True Anomaly Raises $100 Million in Series B Funding to Further Accelerate Growth

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Dec 12, 2023, 09:00 ET

The round led by Riot Ventures culminates a year of rapid development as the company readies its first two spacecraft for launch in 2024

CENTENNIAL, Colo., Dec. 12, 2023 /PRNewswire/ -- True Anomaly, Inc., the technology company developing advanced hardware and software systems to ensure the sustainable security of space, today announced it has closed a $100M Series B equity raise. The round was led by Riot Ventures with participation from Eclipse, ACME Capital, Menlo Ventures, Narya, 645 Ventures, Rocketship.vc, Champion Hill Ventures, and FiveNine Ventures. This financing enables continued investment in people, products, and services to further advance True Anomaly's mission.

True Anomaly was founded in early 2022 by space operators and technologists who helped define the operational concepts for modern space security operations. The company builds solutions that address space domain awareness, security, and readiness challenges. This includes a differentiating combination of dynamic software applications as well as on-orbit spacecraft performing rendezvous and proximity operations (RPO) and non-Earth imaging (NEI). The company's products and services also offer solutions for space operator training, capabilities testing, and rapid response missions.

"A responsive and agile defense industrial base is essential to provide the tools for deterrence and global security," said Even Rogers, True Anomaly CEO and Co-Founder. "Space is the newest and most vulnerable theater of contemporary global competition, but the U.S. and its allies are ill-equipped for a conflict that begins in or extends into space. True Anomaly is solving this by building the technologies for a more secure, stable, sustainable, and transparent space environment. This Series B fundraise equips True Anomaly with the proceeds to maintain a deep focus on our mission, deliver incredible products, and continue to invest in the nation's next strategic offset."

In its first full year of operations, True Anomaly opened its GravityWorks spacecraft manufacturing facility in the Denver Tech Center and doubled its staff from 50 to more than 100 employees.

"We've had the unique privilege of working with True Anomaly since inception," said Will Coffield, Co-Founder and General Partner at Riot Ventures. "Doubling down in this round is a reflection of the exceptional execution we've witnessed over the last two years. The U.S. and its allies face intense national security challenges in the space domain, and we believe True Anomaly is going to be the company that delivers the core set of capabilities to offset those threats."

True Anomaly is also steadily expanding its Executive Leadership Team with industry expertise to help scale the business. Mark Seidel joined as Chief Financial Officer and Diana Lovati as Chief Information Security Officer in 2023.

"True Anomaly's momentum across technology, product, and commercialization has been staggering in 2023," said Seth Winterroth, Partner at Eclipse. "This Series B not only validates True Anomaly's traction, but also illustrates the team's ability to scale, execute on product delivery, and ultimately, secure their incumbency in space security."

True Anomaly recently completed the build, assembly, and integration of its first two Jackal autonomous orbital vehicles (AOVs), which are slated to launch aboard SpaceX's Transporter-10 mission in 2024.

For more information about True Anomaly, visit https://www.trueanomaly.space.

About True Anomaly
True Anomaly builds innovative technology at the intersection of spacecraft, software, and AI to deliver solutions for space security, sustainability, and accessibility. The company empowers the U.S. government, its allies, and partners as well as the commercial space industry to lead safe, resilient operations on orbit to secure life on Earth.

About Riot Ventures
Riot Ventures is a seed and growth stage venture capital firm dedicated to working closely with a small group of iconic companies focused on the modernization of critical industries. The firm partners with founders at the earliest stages and writes checks ranging from $1M to $100M+. For more information, visit http://riot.vc

About Eclipse
With over $4 billion in assets under management, 70-plus portfolio companies, and a team of investors with deep operating expertise in technology, manufacturing, supply chain, logistics, healthcare, defense, and consumer products, Eclipse is a leading U.S. venture capital firm. Its leadership team has the experience necessary to create and scale complex operations. Eclipse partners with exceptional companies that make physical industries more efficient, resilient, and profitable. For more information, visit www.eclipse.vc.

SOURCE True Anomaly