Emerging Technology
PR Newswire | July 31, 2023
NewSpring Holdings leverages proven organic growth strategies and a disciplined M&A process to accelerate growth in sector-specific markets, including logistics, fin-tech, government services, IT services, and sports. The team has completed over 40 acquisitions and successfully built a government services platform, Avantus Federal,which recently sold for$590M.NewSpring("the Firm"), a family of private equity strategies, announced today that NewSpring Holdings, the Firm's majority investment strategy focused on sector-specific platform builds, has acquiredBridge Core, a leading provider of visual intelligence, cybersecurity, and other technical solutions to the U.S. government intelligence community. Bridge Core will use the proceeds of this transaction to execute a disciplined M&A and aggressive organic growth strategy to create a full-spectrum, technology-enabled intelligence company.
Alongside this transaction, Chad Kim has been named CEO of Bridge Core. Chad has spent over two decades supporting the intelligence community and interagency task force apparatus in diverse worldwide roles spanning from operations to analysis. This has provided Chad with a unique breadth of experience, mission intimacy, and relevant capability expertise. He also has an extensive track record in scaling organizations capable of building industry-disrupting technology for defense, intelligence, and commercial clients, most recently with former NewSpring portfolio company Avantus Federal. Bridge Core founders Tyler Laverick and Andy Rackovan will stay on with the company in key leadership roles.
"In the creation of a full-spectrum intelligence company, we're proud to begin our journey with Bridge Core, a company whose values and culture are closely aligned with my own and the team at NewSpring," said Kim. "Bridge Core treats its team members like family, fosters a strong work ethic, and consistently delivers mission impact in a nurturing environment that attracts and retains the best talent in the industry. Tyler and Andy have built an amazing company filled with savvy technologists and intelligence professionals, and we're thrilled to continue growing this business alongside them."
Bridge Core leverages a unique tech-to-mission concept, agility, and speed in delivering services that drive true value for its intelligence agency clients. Established expertise in visual intelligence, technology transfer, cybersecurity, and technical operations positions Bridge Core well to add on additional services and expand into a full-service agency serving a broad range of needs facing the intelligence community.
"An era of rapidly proliferating and converging data presents unique, evolving challenges for the intelligence community. More than ever, we see the crucial role of a holistic solutions partner capable of elevating the transformation of data into precise and impactful insights for the numerous mission sets of the U.S. government.," said NewSpring General Partner Lee Garber. "Our partnership with Bridge Core, a true market leader, aligns with our core vision to innovate within the national security space, where there is significant growth potential. Combined with Chad's leadership and extensive experience delivering mission outcomes with technology in the intelligence community, we're excited for the future of this business."
"In 2015, Andy and I set out to build a company focused on empowering and fostering a transparent culture, giving everyone a seat at the table to define our success," said Bridge Core Cofounder Tyler Laverick. "Eight years later, we realized it was time to join forces with a team that embodied what we built at Bridge Core and have found the perfect partner in NewSpring to help scale this business and further raise our impact on critical intelligence missions. We're excited about this new era for Bridge Core and look forward to taking this business to the next level."
About NewSpring
NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages over $3.0 billion across five distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Having invested in over 200 companies, NewSpring brings a wealth of knowledge, experience, and resources to take growing companies to the next level and beyond. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. To learn more, visit www.newspringcapital.com.
About Bridge Core
Bridge Core is a federal services company built on a culture of trust and teamwork to advance the mission through innovation and passionate people. The Bridge Core team of experts enable Mission Partners by integrating innovative technologies and implementing processes that modernize the digital workplace. The Company's trusted, skilled, and diverse team members make a lasting impact by building tailored, client-focused solutions within secured spaces. The Bridge Core team facilitates the rapid adoption of technologies and commercial off-the-shelf (COTS) solutions through a unique understanding of mission requirements and the vendor's product(s).
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Emerging Technology
PR Newswire | July 06, 2023
Darkhive Inc., a San Antonio-based autonomous uncrewed systems developer specializing in defense and public safety solutions, announced the award of a $5M Phase III Small Business Innovation Research contract with the US Air Force AFWERX Prime to integrate and test next generation autonomy software to a variety of uncrewed aerial system platforms
"We're very excited to be participating in this program," said John Goodson, CEO of Darkhive. "An open government-owned framework optimized for rapidly integrating, testing and securely deploying software to edge systems has been at the center of our mission from the beginning. The Government and industry team supporting this effort is phenomenal, we're honored to have the opportunity to contribute to solving some very hard problems for DoD and, most importantly, delivering for the end-user on the front lines."
Founded in 2021, Darkhive has placed an emphasis on developing affordable, US-manufactured uncrewed systems with open hardware and software interfaces to provide life-saving situational awareness at home and abroad. "In order to achieve dynamic, autonomous systems both within the US Department of Defense (DoD) and with foreign partners, we have to break away from fragmented, vendor-locked approaches to software development and secure deployment on uncrewed systems," said Steve Turner, CTO of Darkhive. "By establishing open, accessible, discoverable, and adaptable interfaces, we can unlock the potential for cohesive, collaborative behavior. The deployment and security of software have experienced significant advancements over the past decade, but these transformative changes have yet to be fully realized in uncrewed platforms and meeting evolving end-user requirements. We are thrilled to collaborate with the US Air Force and industry partners to overcome these challenges and spearhead a revolution in autonomous systems."
Darkhive has previously been awarded contracts with the Defense Innovation Unit National Security Innovation Capital contract, multiple Small Business Innovation Research with the Air Force, and a Small Business Technology Transfer award partnered with the University of Alaska at Fairbanks.
About AFWERX
AFWERX is an Air Force Research Laboratory Directorate that connects innovators across government, industry and academia. Through innovation and collaboration with our nation's top subject-matter experts, AFWERX harnesses the power of ingenuity of internal talent while expanding technology, talent and transition partnerships for rapid and affordable commercial and military capability.
About AFRL
Sole organization leading the planning & execution of USAF & USSF science & technology programs. Orchestrates a world-wide government, industry & academia coalition in the discovery, development & delivery of a wide range of revolutionary technology. Provides leading-edge warfighting capabilities keeping air, space and cyberspace forces the world's best. Employs 10,800 military, civilian, and contractor personnel at 17 research sites executing an annual $4B budget. For more information, visit: www.afresearchlab.com.
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Emerging Technology
PR Newswire | August 08, 2023
Quzara LLC, a leading innovator in Managed Detection & Response (MDR) and Security Operations Center as a Service (SOCaaS), is thrilled to announce that its pioneering solution, Cybertorch™, has been selected by the GSA FedRAMP® PMO to pursue a Provisional Authority to Operate (P-ATO) from the Joint Authorization Board (JAB) at the High Impact Level. This milestone marks a significant advance in Quzara's unwavering commitment to providing state-of-the-art SOCaaS/MXDR solutions for both OT and IT to the government sector and their contractors.
Saif Rahman, CEO of Quzara, expressed his enthusiasm about the achievement: "Being selected for the FedRAMP JAB prioritization is a testament to our team's hard work and dedication. This represents a significant step forward in our mission to bring our high-standard, 24/7, US Citizen Security Operations to the government sector. I want to extend my sincere thanks to our devoted team and partners whose tireless efforts have made this accomplishment possible."
The importance of the FedRAMP JAB prioritization is substantial. This recognition places Quzara's Cybertorch™ in a position of enhanced trust and visibility within the federal government. Cybertorch™'s unique MDR approach, blending AI-driven insights with human expertise, ensures robust, around-the-clock security operations, all managed by US citizens has demonstrated government-wide demand as a Cloud Service Offering.
Moving into the FedRAMP JAB process is another exposition of Quzara's commitment to stringent security standards and reflects the company's broader dedication to fortifying information security in today's complex digital landscape.
As Quzara continues to evolve and expand its capabilities, its focus remains firm: to provide the most secure, compliant, and robust security solutions to its clients.
Quzara, LLC wishes to underline that this achievement does not imply government endorsement of the company, its products, or its services.
FedRAMP is a government-wide program that promotes the adoption of secure cloud services across the federal government by providing a standardized approach to security assessment, authorization and continuous monitoring for cloud products and services.
About Quzara LLC
Quzara LLC is a leader in Managed Detection & Response (MDR) and Security Operations Center as a Service (SOCaaS). Based in Reston, VA, Quzara is committed to providing top-tier security solutions to the government sector and their contractors for OT and IT. With its flagship solution, Cybertorch™, Quzara is setting new industry standards.
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