Spaceflight Industries, a next-generation, integrated space products and services company and one of our clients at Communiqué PR, recently closed a $20 million Series B funding round co-led by New York City-based RRE Venture Capital and Paul Allen’s Vulcan Capital with additional investment from Razor’s Edge Ventures. The funds, which validate the company’s pioneering role in the emerging space market, will be used to accelerate growth.
Spaceflight Industries (Spaceflight), which aims to transform the use of space by enabling new applications through the commercialization of space, is the parent company of Seattle-area aerospace and space logistics companies Spaceflight Systems (formerly Andrews Space), Spaceflight Services and Spaceflight Networks. Together, these companies are revolutionizing space access for commercial and governmental sectors by providing comprehensive, cost-effective small-satellite solutions and services from development to launch, communications and operations. This funding will be used to hire additional engineering and software talent and drive strategic initiatives to further expand the market reach and capabilities of Spaceflight’s consolidated space products and services brand.
As part of the financing, Spaceflight has added three new members to its board of directors to provide ongoing strategic guidance to its leadership team, including Charles Beames, president of Vulcan Aerospace. Beames, whose 30-year history with the Department of Defense includes the development and deployment of transformational airborne, ground- and space-based systems.
“We see a tremendous opportunity in the exploration and commercialization of space, especially within the smallsat industry,” said Charles Beames, president of Vulcan Aerospace. “Spaceflight is forging a new generation of integrated space services to enable easier, cost-effective access to the benefits and possibilities of space.”
This investment further validates Spaceflight’s vision and market position in an era when small-satellites are disrupting the traditional space industry. In addition, it gives further recognition to the Pacific Northwest’s role as a thriving space hub. In his Dow Jones VentureWire article, “Spaceflight Industries Blasts Off With $20M to Accelerate Growth,” Timothy Hay acknowledges this, calling Washington state a “hotbed for space-exploration.”
To date, Spaceflight Industries’ funding announcement has garnered significant coverage in business and space industry press which should help the company achieve its immediate goal to more than double the size of its workforce this year to expand operations. Specifically, we secured the following coverage:
- GeekWire: “Spaceflight raises $19M to help launch micro-satellites through innovative ‘ride share’ program,” March 10, 2015; Reposts: Computer Magazine, Pigridy, DailySlate, BeautyCribTV
- Space News: “Spaceflight Industries Raises $20 Million,” March 11, 2015
- Dow Jones VentureWire (behind paywall): “Spaceflight Industries Blasts Off With $20M to Accelerate Growth,” March 11, 2015
- Puget Sound Business Journal: “Spaceflight Industries to double in staff, revenue and footprint over next year,” March 11, 2015
- Puget Sound Business Journal: “Spaceflight Industries raises $20M to help send micro-satellites to space,” March 11, 2015; Reposts: HireMob, sNEWSi, Dollar Site
- PE Hub: “Spaceflight Industries pulls in $20 mln Series B,” March 11, 2015
- FinSMEs: “SPACEFLIGHT INDUSTRIES SECURES $20M IN SERIES B FUNDING,” March 11, 2015; Repost: Social Apps
- NewSpace Watch (behind paywall): “Spaceflight Industries raises $20M in new funding,” March 11, 2015
- Northwest Innovation: “Spaceflight Industries Gets $20M,” March 11, 2015
- Crosscut: “Wednesday 11 Mar, 2015 – Spaceflight Industries files $19.2M round,” March 11, 2015
- TECHi: “Spaceflight Industries raises $19.2 million to bring ride-sharing to space,” March 11, 2015; Reposts: Banzai Geek, Aggregateln.me
- Fortune: “Term Sheet — Thursday, March 12,” March 12, 2015
- Evestment Blog: “Private Space Flight Gets Boost with New Venture Funding,” March 12, 2015
- CityBizList: “RRE Venture Capital Leads $20M Series B for Spaceflight Industries,” March 12, 2015
- CityBizList: “Razor’s Edge Ventures Joins $20M Series B for Spaceflight Industries,” March 12, 2015
- The Wall Street Journal (Venture Capital Dispatch): “The Daily Startup: Memebox Raises $29M for Beauty-Product Sales,” March 12, 2015
- Space Daily: “Spaceflight Industries Raises $20 Million to Accelerate Growth,” March 12, 2015; Repost: One News Page
- AltAssets: “Small-satellite business Spaceflight Industries nets $20m Series B from VC firms,” March 12, 2015
- VC News Daily: “Spaceflight Industries Raises $20M Series B,” March 12, 2015
- PitchBook (Daily Newsletter): “Spaceflight Industries Rockets Away with $20M Series B,” March 12, 2015
- StrictlyVC: “March 12, 2015 – New Fundings,” March 12, 2015
- Satellite Evolution Group: “Spaceflight Industries raises $20 million to accelerate growth,” March 12, 2015
- Xconomy: “Seattle Roundup: Spaceflight Industries, Expedia, Magicflix, & More,” March 13, 2015; Repost: 9IJA News
- Satnews: “Spaceflight Garners Growth Funding,” March 13, 2015; Repost: News Fiber
- Via Satellite: “Investors Watching Dollars, Not Stars in Space,” March 19, 2015
- Puget Sound Business Journal: “New constellation of space firms,” March 20, 2015