Northwood Space, which builds the antennas and software that connect satellites to Earth, has closed a $375 million Series C funding round, the company announced on Nov. 2. Andreessen Horowitz, also known as a16z, and DFJ Growth co-led the investment, which TechCrunch and Payload reported values Northwood at $2 billion.
Northwood said the money will speed delivery on existing contracts, hiring and construction of its global ground network for commercial, U.S. government and allied space missions. Washington Harbour Partners, which led the earlier Series B, joined Alpine Space Ventures, Stepstone and In-Q-Tel (IQT) among other investors, while HSBC Innovation Banking is providing a separate multi-year credit line for working capital and network growth. Payload put the company's total funding at more than $500 million.
Andreessen Horowitz general partner Katherine Boyle, who sits on Northwood's board, said her firm has backed the startup in every round since its seed stage.