Woven Solutions gets private equity backing

Woven Solutions, a technology integrator focused on the national security community, has accepted an investment from the private equity firm Falfurrias Management Partners with an eye toward ramping up solution development work.

Founded in 2022, Woven develops cloud-native applications to help agencies modernize their IT environments and accelerate their deployments of enterprise technology across multiple security domains.

The company also touts artificial intelligence, machine learning, continuous integration and deployment, and cybersecurity as among its core tech focus areas.

Michael McDaniel and Ajay Patel, both senior partners at Woven, will continue to lead the company alongside other current members of the management team. Financial terms of the transaction announced Tuesday were not disclosed.

Marybeth Wooton, an executive adviser to Falfurrias and former Berico Technologies chief executive, will join Woven’s board of directors in conjunction with the investment. The board also includes McDaniel, Patel, Joe Price and Grant Hundley as members.

Woven’s proprietary tools include its Platform+ offering to aid in enterprise technology deployments and Lumen AI, which the company built to function as a serverless AI tool that helps operators publish and reference intelligence products.

The equity for Falfurrias’ investment in Woven will come from Falfurrias Capital Partners VI, one of the firm’s operationally-focused lower middle-market fund.

Falfurrias’ other government market holdings include Synergy ECP and Oddball, the latter of which announced the investment in January.

Falfurrias was founded in 2006 by Hugh McColl Jr. and Marc Oken, respectively former CEO and chief financial officer for Bank of America, as well as Managing Partner Ed McMahan.

Baird and Miles & Stockbridge respectively acted as financial and legal advisers to Woven. Holland and Knight worked as the legal adviser to Falfurrias.