$145 Million (Series B) Secured To Advance Defense And National Security Technology Development

CHAOS Industries, a company building the next generation of defense and critical industry technologies, announced that the company has raised $145 million in Series B funding to support the next phase of its commercial growth and development. The Series B funding round was led by Accel, with participation from 8VC, Overmatch Ventures, Lerner Enterprises, and existing insiders. The Series B round brings the total funding raised by the company to $215 million since its founding.

The proceeds will be used to spur the development of CHAOS Industries’ advanced detection, monitoring, and communication solutions to the defense, government, and commercial sectors, and to accelerate the company’s product development, hiring plans, and high-volume manufacturing.

The company also recently announced the appointment of former U.S. Congressman and Central Intelligence Agency veteran Will Hurd as its Chief Strategy Officer. Hurd’s decades of experience and deep understanding of defense technology make him uniquely positioned to support CHAOS Industries’ mission-driven engineering strategy and guide the company as it allocates these new resources.

CHAOS Industries is also actively developing a suite of products known as Coherent Distributed Networks, a paradigm-shifting technology category, which enables unprecedented performance for sensors and effectors. And the first product in this category Vanquish is a dual-use, multistatic commercial radar that provides early warning and tracking capabilities against unmanned aerial systems (UAS), missiles, and aircraft.

KEY QUOTES:

“U.S. national security is at an inflection point. As our adversaries become more sophisticated, America must embrace next-generation technological innovation to combat more complex national security threats. This funding will accelerate CHAOS Industries’ ability to provide the cutting-edge technological solutions the U.S. and its allies need to remain secure.”

– CHAOS Industries Founder and Co-CEO John Tenet

“CHAOS Industries is in a prime position to emerge as a premier developer of defense technology. With this latest funding round, we will be able to innovate our existing products and develop new solutions. This is an investment not just in our company, but in the security of our nation.”

– CHAOS Industries Founder and Co-CEO Dr. Bo Marr

“It’s going to take a new generation of defense technologies to address the complex national security challenges we face today. We’ve been impressed by CHAOS Industries’ sophistication and execution, and think they’re well-positioned to deliver new solutions that the U.S. is looking for.”

– Steve Loughlin, partner at Accel

“The urgency to enhance America’s defense and security capabilities with modern technologies has never been greater. It is the exact mission of CHAOS Industries to bring these capabilities to market, which is why I decided to join the company. This funding round will be critical to following through on that mission.”

– CHAOS Industries Chief Strategy Officer Will Hurd