HawkEye 360 Inc. has closed $58 million in new funding which will be used to develop new space systems and expand analytics that support high-value defense missions.
This Series D-1 round was led by funds and accounts managed by BlackRock (NYSE: BLK) with additional funding provided by Manhattan Venture Partners and existing investors that include Insight Partners, NightDragon, Strategic Development Fund (SDF), Razor’s Edge, Alumni Ventures, and Adage Capital.
HawkEye 360 has 21 satellites on-orbit and plans to move to a new Block 3 satellite architecture, starting with Cluster 14 and beyond. The company is also investing further in artificial intelligence (AI), data fusion, and multi-intelligence orchestration to better extract value from the large amount of RF data being collected. The goal is to simplify analysis for customers.
WilmerHale acted as legal counsel for HawkEye 360 in connection with the transaction. Goodwin Proctor LLP acted as legal counsel for BlackRock in connection with the transaction.
“HawkEye 360 has disrupted what used to be a static defense intelligence domain. The company is the quintessential example of how a commercial operation could service the intelligence needs of the U.S. and our allies. They have built a growing market with government customers and are proof that private-sector innovation and leadership will help enable peace through strength, deter future conflict, and ensure global stability.” — Jared Carmel, Managing Partner and General Partner, Manhattan Venture Partners
“HawkEye 360 continues to make the world a safer place through advanced RF analytics – including addressing maritime, environmental, and national security needs,” said . “We’ve learned much over the past four years delivering data to the most demanding customers in the world. We’ll use this funding to drive our next steps in innovation. It speaks volumes that these leading investment firms are confident in the future of RF geospatial intelligence as a critical defense technology.” — John Serafini, CEO, HawkEye 360 CEO
“We invest in first-class startups that have proven innovative technology, where we can come alongside to accelerate their growth. Governments and commercial customers are asking for better intelligence and, with its full chain of control from orbit to analytics, Hawkeye 360 is leading the way for this new category of RF space-based data.” — Matt Singer, Managing Director, BlackRock