Capella Space, an American space tech company with data and satellite solutions for government and commercial applications, announced $60M in growth equity financing in a follow-on to their Series C funding round through Thomas Tull’s US Innovation Technology Fund (USIT). Capella Space is one of the first companies to close financing through Tull’s USIT Fund, bringing the company’s total funding to approximately $250M.
This news signals high investor demand in an unusually tough fundraising environment and reinforces the findings from the annual Space Investment Quarterly Report – specifically, how broader market space companies are disproportionately affected when it comes to financing. However, technologies like SAR are equipped to withstand these trends. The timing is also significant as we’re approaching the one-year mark of Capella’s support and visibility into the Ukraine crisis. I’ve included a link to the release here, but to share a few highlights:
• Access to remote sensing and Earth observation data has never been more critical: Coming off the heels of the company’s $97 million Series C financing in April, this $60M follow-on round reflects the rapidly increasing demand for Capella’s end-to-end radar-powered, high-quality SAR imagery and analytics services. Capella will use this funding to:
• Build and launch its next-generation Acadia satellites, which the company manufactures entirely in the U.S.
• Expand its automated, intelligent advanced analytics offerings within the Capella Console, the company’s on-demand tasking platform
• Continue to grow the Capella Space team
• New partnership with Thomas Tull’s US Innovation Technology Fund (USIT): Capella Space is one of the first companies to close financing from Tull’s newly created fund.
• 2022 proved to be one of Capella’s strongest to date: Capella Space tripled its revenue since 2021, with a twofold increase in imagery collected, and grew its headcount by more than 50%.
• Capella appoints three key C-suite members for future expansion and growth: With 25 years of experience and two recent IPO exits (Adaptive Biotechnologies and Zillow), Chad Cohen joins Capella as its new CFO and COO. Glen Elliott joins Capella as the company’s first-ever Chief Human Resources Officer after nine years of consulting with companies like Adobe, Tesla, 23andMe and more. In addition, Paul Stephen joins Capella as the company’s CISO. Stephen brings nearly two decades of IT experience, having managed entire technology stacks at companies like Zillow, Impinj and most recently, Avalara.