$150 million Series D makes a cyber unicorn
Topping our latest, totally stacked Baltimore Money Moves feature is Howard County cybersecurity giant Huntress’ latest nine-figure raise, which the company said boosts its valuation above $1.5 billion.
Learn more about how Huntress plans to use this new money, as well as the tech earmarks in the City of Baltimore’s newly approved $4.2 billion budget and a new video game studio in Hunt Valley, in my new article.
➡️ Find the latest Baltimore investment and funding news here.
Hiring returning citizens as a business tactic
Colin Fraser of Upling, a Maryland-based cannabis delivery startup, understands the principle well: His company, one of our 2024 DC RealLIST Startups, employs formerly incarcerated people as part of its mission.
“Employing returning citizens helps stimulate local economies,” he writes, commenting on Moore’s mass pardon, which is expected to affect up to 100k individuals. “Beyond the obvious — that it provides jobs and thereby increases consumer spending power — it helps reduce recidivism, lowering costs associated with incarceration and welfare. This is a way for businesses to really give back and be part of the civic fabric of their communities.”
➡️ Read more of Fraser’s thoughts on the historic pardons here.
News Incubator: What else to know today
• A newly expanded federal dashboard lets you track the heat wave and get a detailed idea of what to expect. [Technical.ly]
• Former RealLIST Startup EcoMap Technologies is the lone Baltimore-HQed company among the 22 Maryland firms (including Huntress) featured in Inc’s latest Best Workplaces roundup. [Inc]
• Johns Hopkins spinout Infinity Bio opened a new 9,000-sq.-ft. facility at BeMoreLabs, an East Baltimore life sciences center. [Biz Journal]
• A Morgan State scholar and two students reflect on what Juneteenth means to them, and how it should be commemorated. [The AFRO]
• Black business owners aim to sustain and grow economic life in Belair-Edison. [Capital News Service]
• TEDCO (a Technical.ly client) last week gathered Sens. Chris Van Hollen and Ben Cardin, Rep. John Sarbanes and various local business leaders for a livestreamed roundtable on a new program to help companies navigate the federal lab ecosystem, as well the $1.15 million of federal funds behind it. [YouTube]
• State Senate President Bill Ferguson joined CI Renewables, a Cross Keys-area solar company behind developments throughout the region, as its general counsel and senior vice president. [Maryland Matters]
• Baltimore Streetwear brand Their Carpet Company, created by a pair of former NASA and BGE engineers, immediately sold out its officially licensed Orioles gear. [Baltimore Banner]
🗓️ On the Calendar
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