HawkEye 360 closes acquisition with backing from $150M Series E round
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By
Ross Wilkers
The commercial satellite operator is adding a business whose tools are designed to handle large and complex sets of radio frequency data.
HawkEye 360, an operator of commercial satellites that collect and use radio frequency data, has acquired a specialist in electronic signal and image processing systems in a move aimed at further expanding across national security agencies.
The acquisition of Innovative Signal Analysis is being supported by a new $150 million Series E equity and debt financing round, also announced Thursday. Financial terms of the purchase were not disclosed.
NightDragon and Center15 Capital co-led the round that included additional secured and mezzanine debt financing from First Citizen Bank’s Silicon Valley Bank division, Pinegrove Venture Partners and Hercules Capital.
ISA was founded in 1997 and brings to HawkEye 360 a suite of engineering work, algorithms, and edge and cloud-based processing tools that are designed to handle large and complex sets of RF data.
For HawkEye 360, the idea behind this transaction is to bolster how the company’s satellites collect space-based RF data and process it across all domains. HawkEye 360 opened for business in 2015 to convert data into analytics products that government operators buy and integrate into their missions.
Space Force and the National Reconnaissance Office are examples of HawkEye 360’s federal customers, while allied governments also acquire the company’s geolocation data.
Cooley LLP represented HawkEye 360 in the ISA transaction.