Vannevar Labs, a developer of defense and national security technologies, has raised $75 million in a series B funding round led by Felicis and backed by venture capital firms, and will use the fresh capital to advance its Decrypt software platform.
Decrypt is designed to help military and government customers understand foreign actors and has been deployed to more than a dozen of public sector organizations since its launch in January 2021, Vannevar Labs said Wednesday.
The funding round saw participation from new investors DFJ Growth and Aloft VC and existing backers General Catalyst, Point72 Ventures, Costanoa Ventures and Shield Capital.
“This funding will allow us to much more aggressively invest in R&D for the products we’re fielding with the government,” said Brett Granberg, CEO at Vannevar Labs.
The company secured $12 million in a series A funding round closed in August 2021.