Mary-Louise Hoffman
Vannevar Labs, a startup working on foreign text analysis tools for defense and intelligence applications, has raised $12 million in a Series A financing round backed by venture capital firms.
Costanoa Ventures, Point72 Ventures and General Catalyst participated in the funding round for Vannevar Labs, which plans to use the money to develop a new product and expand its tea, the San Francisco-based startup said Wednesday.
Vannevar noted that its Decrypt platform works to help government customers understand foreign actors and has been implemented in nearly a dozen of public sector organizations over the past six months.
The company’s contract wins include a $40 million other transaction agreement from the Department of Defense.
