HERNDON, Va. — HawkEye 360 completed the acquisition of Richardson, Texas-based defense technology firm Innovative Signal Analysis (ISA) and secured $150 million in new capital, the company announced Dec. 18.
The transaction combines a Series E preferred equity round co-led by existing investor NightDragon and Center15 Capital with a debt facility provided by Silicon Valley Bank (a division of First Citizens Bank), Pinegrove Venture Partners, and Hercules Capital.
The acquisition provides HawkEye 360 with ISA’s proprietary signal-processing algorithms and engineering capabilities, which are designed to detect and characterize complex radio frequency (RF) activity. The move marks a continued expansion of HawkEye 360’s internal technical stack following its December 2023 acquisition of RF Solutions from Maxar Intelligence, which added wideband scanning assets to its portfolio.
Acquisition Context
Founded in 1997, ISA specializes in real-time signal and image processing systems for U.S. government and defense clients. The company develops “Wide Area View” surveillance systems and high-performance computing solutions used in mission-critical intelligence applications. By integrating ISA’s personnel and technology, HawkEye 360 aims to accelerate its data processing timelines and improve signal detection in dense or contested RF environments.
Funding History
The $150 million raise reinforces HawkEye 360’s balance sheet as it scales operations. The company previously closed a $145 million Series D round in November 2021, led by Insight Partners and Seraphim Space, followed by a $58 million Series D-1 in July 2023. NightDragon has remained a consistent backer since its initial investment in 2021.
Executive Perspective
“This transaction marks an important step forward for HawkEye 360 as we continue to scale our platform and integrate highly complementary technical capabilities,” John Serafini, CEO of HawkEye 360, said in a statement. “The acquisition of ISA cements our position as the leading provider of RF data, signal processing, and analysis.”
Dave DeWalt, Founder and CEO of NightDragon, stated that the funding is intended to accelerate the platform’s growth, noting that the technology has become “essential to the market and to enduring national and global security.”
Operational Outlook
The capital injection will support the immediate integration of ISA’s workforce and technology into HawkEye 360’s existing infrastructure. Craig Searle, HawkEye 360 CFO, noted that the financing structure allows the company to maintain a “balanced and deliberate approach” to growth while strengthening its financial position for future operational priorities.
Cooley LLP represented HawkEye 360 in the transaction.