Avathon Valuation, Funding & Investors
Avathon is valued at $1.4B as of January 2022.
Last Avathon valuation
$1.4B
Series D · Jan 2022
Last Avathon funding round
$123M
Series D · Jan 2022
Cumulative funding Avathon raised
$286M
across 6 funding rounds
Key investors in Avathon
Verizon Ventures
March Capital
CME Ventures
Temasek
Energize Capital
Boeing
About Avathon
Avathon is a Pittsburgh-based AI provider of cyber-physical software for industrial IT, OT, and IoT security. Its DeepArmor platform uses machine learning on real-time sensor data for malware detection and risk prediction in defense, manufacturing, and finance sectors. Award-winning since 2018, the technology prevents breaches for clients including energy utilities and financial institutions.
Founded
2013
HQ
San Francisco, CAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$1.4B (Jan 2022)
Avathon Valuation
Avathon is currently valued at $1.4B, based on its Series D in January 2022.
The $123M round was led by AEI Horizon X, Alan Howard, B. Riley Wealth Management, Doha Venture Capital and March Capital, with participation from Temasek and Peter Löscher.
Avathon's valuation has grown 28x from $50M at its Series A in April 2016 to $1.4B in January 2022, across 4 priced rounds.
Avathon valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jan 2022 | Series D | $1.4B |
| Oct 2019 | Series C | $725M |
| Feb 2018 | Series B | $327M |
| Apr 2016 | Series A | $50M |
Avathon Funding History
Avathon has raised a total of $286M across 6 funding rounds.
Avathon's first fundraising round was a $400K seed round in August 2013. The most recent completed round was a $123M Series D in January 2022.
Avathon funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jan 2022 | Series D | AEI Horizon X (lead); Alan Howard (lead); B. Riley Wealth Management (lead); Doha Venture Capital (lead); March Capital (lead); Temasek; Peter Löscher | $123M | $1.4B | Avathon, originally founded in 2013 as SparkCognition in Austin, Texas, and later rebranded and relocated to San Francisco, develops AI solutions for safety monitoring and maximizing the lifespan of infrastructure assets in sectors like aerospace, defense, oil and gas. The company serves major oil and gas organizations in India across 17,000 retail outlets, 83 terminals, and 15 airport fueling stations, and counts Nvidia and Qualcomm among its clients. Led by founder Amir Husain, who holds 27 AI patents with 40 pending, Avathon focuses on AI ecosystems to improve business systems through data integration, modeling, and implementation services. On January 25, 2022, Avathon raised $123 million in a Series D funding round, achieving a post-money valuation of $1.4 billion and unicorn status. This was the company's largest round to date, bringing total funding to approximately $300-340 million across 6-10 rounds, with prior investors like Boeing, Verizon, Hearst, and others. |
| Oct 2019 | Series C | March Capital (lead) | $100M | $725M | Avathon (formerly SparkCognition) is an AI software company focused on industrial applications, including asset performance management, predictive maintenance, and extending the life of critical infrastructure. The company has raised hundreds of millions across multiple rounds from prominent investors. In October 2019, Avathon completed a Series C round raising approximately $100M led by March Capital, along with investors including Alameda Ventures, Boeing HorizonX, Hearst Ventures, MSD Capital, Temasek, and others. The October 2019 funding built on prior rounds, such as a February 2018 Series B raising $56.5MM at $327MM valuation with investors including Boeing HorizonX, Brevan Howard, MSD Capital, and Verizon Ventures. Avathon continued raising capital post-2019, including a January 2022 Series D round of $123M at valuations reported between $1.28B and $1.4B, led by March Capital with AEI HorizonX, Alan Howard, B. Riley Venture Capital, Doha Venture Capital, Peter Loscher, and Temasek. Total funding across rounds exceeds $290M to $653M depending on the source, with 10-11 rounds by 2024. Later recognition includes membership in the World Economic Forum's Unicorn Community in 2025, reflecting valuations over $1B. |
| Feb 2018 | Series B | Verizon Ventures (lead); CME Ventures; Brevan Howard Asset Management; John Chambers; Boeing; Energize Capital; Pankaj Patel | $24M | $327M | Avathon (formerly SparkCognition) is an AI software company focused on industrial applications, including asset performance management and predictive maintenance solutions. The February 20, 2018 Series B funding round raised $56.5MM at a $327MM post-money valuation, led by Verizon Ventures with participation from Brevan Howard Asset Management, CME Ventures (listed as Cme Ventures), Energize Ventures (listed as Energize Ventures), John Chambers (via Jc2 Ventures), Boeing HorizonX, and others including Alameda Ventures and MSD Capital. The round built on prior financings, including a June 2017 Series B of $32.50MM and earlier Series A rounds totaling around $6MM-$6.1MM in 2015-2016, with an October 2015 Series A at $50M valuation. Total funding exceeded $290MM across 10-11 rounds by 2024, with investors like March Capital, Temasek, and Boeing repeating. Later valuations reached $1.4B in 2022, reflecting growth in AI for energy, aviation, and defense sectors, with backing from strategic players like Boeing and Verizon. |
| Jun 2017 | Series B | Verizon Ventures (lead); Boeing HorizonX Ventures | $33M | - | SparkCognition, an artificial intelligence and machine learning company based in Austin, Texas, which closed a $32 million Series funding round on June 26, 2017, led by Verizon Ventures with Boeing HorizonX as a strategic co-investor. SparkCognition focuses on AI solutions for information technology security and industrial operations, and had acquired dozens of major clients including multiple Fortune 100 and Fortune 1,000 organizations by the time of the funding round. The company was recognized on CNBC's 2017 Disruptor 50 list. |
| Apr 2016 | Series A | CME Ventures (lead); Verizon Ventures (lead); Sternhill Associates; The Entrepreneurs' Fund; Alameda Ventures | $6M | $50M | Avathon raised $6 million in its Series A funding round in April 2016, with investors including Alameda Ventures, CME Ventures, The Entrepreneurs' Fund, and Verizon Ventures. The round valued the company at $50 million post-money. The company subsequently raised additional capital through Series B rounds in 2017 and 2018, a Series C round in 2019 valuing it at $625 million to $748 million depending on the specific closing, and a Series D round in January 2022 at $1.28 billion post-money, demonstrating significant growth in valuation over the six-year period following this initial institutional funding round. |
| Aug 2013 | Seed | - | $400K | - | - |
Who has invested in Avathon?
18 investors have backed Avathon across its funding rounds, including Verizon Ventures, March Capital, CME Ventures, Temasek, Energize Capital and Boeing.
Lead investors include AEI Horizon X, Alan Howard, B. Riley Wealth Management, Doha Venture Capital, March Capital and 2 other investors.
Avathon Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Basking Ridge, NJ | 3 | Lead | Apr 2016 | |
| Chicago, IL | 2 | Lead | Apr 2016 | |
| Los Angeles, CA | 2 | Lead | Oct 2019 | |
 Singapore | 1 | Participant | Jan 2022 | |
 London | 1 | Participant | Feb 2018 | |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} John Chambers | San Jose, CA | 1 | Participant | Feb 2018 |
| Boston, MA | 1 | Participant | Apr 2016 | |
| Peter Löscher |  Munich | 1 | Participant | Jan 2022 |
| Los Angeles, CA | 1 | Lead | Jan 2022 | |
| San Francisco, CA | 1 | Participant | Apr 2016 | |
| Alan Howard | London | 1 | Lead | Jan 2022 |
| United States | 1 | Participant | Feb 2018 | |
| Chicago, IL | 1 | Participant | Feb 2018 | |
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Start Free TrialAcquisitions by Avathon
Avathon has acquired 5 companies to date.
Last acquisition by Avathon was on May 20th 2022. Avathon acquired Integration Wizards Europe for undisclosed valuation.
Latest Acquisitions by Avathon
| Description | Integration Wizards Europe was a London-based computer vision company specializing in real-time video analytics for workplace safety and automation. The firm transformed CCTV systems into proactive tools for compliance and security monitoring, deploying platforms at sites for PepsiCo, GE, Mondelez, Nestlé, and Transport for London. Covering the UK, Europe, Middle East, and Americas, Integration Wizards Europe focused on industrial use cases. Acquired by SparkCognition in 2022, its technology enhances the acquirer's AI portfolio. | Integration Wizards Solutions PVT LTD is a provider of enterprise mobility and integration solutions based in Hyderabad, India. It develops custom applications for mobile device management, API gateways, and middleware platforms connecting legacy systems to cloud services. The company serves financial services and retail clients with secure data synchronization tools compliant with GDPR and ISO 27001 standards. | Maana is a Palo Alto-headquartered knowledge platform with offices in Bellevue, Washington. It uses patented Knowledge Graphs to extract insights from data silos for asset and process optimization in oil and gas, manufacturing, and aviation. Clients like GE, Chevron, Shell, and Saudi Aramco deploy line-of-business apps for thousands of employees. Investors include Chevron Technology Ventures, GE Ventures, Intel Capital, and Shell Technology Ventures. | Ensemble Energy is a SaaS platform delivering predictive analytics for clean energy assets like solar and wind farms. Headquartered in California, it offers failure prediction, anomaly detection, and production forecasting using IoT sensor data. The tool optimizes maintenance for operators managing gigawatt-scale portfolios. | |
| HQ Country | |  | | | |
| HQ City | Reading | Bangalore | San Francisco, CA | San Francisco, CA | |
| Deal Date | 20 May 2022 | 25 Mar 2022 | 1 Jul 2021 | 19 May 2021 | |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all Avathon acquisitions and their M&A valuation multiples. Start Free Trial | |||||
Avathon Competitors
Avathon competitors include listed companies like PCITECH and TRS Information Technology, and private ones like Odyssey, Salt Security, Veriff and Vectra AI.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| San Francisco, CA | Private | - | - | $1.4B | - | |
| San Francisco, CA | Private | - | - | $1.4B | - | |
 Tallinn | Private | $100M | - | $1.5B | 15.0x | |
| San Jose, CA | Private | - | - | $1.2B | - | |
 China | Publicly listed | $1.5B | $53M | $1.4B | 0.9x | |
| China | Publicly listed | $76M | ($20M) | $1.7B | 19.7x |
Avathon Public Comps
Avathon is still privately-owned, but its public comps include DPtech, PCITECH, Fractal Analytics, Secunet, CloudWalk, Radware, Eacon Group, Cidi, Red Violet and Eastcompeace Tech.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $182M | $25M | 5.3x | 4.9x | 39.0x | - | |||
| $1.5B | $53M | 0.8x | 0.9x | 24.1x | - | |||
| $344M | $50M | 3.7x | 3.4x | 25.8x | 21.0x | |||
| $528M | $86M | 2.8x | 2.6x | 17.3x | 16.3x | |||
| $75M | ($75M) | 18.8x | 19.1x | (18.7x) | - | |||
| $302M | $20M | 3.6x | 3.4x | 56.1x | 23.2x | |||
| $214M | ($33M) | 6.6x | - | (42.5x) | - | |||
| $132M | ($155M) | 8.8x | 5.0x | (7.5x) | (22.7x) | |||
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Common questions about Avathon
| When was Avathon founded? | Avathon was founded in 2013. |
| Where is Avathon headquartered? | Avathon is headquartered in San Francisco, CA, United States. |
| Is Avathon publicly listed? | No, Avathon is a private, VC-backed company. |
| What is Avathon's valuation? | Avathon was last valued at $1.4B in its Series D in January 2022. |
| How much funding has Avathon raised? | Avathon has raised $286M across 6 funding rounds. |
| What was Avathon's last funding round? | Avathon's last funding round was a $123M Series D in January 2022, led by AEI Horizon X, Alan Howard, B. Riley Wealth Management, Doha Venture Capital and 1 other investor. |
| Who are Avathon's investors? | Avathon's investors include Verizon Ventures, CME Ventures, March Capital, Temasek, Brevan Howard Asset Management, John Chambers, Sternhill Associates, Peter Löscher, B. Riley Wealth Management, The Entrepreneurs' Fund and 8 others. |
| Which companies are comparable to Avathon? | Companies comparable to Avathon include Odyssey, Salt Security, Veriff, Vectra AI, PCITECH and TRS Information Technology. |
| How many companies has Avathon acquired? | Avathon has acquired 5 companies, including Integration Wizards Europe, Integration Wizards Solutions PVT LTD, Maana, Ensemble Energy and AIM2. |
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