Led · Equity · Apr 2024

Herrick Technology Laboratories (HTL) is a leading provider of high-performance SIGINT, EW, and communications products and systems to the U.S. Department of Defense. HTL designs and manufactures integrated hardware and software implemented through a Core Software Defined Radio (SDR) platform that incorporates high-performance, multi-channel RF and microwave transmit and receive functionality along with mission-specific firmware and software. Its products are deployed in demanding mission environments and emphasize best-in-class SWaP-C (size, weight, power, cost). HTL serves U.S. defense and intelligence customers as well as allied partners. The company plans to accelerate fielding next-generation SIGINT and EW products and to pursue strategic tuck-in acquisitions. Financially, HTL received a $25 million investment from Blue Delta Capital Partners to fund product development and tuck-in M&A efforts.

Participated · Series B · Jun 2018

Virtru builds a Data Security Platform centered on the open Trusted Data Format (TDF) to ensure protection and governance travel with data rather than relying on perimeter defenses. TDF was invented by co-founder Will Ackerly during his time at the NSA and has been adopted as the data protection standard for national defense and intelligence missions across the U.S. and allied partners. The platform implements "microsecurity," offering granular, persistent controls that remain with data regardless of location, aimed at protecting both internal assets and externally shared data. Virtru is trusted by over 6,000 public and private organizations, including JPMorganChase, Equifax, Capital One, Salesforce, and the U.S. Department of Defense. The company recently raised $50 million and doubled its valuation to $500 million, providing capital to scale its offerings. Planned uses of the funding include accelerating global TDF adoption, expanding protections for AI and analytics workflows, and scaling mission-critical solutions for defense and critical infrastructure partners. Virtru provides a data protection technology platform that enables users to maintain control over data wherever it is stored and shared. The company supplies encryption technology for data shared via email, collaboration tools, cloud environments, and enterprise SaaS applications. Virtru is the creator of TDF (Trusted Data Format), an open industry standard for persistent data protection, and is used by more than 7,000 global customers. Led by CEO John Ackerly, the company intends to accelerate delivery of new products across its data protection portfolio. Virtru plans to scale hiring across sales and marketing, research and development, and customer success using proceeds from its recent financing. The company is based in Washington, DC. Virtru is a Washington, DC-based provider of end-to-end data protection and data privacy solutions. The company serves more than 8,000 organizations and helps enterprises and government agencies secure and share sensitive data while maintaining control over access to regulated content, intellectual property, and personal information governed by GDPR. Led by John Ackerly, Virtru's patented Secure User-First Technology allows users anywhere, on any device, to work without requiring a separate log-in, user interface, or application. The company intends to use the funds to expand email and file data protection solutions, scale operations, and expand internationally. It also aims to establish the Trusted Data Format as the world’s common open standard to protect data. Virtru provides end-to-end email and file encryption via an Encryption-as-a-Service architecture built on the open-source Trusted Data Format (TDF). Its product suite includes browser extensions, standalone mobile apps, encrypted search, hardware-based keys, and SDKs that let developers integrate Virtru into other applications. Customers manage their own encryption keys and can revoke access to content even after it’s been shared. The company offers a free tier for personal use, a Pro tier at $5/month, and enterprise pricing, and today counts over 4,000 customers across media, entertainment, government, healthcare, financial services, and manufacturing. With the new funding it plans to expand to additional cloud platforms such as Microsoft Office 365 and further develop its SDKs and APIs. Virtru offers a Chrome and Firefox extension that implements true end-to-end encryption for cloud email, with features like message lifetimes and forward-restriction. Recipients can read and reply within their mail client if they have the extension or via a secure web page; the service uses 256-bit encryption. The company launched its core email product in January and reports growth in the “tens of thousands” of users. Virtru was founded by brothers John and Will Ackerly — Will is an ex-NSA engineer and John previously advised the White House on technology. The company employs 11 full-time engineers and works with roughly 20 additional contributors on product and cryptography, many of whom remain at the NSA. Virtru plans to keep the core product free for individuals, charge small businesses and enterprises for wider usage, potentially sell value-added services, and will use new funding to continue building out the service; it also commits to quarterly transparency reports and open-sourcing code to build trust.