Exclusive: HighGround raises $6.5 million for defense-investing intel
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HighGround has scored a $6.5 million seed round, chief executive and former Green Beret John Price tells Axios.
Why it matters: The startup, straddling Washington and New York City, aims to equip advisors, researchers, investors and the generally curious with defense-and-aerospace market insights.
- "I care about defense, and I care about Wall Street and investment, specifically into this sector," he says.
- "I care that the best companies get investment and that we create a furnace of technology."
How it works: HighGround's AI-fueled product, which it bills as an "intelligence layer," lets users dive into budget and contracting data; explore business profiles, buying habits and legislation; run what-if scenarios and simulations; and pump out reports.
- "I am pretty fond of saying that we have all of these capabilities on our Batman utility belt for acquisition," Price says.
- "I'm not sure we need more acquisition authorities. A lot of times it's just an education issue — or certain folks who like to do business a certain way."
Threat level: Defense-tech investing is, ultimately, a life-or-death bet. Someone somewhere will some day have to use the weapon developed by whatever company won a multimillion- or multibillion-dollar competition.
Follow the money: The seed was led by Next Frontier Capital. Tandem Ventures, Fulcrum Capital and Context Ventures participated.
- "John and his team have the fluency on both sides to provide immense value to every allocator, operator and adviser making high-stakes decisions in the defense market," Les Craig at Next Frontier says in a statement.
The intrigue: HighGround plans to expand into the federal health and pharmaceutical sectors.
The bottom line: "If we can predict better on investment," Price says, "we'll get better companies."
Go deeper: VC investors step into defense tech with limited visibility
