Cordo joins Evolution as the firm expands its capital base, team, and access to best-of-breed cybersecurity and AI software companies amidst growing investment opportunities.

NEW YORK, March 6, 2025 — Evolution Equity Partners, a leading venture capital investor, is thrilled to announce that John Cordo has joined the firm. John joins a team of thirty investment professionals and eight general partners focused on investing in best-of-breed cybersecurity and AI companies. He serves as an Evolution Board Observer to Halcyon and Torq.

Cordo brings over a decade of experience as a cybersecurity investor. John started his career at Blackstone, where he invested from the Blackstone Innovations venture corporate capital portfolio in early-stage cybersecurity companies. Most recently, John specialized in cybersecurity investing with growth equity firm Brighton Park Capital. Notable investments over John’s career include Silverfort, Immuta, HUMAN, BigID, CloudGenix (acquired by Palo Alto Networks), CloudKnox (acquired by Microsoft), Respond Software (acquired by FireEye), and SKOUT Cybersecurity (acquired by Barracuda Networks). John graduated magna cum laude with a BS in Finance, Accounting, and Economics from the Carroll School of Management Honors Program at Boston College.

“Evolution recently completed a $1.1 billion capital raise expanding our capital base, team, and access to best-of-breed cybersecurity software companies amidst growing investment opportunities,” said Richard Seewald, founder and managing partner of Evolution Equity Partners. “We are thrilled to welcome John Cordo to the Evolution team. His extensive experience coupled with strong leadership skills make him an integral addition to our team.”

“Evolution Equity Partners is a differentiated firm due to its cyber-dedicated investors, operators, entrepreneurs, and technologists,” said Cordo. “I look forward to applying my experience alongside this talented team to drive impact and innovation.”

About Evolution Equity Partners

Evolution Equity Partners, based in New York City, Palo Alto, London and Zurich, partners with rapidly growing cybersecurity and AI software companies that safeguard our digital world. The firm was founded by investor and technology entrepreneurs Richard Seewald and Dennis Smith, who manage and lead the firm, and its partners have been involved as founders, investors and as senior operating executives in leading software companies around the world. Evolution has invested in over fifty cybersecurity companies, building a growing portfolio of market leaders. Learn more at www.evolutionequity.com and follow us on LinkedIn and Twitter.

SOURCE Evolution Equity Partners

The company will use growth capital to enhance its products, scale its team and expand market share

MOORESVILLE, N.C., March 6, 2025 — PetScreening^®, which offers the rental housing industry’s first and leading pet policy management software at no cost to property owners and managers, today announced it has received $80 million in Series B funding. The funding round was led by leading technology-focused investment firms Volition Capital and Guidepost Growth Equity. PetScreening will use the funding to continue to grow the company’s market presence, build its team and bring innovative products focused on maximizing pet- and assistance animal-related compliance to market.

“We could not be more appreciative of the support of these highly respected growth equity firms,” said John Bradford, founder and CEO of PetScreening. “PetScreening has built a clear reputation as the industry’s premier pet management and assistance animal compliance platform. We’ve done this in large part because our solutions and our team offer housing providers unparalleled support in complying with the Fair Housing Act and other applicable regulations. As we move forward, we’re excited about our ability to innovate and provide clients even more valuable tools to ensure compliance, reduce risk and manage onsite pet and animal populations.”

PetScreening now serves more than 7 million rental units in the multifamily, single-family, student, affordable, manufactured and military base sectors nationwide. Since its launch in 2017, the company has helped owners and operators capture nearly $300 million in pet-related revenue that otherwise would have been lost. Over 1.3 million reasonable accommodation requests for assistance animals have been created through its platform. 

“After an extensive review of the pet management and assistance animal compliance market, it was clear that PetScreening is the category leader,” said Chris Cavanagh, General Partner at Guidepost Growth Equity. “The company has built an outstanding reputation among property owners and managers by offering the most sophisticated compliance capabilities in the industry while maintaining a seamless experience for renters. We are excited to partner with John and the PetScreening team as they continue to expand their market leadership.”

PetScreening currently has more than 135 employees and occupies 32,000 square feet of modern, pet-friendly office space in Mooresville, N.C. The company, which plans to significantly expand its headcount this year, has been recognized on the Inc. 500 and Deloitte Technology Fast 500 lists, and was included in the Charlotte Business Journal’s 2024 Fast 50 ranking. PetScreening also has continued to innovate for pet owners by launching a no-cost, one-of-a-kind “Amber Alert” service for lost dogs (FidoAlert) and cats (TabbyAlert) and acquiring a veterinarian-driven content asset, BetterPet.com.

“PetScreening is pioneering how property managers and pet owners navigate pet policies and risk management,” said Roger Hurwitz, Managing Partner at Volition Capital. “The team is executing against its vision of creating a holistic pet management platform for the rental housing market and has quickly become the gold standard in the industry. PetScreening has the domain expertise, market-leading solution and resources to capture this significant untapped market opportunity with its strong value proposition for both operators and consumers.”

PetScreening makes it easy for renters to share information about their pets while helping property owners apply pet policies fairly and consistently. Through the PetScreening platform, a rental applicant enters information about their pets into the only centralized pet-screening database to analyze rental housing-related risk. The platform weighs various pet-related factors, including a community’s specific restrictions, such as breed, weight and age. This provides property owners with a streamlined process to comprehensively assess a specific pet and pet owner who wants to live at a rental property. Non-pet owning residents fill out a free profile to demonstrate they are aware of the community rules and will adhere to them should they acquire, foster or sit for a pet/animal during their stay. PetScreening also evaluates reasonable accommodation requests for service animals and support animals within the rental housing industry.

About PetScreening
Offering the industry’s first and leading pet policy management software, PetScreening helps housing providers manage residents’ pets and assistance animals for free while generating opportunities for pet-related revenue. The digital screening platform standardizes risk-assessment for household pets by providing a digital Pet Profile and FIDO Score^® for each pet screened. PetScreening also streamlines the assistance animal accommodation request review process while following HUD guidelines, and it helps limit unauthorized pets. The platform seamlessly integrates with third-party software such as Yardi, OneSite, Entrata, ResMan, Rent Manager, Appfolio, Buildium and many more. As a fast-growing innovator in the rental housing technology space, PetScreening has received multiple awards and honors in recent years, including recognition from the Inc. 5000, Deloitte’s Technology Fast 500, the NC TECH Awards and the Charlotte Business Journal’s Fast 50. For more information, visit www.petscreening.com.

About Guidepost Growth Equity
Guidepost Growth Equity is a leading core growth equity firm that partners with entrepreneur-led companies utilizing technology to transform industries within application and infrastructure software and tech-enabled and data services. Current and prior investments include ActiveViam (acquired by Nordic Capital), ClassWallet, Lucid (acquired by Cint Group AB), Mineral (acquired by Mitratech), OutSystems, Traction on Demand (acquired by Salesforce), and Tractive. The firm is headquartered in Boston, MA.

Guidepost Growth Equity provides the flexible capital, operational assistance, and strategic guidance necessary to support the continued success of high-growth businesses and has over $1.9 billion of capital under management. For more information, please visit their website. 

About Volition Capital
Volition Capital is a Boston-based growth equity firm that principally invests in high-growth, founder-owned companies across the software, Internet, and consumer sectors. Founded in 2010, Volition has over $1.7 billion in assets under management and has invested in and/or provided sub-advisory advice to more than 60 companies in the United States and Canada. The firm selectively partners with founders to help them achieve their fullest aspirations for their businesses. For more information, visit www.volitioncapital.com.

Media Contact
Stephen Ursery
LinnellTaylor Marketing
303-682-3945
[email protected]

SOURCE PetScreening

Strategic Support and Media Resources to Accelerate U.S. Expansion for Global Startups 

REDWOOD CITY, Calif., March 5, 2025 — Mercurius Media Capital (MMC) announced the launch of Mercurius Bridge, a strategic initiative designed to support international companies with established product-market fit in their home countries that are looking to scale business in the U.S. The program integrates media capital investments with a curated network of local service providers, streamlining market entry and accelerating brand growth.

As the first dedicated U.S. media-for-equity fund, MMC leverages pooled media inventory from a diverse range of media partners to invest in high-growth startups and enterprises. Mercurius Bridge provides international companies with access to critical resources, strategic networks, and expert guidance—including consumer engagement strategies and connections to key go-to-market media partners.

“We offer more than just media investment,” said Piyush Puri, Founding Partner of MMC. “Our approach is rooted in strategic mentorship, ensuring that companies don’t just enter the U.S. market but establish a strong and sustainable presence. By leveraging insights from seasoned operators and collaborating with premium media partners, we craft tailored solutions that help startups overcome market-entry challenges, build brand equity, accelerate long-term growth with confidence.”

MMC’s model has supported U.S. market expansion for international companies, including Deskera (Singapore) and Airtasker (Australia). Mercurius Bridge leverages a global network of Venture Partners—comprising current and former executives from leading firms in the UK, Australia, Canada, Israel, India, and Singapore to provide geographic market specific expertise and identify high growth opportunities.

This network includes professionals like Tania Yuki, Principal at Levalois. “Expanding into the U.S. is a major leap, even for companies with strong local traction,” says Yuki. “Success depends on the right go-to-market strategy, effective advertising, and local expertise; otherwise, millions can be wasted. I’m excited to help the next wave of global innovators scale successfully.”

The program’s initial Venture Partner network also includes Shambhavi Mishra, Head of Portfolio and Growth at Antler, and Eli Mandelbaum, Founder of PluggedIn BD, among others.

MMC’s founding partners, Puri and Gajwani, have over 30 years of experience in media, venture capital, and bridge transactions, specializing in helping companies expand into new markets. Over the past 15 years, they have facilitated cross-border growth through media capital, supporting 50+ investments.

For more Information, visit https://www.mmc.us/mercuriusbridge

About Mercurius Media Capital
MMC, launched in December 2023, is the first U.S.-based media-equity venture fund with ~$90 million in committed capital. Co-founded by Satyan Gajwani and Piyush Puri, MMC builds on over 15 years of experience driving media capital transactions at The Times of India Group, facilitating ~$3 billion in media-based investments. MMC has partnered with leading media platforms, including Sinclair Broadcast Group, Televisa Univision, Atmosphere TV, and others, to offer high-growth startups and enterprises access to distinct, large-scale advertising inventory in exchange for equity. This fund has backed several companies, including Deskera, Captain Experiences, Airtasker, Edly, and other companies.

Media Contact:
Interdependence PR 
Angelic Venegas
[email protected] 

SOURCE Mercurius Media Capital

DALLAS, March 5, 2025 — WATTER, a groundbreaking company reimagining compute efficiency through energy repurposing, has successfully closed a $5 million seed round led by Hunt Innovative Technologies and 17Shoals Inc. The funding commitment marks a key milestone as WATTER spins out from Hunt Innovative Technologies, positioning itself to scale its revolutionary distributed compute model to use waste heat from compute devices to heat water in residential homes and commercial properties.

James Hancock, former NASA Data Scientist, Founder of Parasanti, and entrepreneur, will serve as WATTER’s CEO, bringing deep expertise in edge computing, energy markets, and scalable product innovation.

Hunt Innovative Technologies, a subsidiary of Hunt Energy, has played a pivotal role in incubating WATTER, and its leadership remains a key part of the company’s vision.

“We are excited to see the team at WATTER enter this next stage as an independent startup with strong capital backing to provide advanced compute horsepower in a unique environmental and grid stability enhancing way,” said Todd Benson, Chief Innovation Officer for Hunt Innovative Technologies.  “We feel confident that the WATTER solution solves a significant challenge facing humanity today by delivering support for accelerating AI compute demands while bringing economic value to homeowners and businesses alike.”  

“WATTER is revolutionizing the intersection of computing and energy efficiency, and I could not be more excited to be part of this journey,” said Hunter Hunt, CEO of Hunt Energy.  “By turning wasted heat into a valuable resource, WATTER not only reduces grid demand but also enhances resiliency and unlocks a new, sustainable model for energy utilization. This is the kind of innovation the energy industry has been waiting for.”

“I am very excited about our new venture, WATTER. I am looking forward to its positive impact in commercial markets and local communities. I am so excited to see a technology that solves environmental and grid infrastructure challenges, while relieving financial pressure on economically challenged homeowners,” said Tracey Maynor of 17Shoals.

“The compute market is at an inflection point, with demand surging and energy constraints becoming a critical challenge. WATTER’s model not only improves energy efficiency but also redefines the economics of distributed compute,” said James Hancock, CEO of WATTER.  “This funding enables us to deploy more prototypes, validate our technology for scale, and position WATTER as the most energy-efficient compute solution available.”

With this funding, WATTER will focus on scaling pilot deployments, securing key partnerships, and laying the foundation for future expansion as it prepares for a Series A raise. For additional information, visit https://watter.com.

Media Contact:  Paul Schulze, 214-978-8534, [email protected]

SOURCE Hunt Energy

NEW YORK, March 5, 2025 — CoverForce, a leading infrastructure platform for commercial insurance, today announced a $13 million Series A funding round led by global software investor Insight Partners with participation from Nyca Partners. The investment will accelerate CoverForce’s mission as a leading marketplace for quote-and-bind API connections, enabling seamless digital interactions between insurance carriers, agencies, and wholesalers.

Co-founded by Cyrus Karai, Behram Dinshaw, and Kaivan Wadia, CoverForce was born out of a shared vision to modernize the commercial insurance industry. With decades of combined experience in insurance and technology, the founders set out to solve the inefficiencies of legacy systems by building a unified API platform that allows customers to instantly quote, pay, bind and issue policies. Since its launch, CoverForce has become a go-to marketplace for commercial insurance connectivity, partnering with over 20 of the largest insurance agency wholesalers and networks in America and supporting more than 9,600 producers nationwide.

A Marketplace for Seamless Connectivity
CoverForce’s platform serves as a leading marketplace for quote-and-bind API connections, enabling brokers, wholesalers, and agencies to access instant quotes and one-click binding functionality. The platform integrates with national carriers like AmTrust, Chubb, Liberty Mutual, and Travelers, and covers major commercial lines of business such as Workers’ Compensation, General Liability, Business Owner’s Policies, and Cyber. For carriers and MGAs, CoverForce unlocks new distribution channels and cost efficiencies. For developers, the platform offers flexible APIs to embed insurance workflows into agency-facing software or direct-to-consumer applications.

“The insurance market is built on a legacy of paper and PDF — a huge issue in a market worth more than $960 billion,” said Kaivan Wadia, CTO and co-founder of CoverForce. “CoverForce delivers a unified API infrastructure that decreases the time to integrate from months to weeks, saving our partners millions of dollars in R&D costs.”

Driving Efficiency Through Technology
CoverForce’s platform addresses the inefficiencies of legacy systems by digitizing workflows and reducing reliance on manual processes. By standardizing data flows and enabling real-time connectivity, CoverForce empowers brokers and carriers to operate faster and more accurately.

“We are thrilled to have Insight Partners on board with our Series A,” said Cyrus Karai, CEO and co-founder of CoverForce. “This funding will help us expand our engineering capabilities and build deeper relationships in the market. In particular, we’re seeking to partner with carriers who are empowering their agents with cutting-edge, digital tools — essentially those who are making an investment in speed as a key element of winning.”

Expanding the Ecosystem
With this funding, CoverForce plans to expand its platform’s capabilities, onboard additional carriers and distributors, and invest in AI-driven tools to further streamline insurance workflows. The company is also focused on building deeper relationships with carriers that prioritize digital innovation and speed as key competitive advantages.

“Insight Partners is proud to back CoverForce in their work to transform the way carriers and distributors collaborate,” said Sophie Beshar, Vice President at Insight Partners. “Their deep relationships with carriers and agencies, combined with the strength of their product and team, make them a standout player in the industry. We’re excited to partner with CoverForce as they scale their impact.”

As part of the transaction, Beshar will join CoverForce’s Board of Directors.

About CoverForce  
CoverForce is a leading marketplace for quote-and-bind API connections in commercial insurance, offering a trusted and secure platform for carriers, agencies, and wholesalers. With over 20 of the largest insurance wholesalers and networks in America, CoverForce enables faster underwriting, instant quotes, and one-click policy binding.

Founded at the University of Pennsylvania’s Innovation Labs, CoverForce is backed by investors from Insight Partners, Nyca Partners, and QED Investors, as well as advisors from Travelers and The Hartford. The company continues to expand its reach by offering customized enterprise software for agencies and robust APIs that drive transformative change in the insurance ecosystem. For more information, visit www.coverforce.com.

About Insight Partners
Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of September 30, 2024, the firm has over $90B in regulatory assets under management. Insight Partners has invested in more than 800 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and the Bay Area. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with tailored, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on X @insightpartners.

SOURCE CoverForce

CHICAGO, March 5, 2025 — Dream Exchange is pleased to share that Founder and CEO, Joe Cecala, was recently featured on Cheddar News, providing insights into the challenges facing most companies in raising capital, the significance of the growing number of exchanges, and the legislative work being done to help the goals of Dream Exchange ahead of its official launch.

The appearance is a significant testament to being “The People’s Exchange” as Dream Exchange is building a new way for small and mid-size businesses to thrive in accessing capital not easily available to them in the current market landscape.

During his conversation with Dave Briggs, Mr. Cecala explained the unintended consequences of financial technology over the years that ultimately impacted small IPOs. He emphasized the need for a new model designed specifically to help small and mid-sized businesses secure vital funding—an initiative that Cecala described as “restoring the onramp to the IPO marketplace for the small capital (small-cap) companies.”

Mr. Cecala also highlighted the substantial backing Dream Exchange has received from individual investors who share the vision of an efficient public market where smaller businesses have an equal chance and are granted the same opportunities for growth and success as large companies.

Mr. Cecala discussed how the small-cap IPO market has shrunken with the advent of high speed electronic trading, leaving these small-cap companies out of the public marketplace.  Mr. Cecala stated that the Dream Exchange’s intention is to restore the ability of these small-cap companies to return to public market by utilizing the Main Street Growth Act (MSGA), which allows for the creation of a new type of exchange, called a venture exchange, while protecting both the small-cap investor and the small-cap companies.

“Appearing on Cheddar News was an opportunity to amplify our goal. We know the struggles of the underserved marketplace and we intend to change that,” said Joe Cecala, Founder and CEO of Dream Exchange.

As Dream Exchange moves toward its official launch, its message remains clear — creating a marketplace that opens the playing field providing opportunity for businesses to access growth capital in a way never before possible.

About Dream Exchange

The Dream Exchange has formally filed its Form 1 application with the Securities and Exchange Commission (“SEC”) to become the first minority-controlled company, whose common stock is primarily owned by individuals (the “People’s Exchange”), to operate a licensed stock exchange in the history of the United States, which is in the process of being noticed to the public via the Federal Register. It is presently preparing its operations for when it receives approval to become a registered stock exchange, facilitating the trading of national market system (“NMS”) stocks. Dream Exchange is also planning for its future, championing the creation of a new type of stock exchange called a venture exchange, which will list and trade the securities of early-stage small and mid-sized companies, allowing them increased access to the public markets.

Visit our website and follow us on LinkedIn for more.

MEDIA CONTACT
 Jane Hayton
 Chief Public Officer
 (312) 882-2691

SOURCE Dream Exchange

Company is preparing for direct public listing on Nasdaq

INDIANAPOLIS, March 5, 2025 — Arrive AI announced today that its investment opportunity with PicMii Crowdfunding is nearing its final stage and will close May 15, 2025, aligning with the company’s approaching Nasdaq listing. 

“We’ve been pleased with a new influx of investors and the continued support from our nearly 5,000 investors,” said Arrive AI CEO Dan O’Toole. “As we get closer to being listed on the Nasdaq, we are narrowing our focus on finalizing that process and getting to market.”

Arrive AI will launch its Arrive Points™ and autonomous delivery platform for business customers in 2025. While originally known for its vision of a consumer-facing “mailbox of the future,” the company is prioritizing business clients first, with a strong focus on healthcare. Its technology is advancing pharmaceutical delivery and autonomous healthcare logistics, ensuring secure, temperature-controlled transport of critical medications and supplies.

“Repeated demonstrations have shown significant demand in healthcare and beyond,” O’Toole said. “We are hyper-focused on healthcare because the impact is profound—improving patient outcomes while streamlining supply chain operations. This is where we’re delivering the most value, making it the smartest move for our investors and future growth.”

In addition to the close of the PicMii raise, the Arrive AI Board of Directors approved a one-for-four reverse stock split in December 2024. Shares in the company are currently priced at $13 per share.

Founded in 2014, Arrive AI has received nearly $11 million in investments from private investors and crowdsourcing over its 10 years in operation. The company is in the final stages of a direct listing on the Nasdaq.

About Arrive AI: Arrive AI makes the exchange of goods between people, robots, and drones frictionless, efficient, and convenient through artificial intelligence, autonomous technology and interoperability with smart devices including doorbells, lighting and security systems. Its patented last mile platform enables drone-based and human mail delivery to and from a physical smart mailbox, while providing tracking data, smart logistics alerts, and advanced chain of custody controls to secure the last-mile delivery for all shippers, delivery services and autonomous delivery networks. Learn about the company’s patents here. See videos of the smart mailbox in action here.

Media contact: Cheryl Reed, 317-446-5240 or [email protected]

SOURCE Arrive AI

Vantage Futures seeks to partner with early-stage companies driving groundbreaking solutions and emerging technologies in sustainability, infrastructure, and mobility

NEW YORK and VANCOUVER, BC, March 5, 2025 — Vantage Group, a global leader in airport and transportation infrastructure development and management, has launched Vantage Futures, a corporate venture initiative, to transform the future of aviation and transportation infrastructure.

Vantage Futures seeks to invest in and partner with early-stage, seed, through Series B companies driving groundbreaking solutions in three key focus areas:

• Sustainability: Innovative technologies and business models that drive carbon neutrality, forging a greener and more sustainable future for aviation and transportation.
• Connected Infrastructure: Groundbreaking technologies that streamline operations, enhance safety and security, and pioneer a future-ready ecosystem in the transportation sector.
• Future of Mobility: Innovative ventures and technologies that are shaping the future of transportation and mobility, revolutionizing how people and goods move around the world.

“With Vantage Futures, we are expanding on Vantage Group’s decades-long mission to create ideas that go places and transform transportation,” said Matthew Handford, Executive Managing Director, Vantage Futures. “We’ve seen incredible opportunities in our three verticals and look forward to partnering with bold thinkers to help fund groundbreaking solutions with the potential to accelerate sustainability, efficiency, and mobility in transportation infrastructure.”

Vantage’s global reach, combined with deep industry connections and expertise, offers a compelling launch pad for early-stage companies. Vantage Group’s current network of airports and transportation hubs across North America, the Caribbean, and Europe, together served more than 80 million travelers in 2024.

As part of the launch, Vantage Futures has made its first investment in Opfyx, an AI-enabled software suite for airport, airline, and ground handler communications and operations. Vantage participated in a funding round led by New York-based Zero Infinity Partners (ZIP) to support Opfyx’s development of an integrated digital communications platform. The platform will be piloted at John F. Kennedy International Airport’s Terminal 7, with opportunities for expanded use at the new Terminal 6, under development now by Vantage-led JFK Millennium Partners.

“We are thrilled to partner with ZIP and Vantage Futures on our mission to transform aviation operations,” said Ben Sehovic, Founder & CEO of Opfyx, and former Chief Transformation Officer at British Airways. “The aviation industry has long relied on outdated, unreliable and siloed operational software tools. At Opfyx, our team leverages deep expertise in both aviation and technology to deliver and embed solutions that streamline operations from long-term planning to real-time execution.”

Vantage Futures will also look to partner with venture capital firms, syndicates, and corporate venture capital funds to amplify its efforts.

About Vantage Group
Vantage Group is a global leader in airport and transportation investment, development, management, and advisory services. Since 1994, Vantage’s corporate and network-wide team has managed an award-winning portfolio, building strong partnerships that integrate global expertise and local know-how to solve complex transportation challenges at every network location.

Over three decades, Vantage has built a track record of creating customized solutions to transform airports and transportation centers that benefit the passengers, stakeholders, and communities they serve. Vantage is a wholly owned strategic platform of Investcorp Corsair Infrastructure Partners for capital deployment in the airport and transportation sectors. Learn more at vantagegroup.com.

Vantage Futures is Vantage Group’s corporate venture initiative dedicated to accelerating innovation in aviation and transportation infrastructure. Vantage Futures invests in and partners with early-stage companies driving groundbreaking solutions and emerging technologies in sustainability, infrastructure, and mobility. Visit vantagefutures.com to learn more.

About Opfyx
Opfyx was founded to provide the most trusted, advanced, and desired operational platform to the entire aviation ecosystem including airlines, airports, ground handlers and air traffic providers. Opfyx leverages the latest in AI technology to analyse the wealth of data in operations to enhance decision making and drive efficiencies. The company aims to lead the industry in reliability while featuring a world-class UI/UX for users throughout organisations. Learn more at www.opfyx.com.

For more information:

Vantage Group Media Relations
[email protected]

SOURCE Vantage Group

New funding to accelerate production of high-power microwave defense capability for short range air defense and fuel company’s international and commercial growth roadmap

LOS ANGELES, March 5, 2025 — Epirus announced today an oversubscribed $250 million Series D fundraising round, bringing the company’s total venture funding to more than $550 million and positioning the company to scale production of its Leonidas™ product line to meet growing global demand. 

Leonidas™ is a scalable solid-state, high-energy, high-power microwave (HPM) technology for counter-electronics applications that has been proven effective in Department of Defense testing in countering drones, drone swarms, and other electronics. 

This investment will enable Epirus to grow and acquire the best talent, improve supply chain resiliency, upgrade internal systems and processes, expand into international and commercial markets, and increase the company’s innovation and manufacturing footprint in the U.S.

The round was led by 8VC and Washington Harbour Partners LP, alongside a deep roster of return investors including StepStone Group, funds and accounts advised by T. Rowe Price Investment Management, Inc., Gaingels, strategic defense partner General Dynamics Land Systems, and new investors including Oppenheimer’s Private Market Opportunities Vista VI Fund, NightDragon, Manhattan Venture Partners, Centaurus Capital LP, and Center15 Capital. 

“Our directed EMP is already the best protection against drone swarms today,” said Joe Lonsdale, Epirus Founder and Managing Partner, 8VC. “With our capital and talent and the right partnerships with US DoD to continue to advance Epirus’ technology, it will quickly become critical for defending aircraft, ships and even satellites and space-based platforms—and determinative for the future of warfare.”  

“The future of warfare demands defense technologies that are intelligent, agile, scalable, and cost-effective,” said Mina Faltas, Founder and Chief Investment Officer at Washington Harbour Partners. “Epirus is delivering exactly that as the transformative leader in counter-electronics technology, delivering the only field-deployable solution capable of neutralizing drone swarms at scale. As the U.S. faces mounting threats and a strained defense industrial base, Epirus provides a unique asymmetric advantage to fill a critical gap in our national security. We are honored to partner with Epirus as they pioneer the next generation of directed energy capabilities, redefining how we protect our warfighters, civilians, and critical infrastructure.” 

“GDLS is excited to continue our strategic partnership with Epirus and the promise of high-power microwave technology solutions used to address counter-UAS threats for military application,” said Dave Paddock, President, General Dynamics Land Systems.

A New Era of Warfare Requires a ‘1 to Many’ Mindset

“A new era of threats mandates a shift from a ‘1 to 1’ mindset to a ‘1 to many’ way of thinking for short-range air defense, and we are primed to support the Department of Defense in this new way of warfare,” said Andy Lowery, Epirus CEO. “This funding will supercharge the manufacturing capability for our Leonidas™ high-power microwave product line and position us for our next stage of scaling growth.” 

Today’s battlefields are littered with thousands of low-cost, highly networked and highly distributed threats, capable of overwhelming traditional defenses through sheer volume and agility. This shift in warfare necessitates technologies that are scalable and easily upgraded to fit a range of use cases, effective against a spectrum of threats, and capable of processing many threats simultaneously by a single operator. 

That’s why Epirus built Leonidas™—a solid-state, software-defined, high-energy HPM system that delivers unmatched electronic warfare capabilities. Tested and proven as a scalable counter-swarm solution, Leonidas™ features an open architecture, unlimited magazine, and demonstrated non-kinetic effects against a wide range of electronic threats.

“It’s not just the effector that must operate with a “1 to many” mindset—the entire kill chain, from sensors to command and control, must do the same,” said Lowery. “We’ve worked alongside the Defense Department to drive this approach and will continue to support its evolution as the threat landscape evolves.” 

With this funding, Epirus will realize its 2018 founding vision of building next-generation short-range air defense systems at scale and advance our mission of overcoming the asymmetric challenges inherent to the future of national security.

Building a ‘1 to Many’ Effector for Critical Asset Protection

Epirus’ Leonidas™ HPM systems use solid-state gallium-nitride semiconductors and intelligent power management techniques to generate the most energy-dense pulse against electronics ever built. The result? Modern day force fields. 

As an Active Electronically Scanned Array (AESA), Leonidas™ is built on a building block architecture that allows a myriad of configurations enabling a wide variety of critical assets needing protection.

Epirus envisions a future where our HPM force fields are essential for protecting critical assets in any layered defense system—whether for Golden Dome, convoy protection, in Space, and beyond. From military installations, borders, airports, and power plants to integration within tanks, next-generation aerial platforms, and helicopters, the opportunities ahead are vast. 

‘Neo-Primes’ Fueled by American Manufacturing and Innovation

We have entered a revolutionary period of American “neo-primes”, where nontraditional defense technology companies that fuse the DNA of big aerospace with a disruptive Silicon Valley mindset are pioneering extraordinary innovations in support of U.S. government.

Since 2018, Epirus has heavily invested in internal research and development, driving constant innovation with a human-centered design approach and an agile, scalable manufacturing process. When Epirus secured its first major U.S. Army contract, the company delivered prototype systems in just nine months. Maintaining this speed with discipline—at scale—is how America and its allies will win.

With the company’s latest funding round, Epirus is expanding innovation and manufacturing in the U.S. Epirus’ first initiative is a unique, immersive simulation center opening in Q3 2025 in Oklahoma—home to U.S. Army Garrison Fort Sill and the Joint Counter-Small UAS University at the Fires Center of Excellence. 

The simulation center will feature surround-sound audio, stadium seating, floor-to-ceiling video and agile training modules, creating an immersive and realistic training environment to prepare warfighters for today’s threats. Additional manufacturing expansions, along with process and system improvements, will be announced later this year.

While, historically speaking, some technology companies have distanced themselves from working with the U.S. Department of Defense, Epirus is one of a select cohort of neo-primes committed to driving critical technological advancement and innovation in pursuit of protecting democratic values, national security and the warfighter.

About Epirus
Epirus is a high-growth technology company dedicated to overcoming the asymmetric challenges inherent to the future of national security. Epirus’ flagship technology, Leonidas™, is a software-defined, high-energy, high-power microwave platform, built using intelligent power management techniques which allow power-hungry systems to do more with less. For more information on Epirus’ solutions or to request an interview with subject matter experts, please contact [email protected].

About 8VC
8VC is a leading technology investment firm, backing visionary teams and industry-transforming companies. The partners have an extensive track record as founders, builders, and operators of companies including Palantir, Addepar, Resilience, and OpenGov. 8VC manages over $6 billion in committed capital, investing primarily in smart enterprise platforms, healthcare, logistics, Bio-IT, and defense. For more information, visit https://8vc.com.

About Washington Harbour Partners
Washington Harbour Partners LP, based in Washington DC, is a private investment firm that brings a fresh approach to investors and founders, providing flexibility and deep operational expertise at all stages of the investment cycle – from growth equity to control buyouts to public markets. The firm has deep domain expertise in the areas of software, defense technologies, cyber, government & business services, and technology-enabled services.

SOURCE Epirus