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- Vannevar Labs
Vannevar Labs Revenue, Valuation, Funding & Investors
Vannevar Labs is valued at $554M as of January 2023, a 22.2x multiple on its last reported $25M revenue.
Last Vannevar Labs valuation
$554M
Series B · Jan 2023
Last Vannevar Labs funding round
$75M
Series B · Jan 2023
Vannevar Labs revenue
$25M
Series B · Jan 2023
Key investors in Vannevar Labs
General Catalyst
Costanoa Ventures
Point72 Ventures
Felicis
DFJ Growth
Shield Capital
About Vannevar Labs
Vannevar Labs is a Palo Alto-headquartered developer of AI tools including computer vision and natural language processing software for U.S. national security applications such as threat detection and intelligence analysis. Founded in 2019 by former intelligence officers, it supplies products to Department of Defense agencies and holds contracts for open-source intelligence platforms.
Founded
2019
HQ
Website
Status
Privately held
Customer focus
B2G
Revenue model
Product sales, Subscription
Revenue
$25M (Jan 2023)
Valuation
$554M (Jan 2023)
Vannevar Labs Valuation
Vannevar Labs is currently valued at $554M, based on its Series B in January 2023.
The $75M round was led by Felicis, with participation from General Catalyst, Point72 Ventures, DFJ Growth, Shield Capital, Costanoa Ventures and 1 other investor.
Vannevar Labs valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jan 2023 | Series B | $554M | 22.2x |
Vannevar Labs Revenue
Vannevar Labs' latest recorded revenue is $25M, as of its Series B in January 2023. At a $554M valuation, that implies a 22.2x revenue multiple.
Vannevar Labs revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jan 2023 | $25M | $554M | 22.2x | 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.
Vannevar Labs Funding History
Vannevar Labs has raised a total of $87M across 2 funding rounds.
Vannevar Labs' first fundraising round was a $12M Series A in August 2021. The most recent completed round was a $75M Series B in January 2023.
Vannevar Labs funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jan 2023 | Series B | Felicis (lead); General Catalyst; Point72 Ventures; DFJ Growth; Shield Capital; Costanoa Ventures; Aloft VC | $75M | $554M | Vannevar Labs develops defense technology products, including the Decrypt platform, which organizes intelligence data, simplifies analysis, translates text, and provides real-time insights on emerging threats for military and government customers. Launched in January 2021, Decrypt has been deployed at over 15 military bases and public sector organizations for tasks like processing battlefield information and countering adversaries. The company also launched two additional products in 2022, with plans to expand to nine or ten offerings. On January 18, 2023, Vannevar Labs raised $75 million in a Series B funding round led by Felicis, with participation from new investors DFJ Growth and Aloft VC, and existing backers General Catalyst, Point72 Ventures, Costanoa Ventures, and Shield Capital. This brought total funding to over $90 million (some sources cite $91 million). The post-money valuation was $554.09 million, with a price per share of $24.40. Proceeds will fund R&D for new products and securing the first multi-year government contract for Decrypt. At the time of the round, Vannevar Labs reported over $25 million in annual revenue and had achieved profitability less than five years after founding. The company was later named to Forbes' America's Next Billion-Dollar Startups 2023 list, with estimated 2022 revenue of $11 million cited in that context. Vannevar positions itself to bring top engineering talent to national security challenges, operating in a competitive defense tech landscape alongside firms like Anduril. |
| Aug 2021 | Series A | Costanoa Ventures (lead); Point72 Ventures (lead); General Catalyst | $12M | - | Vannevar Labs is a defense technology company founded in 2019 in Palo Alto, California that develops software to solve critical national security problems. The company's flagship product, Decrypt, was deployed across 15 U.S. government agencies since launching in January 2021 and generated $25 million in sales by early 2023. On August 25, 2021, Vannevar Labs raised $12 million in Series A funding co-led by Costanoa Ventures and Point72 Ventures, with participation from other top defense investors including General Catalyst. At the time of the Series A round, the company had generated approximately $3 million in revenue for fiscal year 2021. The company has since scaled rapidly: by the time of its January 2023 Series B round ($75 million), Vannevar Labs had grown to $80 million in annual revenue while maintaining profitability and expanding its team to over 200 employees. |
Who has invested in Vannevar Labs?
7 investors have backed Vannevar Labs across its funding rounds, including General Catalyst, Costanoa Ventures, Point72 Ventures, Felicis, DFJ Growth and Shield Capital.
Lead investors include Felicis, Costanoa Ventures and Point72 Ventures.
Vannevar Labs Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Participant | Aug 2021 | ||
| 2 | Lead | Aug 2021 | ||
| 2 | Lead | Aug 2021 | ||
| 1 | Lead | Jan 2023 | ||
| 1 | Participant | Jan 2023 | ||
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Start Free TrialVannevar Labs Competitors
Vannevar Labs competitors include listed companies like ExaWizards and Baida Group Co, and private ones like Heaviside Industries, General Counsel AI, Constructor and Rad AI.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $600M | - | ||
| Private | $10M | - | $555M | 55.5x | ||
| Publicly listed | $77M | $13M | $558M | 5.7x | ||
| Private | - | - | $550M | - | ||
| Private | - | - | $525M | - | ||
| Publicly listed | $31M | $9M | $586M | - |
Vannevar Labs Public Comps
Vannevar Labs is still privately-owned, but its public comps include Officina Stellare, ExaWizards, Aerostar, Ashot Ashkelon, Intelligo Technology, Baida Group Co, Smith & Wesson, Hanwang Technology Co, Unisound Ai Technology and Beijing Hanyi Innovation.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $20M | $9M | 28.8x | - | 62.7x | - | |||
| $77M | $13M | 6.6x | 5.7x | 39.3x | - | |||
| $138M | $27M | 3.5x | - | 18.1x | - | |||
| $151M | $30M | 4.2x | - | 21.5x | - | |||
| $50M | $20M | 8.4x | 8.4x | 20.8x | - | |||
| $31M | $9M | 13.6x | - | 45.2x | - | |||
| $524M | $61M | 1.2x | 1.2x | 10.6x | 9.3x | |||
| $282M | ($14M) | 2.2x | - | (44.4x) | - | |||
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Common questions about Vannevar Labs
| When was Vannevar Labs founded? | Vannevar Labs was founded in 2019. |
| Where is Vannevar Labs headquartered? | Vannevar Labs is headquartered in San Francisco, CA, United States. |
| Is Vannevar Labs publicly listed? | No, Vannevar Labs is a private, VC-backed company. |
| What is Vannevar Labs' valuation? | Vannevar Labs was last valued at $554M in its Series B in January 2023. |
| How much funding has Vannevar Labs raised? | Vannevar Labs has raised $87M across 2 funding rounds. |
| What was Vannevar Labs' last funding round? | Vannevar Labs' last funding round was a $75M Series B in January 2023, led by Felicis. |
| Who are Vannevar Labs' investors? | Vannevar Labs' investors include General Catalyst, Point72 Ventures, Costanoa Ventures, Felicis, DFJ Growth, Shield Capital and Aloft VC. |
| What is Vannevar Labs' revenue? | Vannevar Labs' latest recorded revenue is $25M (January 2023). |
| What is Vannevar Labs' revenue multiple? | Vannevar Labs' latest valuation implies a 22.2x revenue multiple ($554M valuation on $25M of revenue). |
| Which companies are comparable to Vannevar Labs? | Companies comparable to Vannevar Labs include Heaviside Industries, General Counsel AI, ExaWizards, Constructor, Rad AI and Baida Group Co. |
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