Prewitt Ridge has closed a $4.1M seed round, which will allow the startup to expand its go-to-market team and build new integrations for its Verve requirements management software, CEO Steven Massey told Payload.
The details: Squadra Ventures led the round, which also included participation from Stage Venture Partners, Aurelia Foundry, Wonder Ventures, Haystack, Acquia, techStars, GC&H, and leading angel investors.
“Prewitt Ridge’s world-class team has the deep industry knowledge, empathy for users and grit that will help engineers increase efficiency and save time,” said Guy Filippelli, managing partner
of Squadra Ventures, who will join Prewitt Ridge’s board of directors as part of the fundraise. “As the US Department of Defense puts a greater emphasis on digital engineering, it is more clear than ever that uniting teams and increasing manufacturing output is vital to our national security and advancing American competitiveness.”
Prewitt Ridge 101: The software company, which was founded in 2019, helps engineers organize and manage requirements with its Verve program, aiming to speed up and simplify complex projects.
The company, which was in Techstars Starbust Space Accelerator’s class of 2020, has won $2.2M in DoD SBIR awards and recently participated in two engagements with the Air Force Research Laboratory, according to a press release.
Verve’s future: The software is already being used by space companies, including Muon Space and Hydrosat, but the company believes Verve has widespread applications beyond the space industry. Prewitt Ridge is trying to expand Verve’s customer base, both across the federal government and to non-space industries, such as the automotive industry.