Sponsored by Monday Properties and written by ARLnow, Startup Monday is a weekly column that profiles Arlington-based startups, founders, and different native expertise information. Monday Properties is proudly that includes 1515 Wilson Blvd in Rosslyn.
Monetary expertise firm Interos is now the primary personal Arlington startup to succeed in a billion-dollar valuation, changing into what’s referred to as a “unicorn” on this planet of startups.
The identify was coined to indicate how uncommon it has been to realize the $1 billion valuation.
Though 728 firms globally benefit from the designation right this moment, the mythic animal suits the Ballston-based software program firm for one more purpose. Founder and CEO Jennifer Bisceglie now joins the 4% of unicorns led by feminine founder-CEOs, Fortune Journal experiences.
(Fluence, an power startup additionally primarily based in Ballston, was valued at simply over $1 billion on the finish of final yr; it was shaped as a three way partnership of two giant, publicly-traded firms, together with Ballston-based AES.)
Bisceglie first launched the corporate, which develops AI software program to assist companies determine disruptions to their provide chains, in 2005. The corporate is positioned at 4040 Fairfax Drive.
“It’s taken quite a lot of iterative engineering, working carefully with prospects to know their wants and provide chains, and a lot extra to get us right here. I couldn’t be prouder,” Bisceglie advised ARLnow in an electronic mail.
NASDAQ congratulates Interos on pulling in $100 million in funding and reaching the billion-dollar milestone (courtesy of Interos)The startup attained the milestone on the again of a $100 million funding spherical led by Silicon Valley-based traders. Enterprise capital agency NightDragon led the financing whereas different traders like Kleiner Perkins and Venrock additionally contributed.
“We had been very lucky to enter into discussions with Dave DeWalt and his fund, NightDragon,” mentioned Bisceglie. “Contemplating Dave and his group’s backgrounds in safety and danger, they instantly understood the significance of what we’re doing and noticed the chance to scale quickly whereas persevering with to help the rising variety of firms and authorities companies who depend on our expertise.”
The corporate will now use the inflow of funding to enhance its product and increase its outreach.
“The brand new funding ensures Interos can speed up its enterprise at a time when provide chain vulnerabilities are entrance and heart for firms around the globe, following main provide chain shortages because of the pandemic and cyberattacks on organizations like SolarWinds, Kaseya, and Colonial Pipeline that put firm operations in danger,” Bisceglie mentioned.
Interos workers pose collectively on the workplace (courtesy of Interos)Over the past two years, Interos has grown by 303% and has seen its platform utilized by NASA, the U.S Division of Protection, and a variety of Fortune 500 firms. The startup’s mission grew to become particularly related throughout the pandemic, as COVID-19 led to commerce restrictions and product shortages.
“COVID-19 and different macro and digital provide chain disruptions over the previous yr have brought about boards of administrators and different leaders to awaken to the great influence provide chain disruptions can have on operational resilience, enterprise efficiency and popularity,” Bisceglie mentioned.