Sponsored by Monday Properties and written by ARLnow, Startup Monday is a weekly column that profiles Arlington-based startups, founders, and other local technology news. Monday Properties is proudly featuring 1515 Wilson Blvd in Rosslyn.
The name was coined to denote how rare it has been to attain the $1 billion valuation.
Although 728 companies globally enjoy the designation today, the mythic animal fits the Ballston-based software company for another reason. Founder and CEO Jennifer Bisceglie now joins the 4% of unicorns led by female founder-CEOs, Fortune Magazine reports.
(Fluence, an energy startup also based in Ballston, was valued at just over $1 billion at the end of last year; it was formed as a joint venture of two large, publicly-traded companies, including Ballston-based AES.)
Bisceglie first launched the company, which develops AI software to help businesses identify disruptions to their supply chains, in 2005. The company is located at 4040 Fairfax Drive.
“It’s taken a lot of iterative engineering, working closely with customers to understand their needs and supply chains, and so much more to get us here. I couldn’t be prouder,” Bisceglie told ARLnow in an email.
The startup attained the milestone on the back of a $100 million funding round led by Silicon Valley-based investors. Venture capital firm NightDragon led the financing while other investors like Kleiner Perkins and Venrock also contributed.
“We were very fortunate to enter into discussions with Dave DeWalt and his fund, NightDragon,” said Bisceglie. “Considering Dave and his team’s backgrounds in security and risk, they immediately understood the importance of what we are doing and saw the opportunity to scale rapidly while continuing to support the growing number of companies and government agencies who rely on our technology.”
The company will now use the influx of funding to improve its product and expand its outreach.
“The new funding ensures Interos can accelerate its business at a time when supply chain vulnerabilities are front and center for companies around the world, following major supply chain shortages due to the pandemic and cyberattacks on organizations like SolarWinds, Kaseya, and Colonial Pipeline that put company operations at risk,” Bisceglie said.
Over the last two years, Interos has grown by 303% and has seen its platform used by NASA, the U.S Department of Defense, and a number of Fortune 500 companies. The startup’s mission became especially relevant during the pandemic, as COVID-19 led to trade restrictions and product shortages.
“COVID-19 and other macro and digital supply chain disruptions over the past year have caused boards of directors and other leaders to awaken to the tremendous impact supply chain disruptions can have on operational resilience, business performance and reputation,” Bisceglie said.
A driver in an SUV struck a juvenile riding a bike along Langston Blvd this afternoon. The crash happened around 4:20 p.m., in or near the crosswalk at the intersection…
Today’s Listing of the Day is a 4 BD/4 BA home with an open kitchen and wood burning fireplace.
The weekend has arrived and, apparently, so have mid-summer temperatures. Perhaps a little too early. Forecasters warn residents not to let the heat take them by surprise as temperatures could reach…
The $15 million newly renovated Jennie Dean Park is reopening to the public this weekend, complete with a motorcycle parade, live music, and a celebration of local baseball history. The…