore to serve as the headquarters of The Baltimore Banner, a new digital newspaper that will take on The Baltimore Sun. The space, located in Spark Flex in the Pier IV office building, will house up to 100 employees for the Institute and include a state-of the-art newsroom for The Banner. The Institute, founded last year by Maryland businessman and philanthropist Stewart Bainum Jr., is preparing to launch The Banner later this year. Bainum, who unsuccessfully attempted to buy The Sun from hedge fund Alden Global Capital, is planning an annual operating budget of $15 million.
o Chantilly-Based CTSI Acquires Structure Works
Chantilly, Va. -- Corbett Technology Solutions, a Chantilly-based systems integrator focused on fire, security, critical communications, collaboration, IT and audiovisual tools, said it has acquired New York-based Structure Works, which designs and installs card access, CCTV and alarm systems. Financial terms of the deal were not disclosed. The move gives CTSI new offices in several international markets, including Canada, India, the U.K. and Brazil. "We now expand our capabilities internationally with the ability to support accounts throughout their global footprint," said CEO Joe Oliveri. Corbett now has made seven acquisitions since partnering with Wind Point Partners in mid-2020.
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> Lowenstein Sandler: Helping D.C. Area Tech Innovators Meet Today's Legal and Regulatory Challenges.
Lowenstein Sandler is a law firm serving technology leaders throughout the greater D.C. metro area. The lawyers in our rapidly growing D.C. office work hand-in-hand with some of the most innovative entrepreneurs and business executives in the region. We partner with our technology clients to design strategic, effective solutions to their legal and regulatory challenges so they can focus on what they do best: innovate, build, and deliver the products, software, and services that lead our world into the future.
Find out if your startup is running afoul of domestic trade controls, by clicking here for a recent report on the matter by Lowenstein Sandler.
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o Briefly Noted:
(Richmond, Va.) Fifteen companies have graduated from the Virginia Economic Development Partnership's Virginia Leaders in Export Trade (VALET) program. VALET, which now has more than 300 graduated companies, is a two-year international business acceleration program designed to assist exporters that have firmly established domestic operations and are committed to international exporting as a growth strategy. A complete list of the latest graduates is at the link below.
(Herndon, Va.) Herndon-based sbLiftOff, a lower middle-market M&A advisory firm, has named Jordan Gersh as its director of mergers and acquisitions. Gersh most recently served as the senior director of global investment strategy and product insights at FIS Global, where he led R&D of banking and payment technologies.
(Tysons, Va.) Tysons-based NeoSystems, a strategic outsourcer, IT systems integrator and managed services provider to the government contractor market, has named Susan Mitchell as its CFO. She previously served as the company's vice president of professional services for ERP systems.The company also has named Brad Wolf as its senior vice president of IT operations.
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> KPMG’s QuantumShift Empowers Entrepreneurs and Transforms Businesses
Quantum Shift is a high-end learning and peer-to-peer networking experience from May 1-6, 2022 for entrepreneurial CEOs/founders to discover innovative leadership strategies and capitalize on growth opportunities. Please apply by January 31, 2022 and contact kkaetzel@kpmg.com or cmangasarian@kpmg.com with any questions. Apply now.
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Services:
======
To Post a Services Listing, Click Here
> Lowenstein Sandler: Helping D.C. Area Tech Innovators Meet Today's Legal and Regulatory Challenges.
Lowenstein Sandler is a law firm serving technology leaders throughout the greater D.C. metro area. The lawyers in our rapidly growing D.C. office work hand-in-hand with some of the most innovative entrepreneurs and business executives in the region. We partner with our technology clients to design strategic, effective solutions to their legal and regulatory challenges so they can focus on what they do best: innovate, build, and deliver the products, software, and services that lead our world into the future.
Find out if your startup is running afoul of domestic trade controls, by clicking here for a recent report on the matter by Lowenstein Sandler.
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