In covering the D.C. innovation economy comes the inevitable: funding news. Trust us, there's a lot of it floating around the D.C. metro area. Here's a roundup of all of the major funding news from the region in August:
Wealth Factory
Washington, D.C.-based Wealth Factory, a financial consulting firm for entrepreneurs, has raised $199,000 of a $249,000 round, according to a SEC filing on Aug. 2. The service offers different workshops, flexible curriculum training and more resources so entrepreneurs can better manage their financials. This would be the company's first round of funding.
Mission Secure
On Aug. 2, Charlottesville, Va.-based cybersecurity company Mission Secure has raised $3.7 million of a $3.8 million round, according to a SEC filing. Mission Secure was originally developed at the University of Virginia, in collaboration with the U.S. Department of Defense, to help protect critical defense platforms like UAVs and ships. The company previously raised a $2.07 million round in June 2016.
Debx
Bethesda-based Debx recently closed a $1.05 million funding round, according to a SEC filing on Aug. 4. Debx develops mobile apps to help you better manage credit card payments and other bills. The company previously filed a Form D on Feb. 1 when it disclosed a $500,000 out of $1 million raise. It's unclear if this is the company's first funding round or not.
Dragos
Dragos, a Fulton, Md.-based cybersecurity company, raised $9.051 million out of a nearly $10 million round, according to a SEC filing on Aug. 7. The company says it has created the "first industrial cybersecurity ecosystem," creating a platform that combines intelligence, expertise and automation.
MondoBrain
Alexandria, Va.-based MondoBrain has closed a $2.3 million round, according to a SEC filing on Aug. 8. MondoBrain is an augmented intelligence company founded in 2014, and its technology helps companies maker better, faster decisions. This is the company's first filing with the SEC, and it's unclear if the company has brought in previous funding.
NewConnect
D.C.-based NewConnect raised an undisclosed round of funding from Blu Venture Investors on Aug. 9. The high speed internet provider services commercial buildings and businesses.
Borrowed & Blue
Charlottesville, Va.-based wedding company Borrowed & Blue raised $11,500 in new funding, according to a SEC filing on Aug. 14. The company last raised $6.6 million in a funding round in November, based on other SEC filings. Borrowed & Blue provides a comprehensive database of local vendors and wedding themes for interested parties to take advantage of when planning their own celebrations.
Commonwealth Joe
Arlington, Va.-based coffee company Commonwealth Joe landed $2.5 million in venture funding, The Washington Business Journal reported on Aug. 16. Commonwealth Joe plans to use the new funds to develop its cold brew coffee business further. U.K. firm Mendacre Ltd. led the round, and investors Stroud Cos. and Hammerstone Capital also participated. Back in February, Commonwealth Joe filed a Form D with the SEC for a $225,000 raise out of what was then going to be a $2 million round.
BurnAlong
Baltimore, Md.-based BurnAlong raised $135,000 of what is expected to be a $1 million round, according to a SEC filing on Aug. 24. The platform allows users to participate in both live and pre-recorded group fitness classes via video through partnerships with local gyms and studios. Classes include yoga, barre and tai chi. The group previously raised about $1 million, including a $100,000 infusion from TEDCO's seed investment fund.
Machfu
Germantown, Md.-based engineering company Machfu closed a $1.6 million round to accelerate growth and product development on Aug. 28. Vienna, Va.-based Blu Venture Investors led the round. Machfu has plans to hire more employees, accelerate development for its intelligence products and increase overall marketing.
LookingGlass Cyber Solutions
Reston, Va.-based LookingGlass Cyber Solutions closed a $26.3 million round, including both debt and equity funding, according to a press release on Aug. 29. New investors Eastward Capital and Triangle Peak Partners joined the round, including participation from existing investors Alsop Louie Partners, Neuberger Berman and New Spring Capital. The new funding will be used for international sales and portfolio expansion. Century Link is one of LookingGlass Cyber Solutions' customers.
Mytonomy
Bethesda, Md.-based Mytonomy has closed a $5.195 million round, according to a SEC filing on Aug. 30. Mytonomy is an online healthcare platform designed to educate patients on their upcoming procedures and how they should prepare for them. It's unclear what the funds will be used for or if this is Mytonomy's first equity raise.
BrainScope
Bethesda, Md.-based BrainScope closed $16 million in equity funding on Aug. 31. The company creates medical devices for assessment of traumatic brain injuries. DBL Partners led the round, and previous investors, including Revolution, ZG Ventures and Maryland Venture Fund, also participated.
