Fairfax County E-Bird for July 25, 2019
Complex deal: QOMPLX, a Reston-based developer of an intelligent-decision platform, raised $78.6 million in its first round of funding and changed its name from Fractal Industries. Reston-based Cannae Holdings and Motive Partners co-led the round, which is one of the largest-ever Series A rounds for an area tech company. Kieran McQuilkin of DC Inno reports that QOMPLX makes software that allows organizations to integrate dissimilar data sources into a unified analytics infrastructure. The 4-year-old tech firm, which also has offices in New York and London, focuses on the financial services, insurance and cybersecurity sectors and plans to build on its staff of 100 to accelerate growth.
Accelerating smartly: Smart City Works, a Reston-based accelerator for smart-city technology companies, and Refraction, a co-working innovation hub in Reston, combined to secure a $750,000 federal grant to lead the Northern Virginia Smart City Initiative. The group was one of 26 selected from 140 applications and received the maximum available under a U.S. Economic Development Administration $23 million program. Potomac Tech Wire carried a U.S. EDA release about the grant program.
Virginia’s the business place: Virginia ranks in the top-five of four flagship categories in Business Facilities magazine’s 15th annual State Rankings Report. The Commonwealth is ranked second in Best Business Climate and second in Cyber Growth Potential. The rankings take into account multiple factors and place Virginia third in Economic Growth Potential and fifth among Workforce Training Leaders. Virginia ranks first among all states in Unmanned Aerial Systems and sixth among Tech Jobs Employment Leaders. In separate Metro rankings, Northern Virginia tops the chart of Data Center Leaders/p>
Clearly beloved: Altamira Technologies, a Tysons-based provider of advanced engineering, data analytics and cyber services that supports national defense and intelligence missions, is being acquired by an investor group led by capital growth investment firm ClearSky. Nick Wakeman of Washington Technology reports that McNally Capital and Nio Advisors are part of the ClearSky consortium.
Octopied with new employees: Octo Consulting, a Reston-based provider of technology services to federal clients, acquired Phoenix-based Connexta, which develops open source software and discovery tools for government and commercial clients. Katishi Maake of the Washington Business Journal reports that Octo will bolster its client base within the intelligence community and Department of Defense and that Connexta will operate as a subsidiary of Octo, which adds about 130 employees in the deal. /p>
>Improving on Mileage: TechnoMile, a Tysons-based developer of industry-specific cloud software, acquired Bethesda-based Carroll Publishing, which maintains a database of contact and bio information for government decision-makers. Carroll Publishing operates GovSearch and FedSearch, daily-updated online products that provide contact info. According to William McCormick of ExecutiveGov, TechnoMile will operate its new assets as Lead Connector and will integrate the content with its Growth, Compliance and Operations platforms. /p>
Seeking HigherGround: Tysons-based Ntiva, a provider of managed IT, cloud hosting, cybersecurity, unified communications and strategic consulting services, acquired HigherGround Managed Services, an IT and consulting firm based in Rolling Meadows, Ill. DC Inno carried the Ntiva release, which said the move will expand its coverage into the Midwest and increase its technical talent. /p>
On the watch list: ThreatQuotient of Reston and OPAQ of Herndon are on CRNmagazine’s list of 2019 Emerging Vendors to watch. Both companies were among 46 international firms recognized for innovation in the security tech sector. /p>
Look what’s popping up: Wayfair and Gilly Hicks are among the retailers getting in on the trend of opening pop-up stores at Tysons Corner Center. Wayfair, which sells furniture and interior decor, will open Aug. 1 for three months. Gilly Hicks, an intimate-apparel brand by Hollister, will open in the mall’s new BrandBox space designed for pop-ups. Tate Mikkelsen of the Washington Business Journal reports that mall owner, Macerich, is capitalizing on retailers’ willingness to expand their customer base without investing in traditional brick-and-mortar outlets. /p>
Upscale is inn: The Washington Business Journal’s Rebecca Cooper reports that Hilton is about to launch a new upscale, lifestyle hotel brand. Yet to be named, the new brand is likely to be stylish, appropriate for urban locations and slightly “higher-end” than the chain’s Hilton Garden Inn. Hilton, which has world headquarters in Tysons, envisions hundreds of this new lodging option to become available around the world. /p>
Sunshine stake: Gladstone Land Corporation, headquartered in Tysons, acquired 3,586 acres of farmland and facilities in South Florida in a sale valued at about $58 million. According to citybizlist, the property is used for vegetable and citrus farming and is under a multi-year contract to manage water flow for the South Florida Water Management District.
Notable contract wins by firms in Fairfax County
- CACI International received a potential five-year, $232 million contract to provide multi-level language training and cultural expertise for an unspecified intelligence community customer. ExecutiveBiz
- DynCorp International secured a $188M task order extension in helping the Army maintain operations for four bases and nearly 18,000 troops in Afghanistan. GovConWire
- Sunik, an Akima subsidiary, received a potential five-year, $13.6 million contract to help manage a Department of Agriculture research facility in Wyndmoor, Penn. GovConWire
Upcoming business events
- September 10: Entrepreneurship 101: Starting a Business in Fairfax County. This FCEDA workshop is for those contemplating doing business in the county. The series, which covers a full range of basics, is held in partnership with the Community Business Partnership, the Virginia Department of Small Business and Supplier Diversity and the U.S. Small Business Administration. Registration is required. Click here.
Click here for more business-related events, classes and workshops.