9 hours ago
Exclusive: Defense tech startup Onebrief hits $1.1B valuation
Onebrief, a maker of military workflow software, raised $20 million in new funding led by Battery Ventures at a $1.1 billion valuation, CEO Grant Demaree tells Axios Pro exclusively.
Why it matters: The valuation almost doubles the company's $650 million valuation in a February deal led by General Catalyst.
How it works: Onebrief's collaborative workflow platform helps military staff from different organizations stay up to date in real-time planning, while its AI features help with decision making.
There also could be an opportunity to sell the platform to other parts of the federal government, such as FEMA and Homeland Security, says Michael Brown, general partner at Battery Ventures.
Catch up quick: Defense tech funding has been on a roll, as best illustrated by Anduril's $2.5 billion raise led by Founders Fund at a $30.5 billion valuation earlier this month.
What they're saying:"I think there's an understanding right now that we have to be on our front foot when it comes to defense," Brown says, speaking on current investor interest in defense tech.
The bottom line: Demaree said it would be possible for the Honolulu-based company to raise again before the end of the year.
