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- RED 6
RED 6 Revenue, Valuation, Funding & Investors
RED 6 is valued at $277M as of June 2023, a 5.1x multiple on its last reported $54M revenue.
Last RED 6 valuation
$277M
Series B · Jun 2023
Last RED 6 funding round
$70M
Series B · Jun 2023
RED 6 revenue
$54M
Series B · Jun 2023
Key investors in RED 6
Moonshots Capital
IronGate Capital Advisors
Snowpoint Ventures
Alumni Ventures
RedBird Capital Partners
Octave Ventures LLC
About RED 6
RED 6 is a developer of the ATARS augmented reality system for pilot training in real aircraft. Based in Salt Lake City, Utah, the technology overlays synthetic enemies via a helmet-mounted visor, powered by AI networking and biometric feedback. Deployed by the U.S. Air Force since 2021, ATARS supports adversary simulation without ground simulators, extending applications to entertainment arenas and medical simulations.
Founded
2018
HQ
Website
Status
Privately held
Customer focus
B2G
Revenue model
Product sales
Revenue
$54M (Jun 2023)
Valuation
$277M (Jun 2023)
RED 6 Valuation
RED 6 is currently valued at $277M, based on its Series B in June 2023.
The $70M round was led by Alumni Ventures and RedBird Capital Partners.
RED 6's valuation has grown 2.1x from $130M at its Series A in March 2021 to $277M in June 2023, across 3 priced rounds.
RED 6 valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jun 2023 | Series B | $277M | 5.1x |
| Jun 2021 | Series A | $130M | - |
| Mar 2021 | Series A | $130M | - |
RED 6 Revenue
RED 6's latest recorded revenue is $54M, as of its Series B in June 2023. At a $277M valuation, that implies a 5.1x revenue multiple.
RED 6 revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jun 2023 | $54M | $277M | 5.1x | Series 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.
RED 6 Funding History
RED 6 has raised a total of $110M across 5 funding rounds.
RED 6's first fundraising round was a $2M seed round in April 2019. The most recent completed round was a $70M Series B in June 2023.
RED 6 funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jun 2023 | Series B | Alumni Ventures (lead); RedBird Capital Partners (lead) | $70M | $277M | Red 6 is an Orlando, Florida-based augmented reality (AR) technology company founded in 2018, specializing in synthetic air combat training for military pilots and AR applications for entertainment. Its flagship product, the Advanced Tactical Augmented Reality System (ATARS), is a multi-node, all-domain AR system that delivers realistic outdoor synthetic training environments, simulating cognitive loads of actual flight to address pilot shortages and resource constraints in military training. The technology has dual-use potential, blending defense applications with entertainment use cases like outdoor venues. On June 1, 2023, Red 6 completed a $70 million Series B funding round, matching the query's investors Alumni Ventures and RedBird Capital Partners (leader), along with others including Lockheed Martin Ventures, Boeing's AEI HorizonX, Alpha Edison, Disney Accelerator, Washington Harbour Partners, M-Cor Holdings, UK's National Security Strategic Investment Fund, Moonshots Capital, Irongate, State of Florida Opportunity Fund, Alliance Holdings, Alcazar Capital, and Robert Downey Jr.'s Downey Labs. This followed a $30 million Series A in 2021, bringing total funding to approximately $109.35 million across multiple rounds. The capital supports continued investment in ATARS development and scaling. Red 6 aims to disrupt military pilot training traditionally reliant on expensive live exercises, offering scalable, cost-effective simulations. Strategic investors like Lockheed and Boeing provide industry validation, while RedBird's expertise in aviation, media, and entertainment supports growth. The company positions ATARS for U.S. Department of Defense and allied militaries, with entertainment extensions highlighted by investors like Disney and Downey Labs. |
| Jun 2021 | Series A | Snowpoint Ventures (lead); Moonshots Capital; IronGate Capital Advisors | $30M | $130M | Red 6 is a Santa Monica-based augmented reality technology company founded in 2018 by Daniel Robinson, Glenn Snyder, and Nick Bicanic, specializing in synthetic air combat training through its Airborne Tactical Augmented Reality System (ATARS), the first wide field-of-view, full color outdoor AR solution proven in dynamic environments. On June 1, 2021, Red 6 closed a $30 million Series A funding round at a $130 million post-money valuation, led by Snowpoint Ventures with a $25 million investment, and an additional $5 million from existing and new investors including IronGate Capital Advisors and Moonshots Capital. The funding aims to advance Red 6's mission to deliver innovative military training across air, sea, and land domains, addressing inefficiencies in warfighter training to boost combat readiness and lethality. Snowpoint Ventures, focused on bridging government acquisitions and emerging tech for national security, highlighted Red 6 as a key investment. |
| Mar 2021 | Series A | Red Cell Partners (lead); Snowpoint Ventures (lead); Marlinspike Capital; Octave Ventures LLC; Moonshots Capital; TR Aeroventures; IronGate Capital Advisors | $7M | $130M | Red 6 develops the Airborne Tactical Augmented Reality System (ATARS), a wide field-of-view, full color outdoor AR solution that enables pilots to see synthetic threats in real-time during high-speed flight training. Founded in 2018 by Daniel Robinson, Glenn Snyder, and Nick Bicanic, the company addresses U.S. military pilot shortages and near-peer threat training gaps through AR blended with AI. In early 2021, around March 1, Red 6 raised funding via a convertible note from investors including IronGate Capital Advisors, Marlinspike Capital, Moonshots Capital, Octave Ventures LLC, Red Cell Partners, Snowpoint Ventures, and TR Aeroventures, with Red Cell Partners and Snowpoint Ventures as leads. This preceded a $30 million Series A round closed on June 1, 2021, at a $130 million post-money valuation, led by Snowpoint Ventures with a $25 million investment. The Series A valued the company at $130 million post-capitalization. Red 6 planned to use the Series A proceeds to nearly double its team size and advance ATARS deployment, partnering with the U.S. Air Force for training integration. The company had raised about $43 million total by mid-2021, including the prior $7 million simple agreement for future equity. |
| Jan 2021 | Pre-seed | Moonshots Capital (lead) | $500K | - | - |
| Apr 2019 | Seed | Moonshots Capital (lead); IronGate Capital Advisors | $2M | - | RED 6 raised funding in a round on April 18, 2019, with Moonshots Capital as a participant. Moonshots Capital led this early-stage investment, consistent with their focus on seed and early-stage ventures in sectors including defense tech. |
Who has invested in RED 6?
9 investors have backed RED 6 across its funding rounds, including Moonshots Capital, IronGate Capital Advisors, Snowpoint Ventures, Alumni Ventures, RedBird Capital Partners and Octave Ventures LLC.
Lead investors include Alumni Ventures, RedBird Capital Partners, Snowpoint Ventures, Red Cell Partners and Moonshots Capital.
RED 6 Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Apr 2019 | ||
| 3 | Participant | Apr 2019 | ||
| 2 | Lead | Mar 2021 | ||
| 1 | Participant | Mar 2021 | ||
| 1 | Participant | Mar 2021 | ||
| -- | 1 | Participant | Mar 2021 | |
| 1 | Lead | Jun 2023 | ||
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Start Free TrialRED 6 Competitors
RED 6 competitors include listed companies like Swarmer and Kopin, and private ones like ideaForge, Dominion Dynamics, Dhaksha and HavocAI.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $152M | - | $304M | 2.0x | ||
| Publicly listed | $310K | ($8M) | $342M | 101.7x | ||
| Private | - | - | $412M | - | ||
| Publicly listed | $38M | $3M | $877M | 15.6x | ||
| Private | $5M | - | $229M | 45.8x | ||
| Private | - | - | $500M | - |
RED 6 Public Comps
RED 6 is still privately-owned, but its public comps include TSG IT Advanced Systems, Hawkeye Systems, Seeing Machines, DOF Robotics, Palladyne AI, Surgical Science, Altınay Savunma, Outdoor Holding, Smart Shooter and AIRO Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $142M | $19M | 1.6x | - | 11.9x | - | |||
| - | ($289K) | - | - | (941.3x) | - | |||
| $62M | ($6M) | 5.4x | 3.9x | (56.5x) | 52.2x | |||
| $21M | $8M | 13.3x | - | 36.7x | - | |||
| $5M | ($27M) | 47.8x | 13.0x | (9.4x) | (7.8x) | |||
| $101M | $18M | 1.9x | 1.9x | 11.2x | 9.4x | |||
| $65M | $9M | 5.6x | - | 38.3x | - | |||
| $51M | $11M | 3.7x | 3.5x | 16.8x | 7.6x | |||
This data is available for Pro users. Sign up to see all RED 6 competitors and their valuation data. Start Free Trial | ||||||||
Common questions about RED 6
| When was RED 6 founded? | RED 6 was founded in 2018. |
| Where is RED 6 headquartered? | RED 6 is headquartered in Orlando, FL, United States. |
| Is RED 6 publicly listed? | No, RED 6 is a private, VC-backed company. |
| What is RED 6's valuation? | RED 6 was last valued at $277M in its Series B in June 2023. |
| How much funding has RED 6 raised? | RED 6 has raised $110M across 5 funding rounds. |
| What was RED 6's last funding round? | RED 6's last funding round was a $70M Series B in June 2023, led by Alumni Ventures and RedBird Capital Partners. |
| Who are RED 6's investors? | RED 6's investors include Moonshots Capital, IronGate Capital Advisors, Snowpoint Ventures, Marlinspike Capital, Octave Ventures LLC, TR Aeroventures, Alumni Ventures, RedBird Capital Partners and Red Cell Partners. |
| What is RED 6's revenue? | RED 6's latest recorded revenue is $54M (June 2023). |
| What is RED 6's revenue multiple? | RED 6's latest valuation implies a 5.1x revenue multiple ($277M valuation on $54M of revenue). |
| Which companies are comparable to RED 6? | Companies comparable to RED 6 include ideaForge, Swarmer, Dominion Dynamics, Kopin, Dhaksha and HavocAI. |
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