HawkEye 360 Secures $40 Million Debt Commitment

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04/02/2024 - 08:15 AM

HERNDON, Va., April 2, 2024 /PRNewswire/ -- HawkEye 360, a leading provider of space-based RF data and analytics, announced it had secured $40 million in debt financing from Silicon Valley Bank (SVB), a division of First Citizens Bank, to further its mission of delivering advanced geospatial capabilities. Over the past 12 months, HawkEye 360 has raised $108 million across its Series D-1 round and this debt financing, which has underscored the support and confidence from investors and lenders regarding its business and financial momentum.

"Raising over $400 million in capital in under five years is a landmark achievement for HawkEye 360," stated John Serafini, CEO of HawkEye 360. "This remarkable level of funding not only underscores the strength and validity of our strategic vision but also significantly enhances our ability to pioneer and lead in the provision of vital geospatial solutions. It's a powerful testament to our team's ability and the trust in our path forward."

The debt financing will play a crucial role in furthering HawkEye 360's efforts to enhance its technological infrastructure and continue the buildout of its satellite constellation. These strategic developments are pivotal in maintaining HawkEye 360's unwavering commitment to providing actionable, multi-dimensional geospatial insights and facilitating informed decision-making for our valued clients worldwide.

"HawkEye 360's innovative space-based technology and RF data and analytics is paving the way for better spectrum mapping and monitoring," said Sean Stone, SVB Senior Market Manager. "SVB is thrilled to continue our relationship with HawkEye 360 and provide them with the financing to help them execute their growth strategy."

For more information about the capabilities of the HawkEye 360 satellite constellation, please visit he360.com.

About HawkEye 360

HawkEye 360 is a defense technology leader providing ubiquitous knowledge of human activity, behavior, and situational trends derived from revolutionary radio frequency (RF) geospatial insights. The company's innovative space-based technology was developed to detect, characterize, and geolocate RF signals. These RF data and analytics provide an information advantage, allowing analysts to detect the first glimpse of suspicious behavior, trace the first sign of enemy activity, and reveal the first sighting of ships attempting to vanish. HawkEye 360's RF data and analytics present a quicker grasp of critical events and patterns of life, providing early warnings to drive tip-and-cue efforts and providing global leaders the insights needed to make decisions confidently. HawkEye 360 is headquartered in Herndon, Virginia.

About Silicon Valley Bank

Silicon Valley Bank (SVB), a division of First Citizens Bank, is the bank of some of the world's most innovative companies and investors. SVB provides commercial and private banking to individuals and companies in the technology, life science, healthcare, private equity, venture capital, and premium wine industries. SVB operates in centers of innovation throughout the United States, serving the unique needs of its dynamic clients with deep sector expertise, insights, and connections. SVB's parent company, First Citizens BancShares, Inc. (NASDAQ: FCNCA ), is a top 20 U.S. financial institution with over $200 billion in assets. First Citizens Bank, Member FDIC. Learn more at svb.com.