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.

Led · Seed · Sep 2017

Metawave builds millimeter-wave imaging radar hardware and software stacks (including SPEKTRA radar modules and the AWARE™ AI object classification platform) for long-range, all-weather sensing in automotive, aerial, and other mobility markets. The company produces chip and antenna module product lines—MARCONI™ 77GHz and POLARIS™ 24GHz—and offers compatibility with Carson and Triton radar system platforms to accelerate customer testing and deployment. Metawave also markets TURBO™ active repeaters and KLONE™ passive reflectors for 5G deployment use cases. The firm emphasizes high-resolution imaging and ML/AI-based perception to detect vehicles, motorcycles, pedestrians, and other objects at longer ranges and in difficult scenarios. Management says the company will use the new financing to accelerate deliveries of its MARCONI and POLARIS product lines and speed market adoption. Metawave was founded in 2017 and is headquartered in Carlsbad, California. To date the company has raised over $60M from financial and strategic investors. Metawave develops SPEKTRA™, an analog beamsteering automotive radar integrated with AWARE™ AI for object detection and classification, and also builds TURBO™ active repeaters and ECHO™ passive reflectors to boost 5G coverage. The company has delivered proofs of concept to leading automakers and demonstrated 5G ECHO results with NTT DOCOMO, targeting longer range, higher-resolution radar for ADAS and network-planning tools for telecom deployments. Metawave integrates deep learning with electromagnetic simulation in its AWARE platform to optimize radar object classification and the placement and arrangement of ECHO/TURBO devices. On the financing side, Metawave completed multiple seed financings totaling $17M and has closed an initial Series A led by DENSO. The firm emphasizes commercial work with OEMs, Tier 1 suppliers and global telecoms as it moves toward broader deployments. Metawave develops long-range, high-resolution WARLORD radar platforms and SABER hybrid analog/digital smart antenna systems using engineered metamaterials and AI. Its WARLORD radar targets ADAS and autonomous driving with imaging and object classification, including demonstrated 77GHz high-resolution radar and object classification capabilities. The SABER platforms are aimed at Fixed Wireless and 5G cellular infrastructure to enable longer-range backhaul and access with narrow analog beam steering. Metawave says its technology supports 4D point-cloud imaging, non-line-of-sight detection, and vehicle-to-vehicle communication to make vehicles safer and more connected. The company plans to integrate its radar front-end with Infineon’s 77GHz radar transceivers to scale for long ranges and wider fields of view. Metawave was founded in 2017 and is located in Palo Alto and Carlsbad, CA. Metawave develops wireless technology platforms that leverage engineered metamaterials and AI to build intelligent beam‑steering radar for autonomous driving and smart antenna platforms for wireless networks. The company is initially focused on smart radar platforms for ADAS and autonomous driving and is developing WARLORD, a 77GHz imaging radar that uses a single antenna and pushes complexity to the analog domain for high-resolution object classification. In parallel Metawave is developing SABRE, a 5G wireless communications antenna intended to enable long-range, narrow‑beam base station reach with reduced interference for fixed wireless and 5G infrastructure. Metawave says WARLORD can produce 4D point‑cloud imaging, non‑line‑of‑sight object detection, and vehicle‑to‑vehicle communication to improve safety and autonomy. The company raised an additional $10 million from strategic and financial investors, bringing total investor funding to $17 million. Named new investors include DENSO (the round lead), Toyota AI Ventures, Hyundai Motor Company, and Asahi Glass; earlier backers include Motus Ventures, Khosla Ventures, Autotech Ventures, Bold Capital, SAIC Capital, Western Technology Investment (WTI), and Alrai Capital. Metawave develops wireless technology platforms that combine engineered metamaterials and artificial intelligence to create intelligent beamsteering radars and antennas. The company’s initial commercial focus is smart radar platforms for autonomous vehicles and Advanced Driver Assistance Systems (ADAS), including its WARLORD radar powered by the WRATH AI system. In parallel Metawave is developing smart beamsteering antennas for 4G and 5G networks. Its flagship beamsteering technology was developed at PARC, and the company was spun out of PARC earlier in the year. Leadership includes CEO Dr. Maha Achour and CTO Dr. Bernard Casse, who highlight the product’s 3D imaging, speed, and AI-enabled capabilities. The company said incoming seed capital will be used to attract talent, grow the team, and commercialize its products.

Participated · Seed · Sep 2017

Metawave develops millimeter-wave sensing and perception solutions, including the SPEKTRA™ high-resolution all-weather imaging radar modules and associated software stacks. Its product portfolio also includes MARCONI™ 77GHz and POLARIS™ 24GHz beamformer chip and antenna module solutions aimed at long-range aerial sensing and ADAS. The company positions its SPEKTRA radar as an automotive analog beamsteering radar capable of distinguishing closely spaced objects in difficult driving scenarios and all-weather conditions. Metawave additionally offers TURBO™ active repeaters and KLONE™ passive reflectors to support lower-cost 5G deployments. The company says its customers include automotive, tracking, trains, aerial and drone customers. Metawave is led by CEO and founder Maha Anchor and is using recent financing to accelerate delivery of its product lines. Metawave builds wireless technology platforms that combine engineered metamaterials and Artificial Intelligence to innovate existing wireless systems and communication infrastructures. The company was spun out of PARC earlier this year and is led by CEO Dr. Maha Achour and CTO Dr. Bernard Casse. Its initial product focus is smart radar platforms for autonomous vehicles, including advanced driver assistance systems (ADAS). Metawave plans to soon enable smart antenna platforms for 4G/5G wireless communications. The company raised $7m in seed funding to support its development. The funds will be used to grow the team and commercialize its products.