ABL Space Systems Revenue, Valuation, Funding & Investors

ABL Space Systems is valued at $2.4B as of October 2021.

Last ABL Space Systems valuation

$2.4B

Series B · Oct 2021

Last ABL Space Systems funding round

$40M

Undisclosed stage · Dec 2023

ABL Space Systems revenue

$19M

Series B · Mar 2021

Key investors in ABL Space Systems

  • Fidelity
  • T. Rowe Price
  • Venrock
  • JAM Fund
  • Lockheed Martin Ventures
  • New Science Ventures

ABL Space Systems Overview

About ABL Space Systems

ABL Space Systems is an El Segundo-headquartered launch provider developing the RS1 rocket for small satellite deployments to low Earth orbit with 1,350 kg payload capacity. The GS0 ground system enables launches from sites like Alaska's Pacific Spaceport. Backed by investors including Lockheed Martin Ventures, ABL conducted hotfire tests in 2023. Founded in 2017, the company employs 200 at its 30,000 sq ft facility.


Founded

2017

HQ

United StatesLos Angeles, CA

Status

Privately held

Customer focus

B2B

Revenue model

Services

Revenue

$19M (Mar 2021)

Valuation

$2.4B (Oct 2021)

ABL Space Systems Valuation

ABL Space Systems is currently valued at $2.4B, based on its Series B in October 2021.

ABL Space Systems' valuation has grown 1.8x from $1.3B at its Series B in March 2021 to $2.4B in October 2021, across 2 priced rounds.

ABL Space Systems valuation by funding round

Revenue multiple
ABL Space Systems valuation by funding round
DateStageValuationRevenue Multiple
Oct 2021Series B$2.4B-
Mar 2021Series B$1.3B68.4x

ABL Space Systems Revenue

ABL Space Systems' latest recorded revenue is $19M, as of its Series B in March 2021. At a $1.3B valuation, that implies a 68.4x revenue multiple.

ABL Space Systems revenue by funding round

ABL Space Systems revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Mar 2021$19M$1.3B68.4xSeries B

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

ABL Space Systems Funding History

ABL Space Systems has raised a total of $459M across 4 funding rounds.

ABL Space Systems' first fundraising round was a $49M Series A in March 2020. The most recent completed round was a $40M undisclosed-stage round in December 2023.

ABL Space Systems funding rounds

ABL Space Systems funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Dec 2023Undisclosed stage-$40M-ABL Space Systems is an aerospace company founded in 2017 that develops low-cost small satellite launch vehicles, specifically the RS1, an 88-foot-tall two-stage rocket designed for rapid deployment and cost-effective access to space. The company also developed the GS0 integrated ground system architecture to create a mobile, all-in-one launch system that can be deployed from remote locations. In December 2023, ABL filed for a Series C funding round targeting up to $100 million in new capital and had closed over $40 million at that time according to regulatory filings. The company's most recent publicly confirmed valuation was $2.4 billion, achieved in October 2021 following a $200 million Series B expansion round led by T. Rowe Price alongside existing investors including Fidelity Management and Lockheed Martin Ventures. Since its founding, ABL has raised approximately $544 million across nine funding rounds, with total capital raised including subsequent loan facilities. The company has demonstrated significant commercial traction, securing substantial contracts from the U.S. Space Force including a $60 million contract for responsive launch capabilities and becoming the launch provider for NASA's Cryogenic Demonstration Mission scheduled for 2023. ABL employs approximately 278 people and operates from El Segundo, California.
Oct 2021Series B-$200M$2.4BABL Space Systems, a U.S.-based rocket builder headquartered in El Segundo, California, develops the RS1 smallsat launcher capable of delivering 1,350 kg to low-Earth orbit for $12 million per launch, along with the GS0 container-based ground system for rapid deployment. The company positions itself for cost-effective, reliable launches without over-design, targeting the growing small satellite market in competition with firms like Rocket Lab, Astra, and Virgin Orbit. Co-founded in 2017 by former SpaceX engineer Harry O'Hanley, ABL has secured contracts with Lockheed Martin (58 launches through 2029), NASA, and the U.S. Department of Defense. On October 25, 2021, ABL closed a $200 million expansion to its Series B funding round, bringing the total Series B to $370 million ($170 million initial in March 2021) and cumulative funding to $420 million. This round, led by existing investors including T. Rowe Price Associates, Fidelity Management & Research, and Lockheed Martin Ventures, increased the company's post-money valuation from $1.3 billion to $2.4 billion, achieving unicorn status. The valuation positioned ABL above Astra's public debut at $2.1 billion while below Rocket Lab's $4.1 billion and Virgin Orbit's $3.2 billion. Proceeds from the October 2021 round were allocated to scale RS1 production, expand launch site infrastructure, accelerate service deployment, and fund R&D for future systems. Investors participated to support manufacturing capacity, engine development, and commercial launch contracts. Post-round, ABL aimed to ramp up RS1 launch cadence, deploy GS0 globally, secure more commercial and government contracts, and enhance smallsat launch efficiency amid rising demand for satellite constellations. The company grew to approximately 278 employees by late 2022 and continued fundraising, including a Series C in 2023 and a $20 million loan in 2024, with total raised reaching $544.15 million across nine rounds.
Mar 2021Series BT. Rowe Price (lead); Fidelity$170M$1.3BABL Space Systems, based in El Segundo, California, develops the RS1 launch vehicle capable of delivering 1,000-1,350 kg to low-Earth orbit and the GS0 containerized deployable launch system for rapid, flexible operations from any suitable global location. The company focuses on cost-effective small satellite launches, positioning itself against competitors like Rocket Lab, Astra, and SpaceX in the growing smallsat market with an emphasis on reliability without over-design. In March 2021, ABL closed a $170 million Series B funding round led by T. Rowe Price, with participation from Fidelity Management & Research LLC and other investors, at a post-money valuation of $1.3 billion. This followed prior rounds totaling around $50 million and marked significant growth, including contracts with five commercial customers, four U.S. Department of Defense customers, and one national space agency. The funding supported manufacturing buildup, engine development, and early commercial launch contracts, with the first RS1 launch planned later that year after under four years of development. ABL secured strategic deals like Lockheed Martin's purchase of 58 launches through 2029. In October 2021, it raised an additional $200 million Series B expansion from existing investors including T. Rowe Price and Fidelity, nearly doubling the valuation to $2.4 billion and bringing total funding to approximately $420 million. Proceeds funded RS1 production scaling, launch site infrastructure expansion, and future R&D. By late 2022, the company employed around 278 people and planned increased launch cadence, global GS0 deployments, and more government/commercial contracts.
Mar 2020Series AVenrock (lead); JAM Fund; Lynett Capital; New Science Ventures; Lockheed Martin Ventures$49M-ABL Space Systems, founded in 2017 by former SpaceX engineer Harry O’Hanley and Dan Piemont, develops low-cost, responsive launch vehicles for the small satellite industry, with its RS1 rocket capable of delivering up to 1,350 kg to low Earth orbit, 1 metric ton to sun-synchronous orbit, 400 kg to geosynchronous transfer orbit, and 250 kg to lunar injection. The company emphasizes simplicity, vertical integration, and scalable manufacturing in its El Segundo, California facilities, including a 60,000 square foot production campus, to offer launches at $12 million each using self-contained systems deployable from shipping containers on concrete pads with generator power. On March 31, 2020, ABL closed a $49 million private funding round led by Ethan Batraski at Venrock, with participation from New Science Ventures, Lynett Capital, and Lockheed Martin Ventures, fully funding the company through a three-launch demonstration campaign in 2021, including a first orbital mission targeted for Q1 2021. This round complemented $44.5 million in U.S. Air Force contracts from the Air Force Research Laboratory, AFWERX, and Space and Missile Systems Center, bringing total recent financing over $90-93.5 million. By announcement in August 2020, ABL had grown to 80 engineers, completed hundreds of engine, stage, and ground system tests across unimproved sites, leased propulsion test facilities at Mojave Air and Space Port, and secured a NASA Category 1 certification plan. ABL competes in the growing small satellite launch market against Rocket Lab and SpaceX, focusing on tactically responsive launch capabilities for U.S. government and commercial customers globally. The company paused operations briefly during the early COVID-19 pandemic but quickly resumed, validating its capital-efficient approach with under 75 people achieving integrated stage testing in three years.

Who has invested in ABL Space Systems?

7 investors have backed ABL Space Systems across its funding rounds, including Fidelity, T. Rowe Price, Venrock, JAM Fund, Lockheed Martin Ventures and New Science Ventures.

Lead investors include T. Rowe Price and Venrock.


ABL Space Systems Investors

Investors in ABL Space Systems by funding rounds participated
InvestorHQRoundsRoleFirst check
JAM FundUnited StatesLos Angeles, CA1ParticipantMar 2020
FidelityUnited StatesBoston, MA1ParticipantMar 2021
Lynett CapitalUnited StatesSan Francisco, CA1ParticipantMar 2020
T. Rowe PriceUnited StatesBaltimore, MD1LeadMar 2021
VenrockUnited StatesSan Francisco, CA1LeadMar 2020

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ABL Space Systems Competitors

ABL Space Systems competitors include listed companies like Paras Defence And Space, Data Patterns (India) and Applied Aerospace & Defense, and private ones like True Anomaly, Mach Industries and Sierra Space.

Public and private companies comparable to ABL Space Systems
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
True AnomalyUnited StatesDenver, COPrivate--$2.2B-
Mach IndustriesUnited StatesLos Angeles, CAPrivate--$3.7B-
Paras Defence And SpaceIndiaIndiaPublicly listed$50M$13M$1.1B20.2x
Sierra SpaceUnited StatesLouisville, KYPrivate$45M-$8B-
Data Patterns (India)IndiaIndiaPublicly listed$96M$39M$2.6B23.2x
Applied Aerospace & DefenseUnited StatesUnited StatesPublicly listed$604M$96M$2.2B-

ABL Space Systems Public Comps

ABL Space Systems is still privately-owned, but its public comps include V2X, Intuitive Machines, Exail Technologies, Hunan Aerospace Huanyu, Bet Shemesh Engines, Ducommun, Voyager Technologies, Data Patterns (India), Applied Aerospace & Defense and Colt CZ Group.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
V2X$4.5B$293M0.7x0.7x11.1x9.3x
Intuitive Machines$207M($111M)17.6x5.0x(32.9x)(265.1x)
Exail Technologies$551M$74M5.3x4.6x39.7x20.9x
Hunan Aerospace Huanyu$68M$14M36.3x-182.5x-
Bet Shemesh Engines$314M$68M7.9x-36.8x-
Ducommun$825M($913K)3.4x3.2x(3077.8x)18.9x
Voyager Technologies$166M($90M)14.4x9.5x(26.8x)(17.3x)
Data Patterns (India)$96M$39M26.2x23.2x64.3x58.2x

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Common questions about ABL Space Systems

When was ABL Space Systems founded?ABL Space Systems was founded in 2017.
Where is ABL Space Systems headquartered?ABL Space Systems is headquartered in Los Angeles, CA, United States.
Is ABL Space Systems publicly listed?No, ABL Space Systems is a private, VC-backed company.
What is ABL Space Systems' valuation?ABL Space Systems was last valued at $2.4B in its Series B in October 2021.
How much funding has ABL Space Systems raised?ABL Space Systems has raised $459M across 4 funding rounds.
What was ABL Space Systems' last funding round?ABL Space Systems' last funding round was a $40M undisclosed-stage round in December 2023.
Who are ABL Space Systems' investors?ABL Space Systems' investors include JAM Fund, Fidelity, Lynett Capital, T. Rowe Price, Venrock, New Science Ventures and Lockheed Martin Ventures.
What is ABL Space Systems' revenue?ABL Space Systems' latest recorded revenue is $19M (March 2021).
What is ABL Space Systems' revenue multiple?ABL Space Systems' latest valuation implies a 68.4x revenue multiple ($1.3B valuation on $19M of revenue).
Which companies are comparable to ABL Space Systems?Companies comparable to ABL Space Systems include True Anomaly, Mach Industries, Paras Defence And Space, Sierra Space, Data Patterns (India) and Applied Aerospace & Defense.

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