Funding / Investing

Money Moves: Sublime raises $9.8M to build out email security platform

Plus, $2.6 million for Tunnl, CACI International tries to regain $250 million of common stock and more.

The Lincoln Memorial, Washington Monument and U.S. Capitol at Twilight. (Photo by Flickr user Amaury Laporte, used via a Creative Commons license)

Money Moves is a column where we chart the funding raises of tech companies across the region. Have a tip? Email us at

With a $9.8 million round, DC-based email tech startup Sublime is moving out of stealth

The startup has been operating behind the scenes for a year in private beta, with several big-name customers that include Spotify. Sublime built an open email security platform, which allows any user to write, run or share rules in a universal domain-specific language to help block email attacks. The round was led by Decibel Partners and Slow Ventures, with additional participation from founders and security operators.

“The traditional black box approach to email security fails to take advantage of the expertise and context that security professionals have,” CEO and founder Josh Kamdjou wrote in a post announcing the company. “Sublime lets defenders protect their organizations without one hand tied behind their backs.”

Arlington-based advertising data intelligence startup Tunnl raises $2.6 million

Tunnl, an Arlington, Virginia-based startup, raises $2.6 million from undisclosed investors, according to a recent Crunchbase listing.

According to its website, Tunnl’s “audience insights delivered via a seamless platform enable targeted connections between public affairs, issue advocacy, purpose-driven marketing, and cause marketing campaigns and the people who are most likely to act on them.”

Government tech provider CACI International to repurchase $250 million of common stock

Reston, Virginia-based government technology creator CACI International has entered into an accelerated share repurchase agreement to repurchase $250 million of common stock under its previously announced $750 million share-to-repurchase authorization, according to its website.  CACI is a $6.2 billion national security company with approximately 22,000 employees.

DC-based digital insurance reseller Pathpoint raises $12.5 million in a round led by Caffeinated Capital

Founded in 2017, Pathpoint focuses on a segment of insurance known as excess and surplus, an estimated $52 billion market not served by standard insurers because of higher risks.

“Given the growth over the last six months, it became clear to us that we needed to invest more,” said CEO Alex Bargmann in a statement.  “The investment from Caffeinated Capital unlocks this while setting us up to build a profitable wholesale intermediary with national distribution.”

Arlington-based consumer electric vehicle adoption platform Motor raises $7 million in a round led by Mitsubishi

Motor helps accelerate the adoption of electric cars by uniquely enrolling EV drivers in utility-managed charging programs.

“We are excited to welcome Mitsubishi Corporation as an investor in Motor because of its high alignment with our team’s purpose: to decarbonize personal mobility,” said CEO Praveen Kathpal in a statement.

DC-based Spectrum Science receives strategic investment from Knox Lane

Spectrum Science is an integrated marketing company serving healthcare clients.  The strategic investment will help strengthen the company’s clinical trial recruitment, broaden consulting services and enhance technology.

“A number of firms have expressed interest in Spectrum over the years, but we purposefully waited for the right time and opportunity — specifically a partnership that would strategically fuel our expansion while protecting what we feel makes us unique,” said CEO Jonathan Wilson in a statement.

DC’s Nevly raises $1.25 million in a round led by Tenacity Venture Capital

Certified B Corp Nevly uses personalized data to help consumers improve their credit scores.  The investment will help Nevly “develop products that drive increased personal financial freedom and build healthier, more sustainable communities – especially for Americans who have traditionally been underserved by the financial system,” said founder Eric Blue in a statement.

DC-based Mediterranean culinary chain Cava Group confidentially filed for an initial public offering with the SEC

Founded in 2006, Cava Group offers healthy build-your-own Mediterranean fast-casual meals.  The company raised $230 million in 2021 at a valuation of $1.71 billion, according to Pitchbook data.

Cava Group filed paperwork for a confidential initial public offering, which means it can avoid public scrutiny until 15 days before its offer date.

Vienna-based roadside and mobility assistance platform Urgently merging with automotive data platform Otonomo

Urgently is expected to merge with Otonomo, the platform powering the mobility economy, in an all-stock transaction.  Urgently and Otonomo equity holders will own approximately 67% and 33% of the combined company, respectively.

“This transaction enables us to transform the current reactive roadside experience and deliver on the promise of connected mobility,” said Matt Booth, CEO of Urgently in a statement.  “The addition of Otonomo’s mobility data uniquely positions Urgently to capitalize on the connections between vehicle data and the fleet, insurance and roadside assistance sectors to provide real-world services that will improve customer experiences and safety.”

Booth will be the CEO of the combined company.

More DMV Money Moves

  • DC-based Vanda Pharmaceuticals seeks multiple FDA approvals and aims to raise $200 million in a public offering
  • The University of Maryland announced award recipients of the Grand Challenges Grants program, which includes an unprecedented investment of $30 million to fund research in 50 projects that will impact every college and school across the campus.
  • Old Town Business, a volunteer group of local business owners, is aiming to establish a Business Improvement District (BID) in Alexandria by getting the support of 60% of businesses within the BID boundary. The BID would be paid for by a $0.10 tax per $100 assessed property value.  Unlike previous failed attempts, the new BID would be smaller in scale, with a focus on organizing events and marketing Old Town at a regional level.
Series: Money Moves

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