In covering the D.C. innovation economy comes the inevitable: funding news. Trust us, there’s a lot of it floating around the D.C. metro area. Here’s a roundup of all of the major funding news from the region in December:
Baltimore-based Terbium Labs closed a $6 million round of funding led by Glasswing Ventures, according to a press release on Nov. 29 (after our November funding roundup was published). The latest funding brings Terbium’s total raised to $15 million. The dark web intelligence company plans to invest the new funds in geographical expansion, partnerships and product developments.
According to SEC filings in late November, Leesburg, Va.-based Gravy Analytics closed an additional $1.65 million round of funding. Gravy Analytics is a location-based tool designed to help companies track event attendees headed up by CEO Jeff White. Not much is known about the new funding round, but it comes after the company closed a $7.7 million round of funding in January 2017.
Rise of the Rest
The New York Times’ Andrew Ross Sorkin detailed a mindhive of American innovators and tech entrepreneurs who have come together to raise $150 million for a “Rise of the Rest” seed fund on Dec. 15. Investors include Amazon’s Jeff Bezos, Alphabet’s Eric Schmidt, Starbucks’ Howard Schultz, and many more. With the new group of investors, Case and JD Vance, who both head the initiative, plan to also help startups in lesser known hubs make connections with industry giants.