Hidden Level Valuation, Funding & Investors

Hidden Level is valued at $450M as of February 2025.

Last Hidden Level valuation

$450M

Series C · Feb 2025

Last Hidden Level funding round

$65M

Series C · Feb 2025

Cumulative funding Hidden Level raised

$121M

across 4 funding rounds

Key investors in Hidden Level

  • Quest Venture Partners
  • Washington Harbour Partners
  • Lauder Partners
  • Booz Allen Ventures
  • Pipeline Capital
  • Veteran Ventures Capital

Hidden Level Overview

About Hidden Level

Hidden Level is a Syracuse-headquartered provider of passive radar systems for drone detection and airspace monitoring. The company's Airspace Monitoring Service deploys sensor networks compliant with U.S. Title 18 privacy regulations, tracking drones and aircraft over wide areas. Hidden Level serves critical infrastructure, defense bases, and airports with RF signal analysis technology. Founded in 2020, the firm operates demonstration sites in New York and partners with federal agencies.


Founded

2018

HQ

United StatesSyracuse, NY

Status

Privately held

Customer focus

B2B & B2G

Revenue model

Product sales

Valuation

$450M (Feb 2025)

Hidden Level Valuation

Hidden Level is currently valued at $450M, based on its Series C in February 2025.

The $65M round was led by DFJ Growth, with participation from Veteran Ventures Capital, Friends & Family Capital, Washington Harbour Partners, Revolution Capital Group, Founders Circle Capital and 2 other investors.

Hidden Level's valuation has grown 38x from $12M at its seed round in November 2019 to $450M in February 2025, across 3 priced rounds.

Hidden Level valuation by funding round

Hidden Level valuation by funding round
DateStageValuation
Feb 2025Series C$450M
Jun 2021Series A$62M
Nov 2019Seed$12M

Hidden Level Funding History

Hidden Level has raised a total of $121M across 4 funding rounds.

Hidden Level's first fundraising round was a $4M seed round in November 2019. The most recent completed round was a $65M Series C in February 2025.

Hidden Level funding rounds

Hidden Level funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Feb 2025Series CDFJ Growth (lead); Veteran Ventures Capital; Friends & Family Capital; Washington Harbour Partners; Revolution Capital Group; Founders Circle Capital; Booz Allen Ventures; Costanoa Ventures$65M$450MHidden Level, founded in 2018 in Syracuse, NY, by Jeff Cole and Gary Dominicos, develops passive radar and radio frequency sensing technology for detecting, tracking, and locating drones, aircraft, balloons, and other aerial threats, including their operators. The company's solutions provide real-time airspace monitoring for national security, critical infrastructure, public safety, and emerging commercial needs, serving customers like the U.S. Army, Air Force, NASA, Department of Defense, and various U.S. commands. On February 3, 2025, Hidden Level announced a $65 million Series C funding round led by DFJ Growth, with participation from Booz Allen Ventures, Revolution Growth (also referred to as Revolution Capital Group), Costanoa Ventures, Washington Harbour Partners, Veteran Ventures, Founders Circle Capital, and others. This followed a $35 million Series B round approximately six months earlier in 2024, bringing total funding over the prior 12 months to $100 million. One source reports the current valuation at around $500 million post-Series C. The new capital will scale manufacturing capacity, expand headcount, support public safety initiatives, enhance defense capabilities, and enable international growth. Hidden Level's technology is deployed in the field and remains virtually undetectable, addressing gaps in countering proliferating UAS threats on the battlefield and providing an electronic surveillance shield. Investors highlight the company's game-changing innovations in drone defense amid rising national security demands. DFJ Growth, a backer of companies like SpaceX, Anduril, and OpenAI, emphasized Hidden Level's role in advancing U.S. defense posture.
Aug 2024Series BVeteran Ventures Capital; Washington Harbour Partners; Booz Allen Ventures; Valor Equity Partners$35M-Hidden Level is an aviation and aerospace company specializing in passive radar and radio frequency sensing technology for detecting and locating drones and monitoring low- and high-altitude airspace, serving customers including NASA, U.S. Army, U.S. Air Force, and Department of Defense. The company raised $35 million in its Series B funding round around August 2024, led by Lauder Partners with participation from Booz Allen Ventures, Valor Equity Partners, Veteran Ventures Capital, Washington Harbour Partners, and others. This followed a $17.6 million Series A in prior years and preceded a $65 million Series C in early 2025 led by DFJ Growth with some overlapping investors. The Series B contributed to $100 million raised over 12 months alongside the Series C, used to scale manufacturing, hiring, international growth, and deployments for national security, public safety, and critical infrastructure. Total funding across rounds exceeds $120 million from 17 investors. Traction includes deployments with over a dozen customers and solutions offered as hardware or data-as-a-service for airspace monitoring. Competitive context involves defense tech for drone threats, with rapid funding reflecting demand in national security.
Jun 2021Series Alobby capital (lead); Alsop Louie Partners; Pipeline Capital; Lauder Partners; Lockheed Martin; Quest Venture Partners$17M$62MHidden Level develops scalable sensor infrastructure for monitoring low-altitude airspace, providing actionable data through its Airspace Monitoring Service (AMS) for civil and defense applications. The company employs sensor experts to deliver cost-effective solutions without customers needing to manage hardware. In June 2021, Hidden Level closed a $17.6 million Series A funding round led by Lobby Capital, with participation from Lockheed Martin Ventures, Alsop Louie Partners, Pipeline Capital, Quest Venture Partners, Lauder Partners, and others. This brought total venture funding to over $21 million. The post-money valuation was $61.8 million, with shares priced at $1.50. The funding supported advancement of sensor technology deployment, company expansion including new offices in Syracuse, NY, and plans to double staff by hiring about 15 people. Hidden Level conducted test flights with NASA Ames Laboratory around this time. Hidden Level's technology addresses airspace safety challenges, positioning it for military and commercial use in drone detection and monitoring.
Nov 2019SeedQuest Venture Partners (lead); J-Angels; Pipeline Capital; Lauder Partners$4M$12MHidden Level is a New York-based company specializing in passive radar and radio frequency sensing technology. The company completed a Series Seed funding round on March 27, 2019, raising $3.56 million at a post-money valuation of $11.85 million. Investors included Alsop Louie Partners, Lauder Partners, Lockheed Martin, Pipeline Capital Partners, and Quest Venture Partners. This early-stage round aligns with the company's founding in 2018 and focus on advanced sensing solutions for defense and aerospace applications. Subsequent seed rounds followed in May and July 2019, building toward later Series A funding of $17.3 million in June 2021. Hidden Level has since raised additional capital, including Series B and C rounds totaling over $100 million cumulatively. The investor syndicate featured prominent defense and venture backers, supporting product development in RF sensing and drone detection technologies.

Who has invested in Hidden Level?

16 investors have backed Hidden Level across its funding rounds, including Quest Venture Partners, Washington Harbour Partners, Lauder Partners, Booz Allen Ventures, Pipeline Capital and Veteran Ventures Capital.

Lead investors include DFJ Growth, lobby capital and Quest Venture Partners.


Hidden Level Investors

Investors in Hidden Level by funding rounds participated
InvestorHQRoundsRoleFirst check
Veteran Ventures CapitalUnited StatesWashington, DC2ParticipantAug 2024
Washington Harbour PartnersUnited StatesUnited States2ParticipantAug 2024
Pipeline CapitalUnited StatesSan Francisco, CA2ParticipantNov 2019
Booz Allen VenturesUnited StatesSan Francisco, CA2ParticipantAug 2024
Lauder PartnersUnited StatesSan Francisco, CA2ParticipantNov 2019
Quest Venture PartnersUnited StatesSan Francisco, CA2LeadNov 2019
Friends & Family CapitalUnited StatesSan Francisco, CA1ParticipantFeb 2025
Alsop Louie PartnersUnited StatesSan Francisco, CA1ParticipantJun 2021
J-AngelsUnited StatesUnited States1ParticipantNov 2019
Revolution Capital GroupUnited StatesBoston, MA1ParticipantFeb 2025
Founders Circle CapitalUnited StatesSan Francisco, CA1ParticipantFeb 2025
DFJ GrowthUnited StatesSan Francisco, CA1LeadFeb 2025
lobby capitalUnited StatesSan Francisco, CA1LeadJun 2021

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Hidden Level Competitors

Hidden Level competitors include listed companies like People & Technology, Altınay Savunma and Swarmer, and private ones like Echodyne, Uhnder and Saildrone.

Public and private companies comparable to Hidden Level
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
EchodyneUnited StatesSeattle, WAPrivate--$528M-
People & TechnologySouth KoreaSouth KoreaPublicly listed$542M$77M$485M1.2x
Altınay SavunmaTurkeyTurkeyPublicly listed$65M$9M$302M-
UhnderUnited StatesAustin, TXPrivate--$350M-
SwarmerUnited StatesUnited StatesPublicly listed$310K($8M)$342M101.7x
SaildroneUnited StatesUnited StatesPrivate$43M-$600M14.0x

Hidden Level Public Comps

Hidden Level is still privately-owned, but its public comps include FMS Enterprises Migun, Lubawa, Gooch & Housego, Stemmer Imaging, ECARX Group, People & Technology, General Oceans, Serve Robotics, MNC Solutions and Ashot Ashkelon.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
FMS Enterprises Migun$121M$48M3.7x-9.4x-
Lubawa$163M$39M2.3x-9.8x-
Gooch & Housego$202M$27M2.5x2.2x18.7x13.7x
Stemmer Imaging$118M$11M3.9x-41.7x-
ECARX Group$848M($23M)1.1x0.9x(40.7x)60.0x
People & Technology$542M$77M1.2x1.2x8.8x11.5x
General Oceans$136M$27M2.5x2.2x12.4x10.5x
Serve Robotics$3M($104M)55.5x19.3x(1.4x)(1.0x)

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Common questions about Hidden Level

When was Hidden Level founded?Hidden Level was founded in 2018.
Where is Hidden Level headquartered?Hidden Level is headquartered in Syracuse, NY, United States.
Is Hidden Level publicly listed?No, Hidden Level is a private, VC-backed company.
What is Hidden Level's valuation?Hidden Level was last valued at $450M in its Series C in February 2025.
How much funding has Hidden Level raised?Hidden Level has raised $121M across 4 funding rounds.
What was Hidden Level's last funding round?Hidden Level's last funding round was a $65M Series C in February 2025, led by DFJ Growth.
Who are Hidden Level's investors?Hidden Level's investors include Veteran Ventures Capital, Washington Harbour Partners, Pipeline Capital, Booz Allen Ventures, Lauder Partners, Quest Venture Partners, Friends & Family Capital, Alsop Louie Partners, J-Angels, Revolution Capital Group and 6 others.
Which companies are comparable to Hidden Level?Companies comparable to Hidden Level include Echodyne, People & Technology, Altınay Savunma, Uhnder, Swarmer and Saildrone.

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