Money Moves: UrbanStems looks to keep growing following $20M Series C - Technical.ly DC

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Money Moves: UrbanStems looks to keep growing following $20M Series C

Plus, M&A News from a quartet of government-facing firms headquartered in Northern Virginia.

On-demand flower delivery from UrbanStems.

(Photo via Facebook)

Money Moves is a column where we chart the funding and deal activity of tech companies across the region. Have a tip? Email us at dc@technical.ly.


Just ahead of a busy Mother’s Day, downtown D.C. flower delivery company UrbanStems said Wednesday that it raised $20 million in a Series C funding round.

The round was led by Leesburg, Virginia-based SWaN & Legend Venture Partners and DFE Capital Management, with additional investments from Motley Fool Ventures, Gordon Segal, Gaingels and PAN. To date, the company has raised $48 million.

CEO Seth Goldman said that the raise will be used to grow the company’s team to 65-70 people by the end of 2021, build up its technology and scale its infrastructure to gear up for additional growth plans. It hopes to expand its same-day delivery service markets and streamline its mobile delivery process, as well, according to the Washington Business Journal.

In 2020, the company saw 130% growth and it has grown 500% since its $12 million Series B raise in 2019, also led by SWaN & Legend Venture Partners and Motley Fool Ventures.

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Herndon, Virginia-based national security company Peraton acquired Chantilly-based Perspecta for $7.1 billion Thursday, according to parent company Veritas Capital.

Perspecta, a federal IT contractor, will merge with Peraton to create a government technology platform under the Peraton name. Peraton currently offers cybersecurity, data analytics, cloud and app development services for defense, intelligences, space, civil and health operations.

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This is the company’s second acquisition of the year. In February, it acquired the IT and mission-support branch of Northrop Grumman for $3.4 billion. At the time, Veritas said that government technology had been a longtime key focus for the company.

Peraton CEO and President Stu Shea, who will continue to lead following the merger, said that it was a transformational acquisition for the company.

“[This acquisition] further strengthens Peraton’s leading position within the government technology market,” Shea said in a statement. “We are confident that with Veritas’ continued support, we will be well-positioned to deliver highly differentiated solutions that meet the mission-critical needs of our combined customer base.”

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McLean, Virginia’s Booz Allen Hamilton announced this week that it had acquired Herndon’s Liberty IT Solutions for $725 million.

Liberty IT primarily focuses on healthcare opportunities, specifically within the Veteran Affairs Department, but both companies center on digitalization efforts. Booz Allen CEO Horacio Rozanski said that the acquisition will help the company further “inject” digital solutions into business missions.

The consulting giant said that given Liberty’s $2 billion in digital transformation work, the acquisition would be a significant growth driver in its federal portfolio. The transaction is expected to close in the first quarter of Booz Allen’s fiscal year in 2022.  This is the first deal for the company since 2017.

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After making a commitment to give $10 million to small businesses during this year’s Super Bowl, comms company Verizon awarded $280,000 to small businesses in the area. In partnership with the Local Initiatives Support Coalition, 28 DMV companies received $10,000 to put towards things like payroll, paying rent and utilities and upgrading technology infrastructure. Verizon also has a larger goal of providing resources to one million small businesses across the country by 2030.

The companies are:

  • Black Squirrel Company
  • Amen Family Child Development Home
  • Napoleon Complex Project
  • Troka Insurance Incorporated
  • Carleton Levert
  • Valencia Investments
  • Spiritedone
  • LaToya Law
  • KanekTv
  • Murphy’s Auto Body
  • U-CAN Multicultural Marketing Group
  • Eva Beauty Salon
  • LG Total Fitness/Triple Delight Aquatics
  • RedZone Delivery
  • Amoorer Incorporated
  • All Plus
  • Reid & Reid
  • Sonya Smith-Valentine
  • Julia Miller
  • Don Berto’s Kitchen
  • Chipset21
  • Annie Burroughs
  • Victor Agunbiade & Son
  • Connect Centric
  • Ew group
  • CCC Enterprises Inc of Virginia
  • Coleman’s Lawn Service
  • Fine Line
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