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iqt.org

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Investments

344

Portfolio Exits

98

Partners & Customers

10

Service Providers

1

About In-Q-Tel

In-Q-Tel identifies and partners with companies developing technologies to help deliver these solutions to the Central Intelligence Agency and the broader U.S. Intelligence Community (IC) to further their missions. Launched by the CIA as a private, independent, not-for-profit organization, IQT was created to bridge the gap between the technology needs of the Intelligence Community and new advances in commercial technology. Similar to a corporate strategic fund, IQT operates for strategic investments rather than financial investments benefits to its customers in the Intelligence Community.

In-Q-Tel Headquarter Location

2107 Wilson Blvd. Suite 1100

Arlington, Virginia, 22201,

United States

703-248-3000

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Expert Collections containing In-Q-Tel

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Find In-Q-Tel in 4 Expert Collections, including HR Tech.

H

HR Tech

65 items

S

Store management tech (In-store retail tech)

55 items

Startups aiming work with retailers to improve brick-and-mortar retail operations.

U

Unicorns- Billion Dollar Startups

113 items

G

Game Changers 2018

20 items

Latest In-Q-Tel News

Putting the AI in the CIA

Jun 22, 2022

The CIA wants cheap AI training Through its nonprofit investment operation called In-Q-Tel — which is also funded by several other members of the U.S. intelligence community — the agency has bet that a Silicon Valley startup called Cerebras can make a dinner-plate-sized chip that can drastically reduce the cost of training AI models. AI models are methods of organizing mathematical calculations by breaking them into steps and then setting rules on how the steps talk to one another. But to make AI models better, they get bigger, and then, of course, more expensive to train because they need many more chips to do so efficiently. Cerebras has set out to change that. Wednesday, it announced it hit something of an important roadside marker on that trip: CEO Andrew Feldman said the company’s engineers had managed to train a 20 billion parameter AI model on its dinner-plate-sized chip. Fitting an AI model on a single chip offers distinct performance advantages for training models that can reduce the time required from weeks down to days, which also makes it cheaper. Cerebras calls the superchips the Wafer Scale Engine, and the idea behind fitting a 20 billion parameter model onto a single one is to make the cost of training AI cheap enough for just about anyone to do it. The cheapest option appears to be $25,000 a week for a Cerebras system that the WSE-2 powers, though customers can rent it for a few hours from a cloud provider if that’s what they require. Cerebras is backed by the CIA — sort of. Feldman told Protocol that In-Q-Tel is one of the company’s backers but it has likely received the bulk of the funds from regular VCs. In-Q-Tel invests on behalf of several spy agencies, but doesn’t usually drop a ton of cash on each bet. Cerebras has raised $735 million that pegs it at a valuation of $4.1 billion. VCs became interested in AI chip startups when it became clear general purpose computing offered by the likes of Nvidia, AMD and Intel might need some help with specialized chips. SPONSORED CONTENT FROM SAP The competitive edge of digital solutions For the last 50 years, SAP has worked closely with our customers to solve some of the world’s most intricate problems. We have also seen, and have been a part of, rapid accelerations in technology in response. Across industries, certain paths have emerged to help businesses manage the unexpected challenges over the last few years. Developers speak up From programming languages to cloud platforms, one of the best places to track enterprise technology trends is the annual Stack Overflow Developer Survey , which had over 70,000 responses this year. Like it’s been for the past nine years, the most commonly used programming language is still JavaScript. The decades-old language managed to beat out its competitors by a significant margin: 65% compared to 55% for HTML/CSS and a tad over 48% for both Python and SQL. When it comes to new developers, however, HTML/CSS and Python are just as popular as JavaScript. Across the board, Python and TypeScript are two programming languages that seem to be making serious inroads with developers. Python and TypeScript are two of the most common languages developers want to use — if they aren’t already. Rust is still the most beloved by developers though, with 86% of developers planning to continue using the language. In the cloud development world, AWS is the most-used platform, with 51% of developers doing extensive work there. Microsoft Azure and Google Cloud consistently fight for second place in the hearts and minds of developers, and this year Azure came out ahead with 29% of developers building on the platform. For new developers though, the story was different: Google Cloud edged out AWS and Azure, but still lost the first place spot to Heroku. That’s a key trend revealed by the survey: Although legacy programming languages and cloud platforms have a grip on professional developers, there’s still room for other providers to win over new developers. Mandiant’s mandate Google's $5.4 billion deal to acquire cybersecurity powerhouse Mandiant could shake up the industry. At the RSA Conference this month in San Francisco, I sat down with Mandiant CTO Marshall Heilman to discuss what the merger — expected to close later in 2022 — could change for the company and for Google Cloud. Assuming the acquisition closes, how will Google Cloud customers benefit? When we sell an integrated solution, with someone else's technology [plus] our intelligence, it doesn't really matter whether it's a Google-specific customer or a Microsoft-specific customer. They're [all] benefiting from it. Now, Google customers may benefit a little bit more over time — because we are natively going to get more experience in GCP [Google Cloud Platform]. What's something significant that will change for both sides? I think we're going to try and take the best of the Google culture, and what's made them so successful, and try to bring that to Mandiant — while at the same time, take Mandiant's approach to how we handle enterprises and how we work in the security world, and bring that to Google. What I'm hoping, personally, is that we blend the two environments. What other benefits could Mandiant get from joining with Google? If you look at our intelligence, Google has a ton more data than we do. That'd be fantastic [to get access to]. I'm sure there are some things we can learn from [Google's] engineering. I think from a consulting perspective, I know Google doesn't really have consulting services the way that we do, in the security aspects. So that's some expertise that we can bring to them.

In-Q-Tel Investments

344 Investments

In-Q-Tel has made 344 investments. Their latest investment was in Swoop Aero as part of their Series B on June 6, 2022.

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In-Q-Tel Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/7/2022

Series B

Swoop Aero

$16M

Yes

2

5/5/2022

Unattributed VC

Weaveworks

Yes

1

5/2/2022

Private Equity

Sandbox AQ

Yes

1

5/2/2022

Series A - II

Subscribe to see more

$99M

Subscribe to see more

10

4/27/2022

Unattributed VC

Subscribe to see more

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10

Date

6/7/2022

5/5/2022

5/2/2022

5/2/2022

4/27/2022

Round

Series B

Unattributed VC

Private Equity

Series A - II

Unattributed VC

Company

Swoop Aero

Weaveworks

Sandbox AQ

Subscribe to see more

Subscribe to see more

Amount

$16M

$99M

New?

Yes

Yes

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

2

1

1

10

10

In-Q-Tel Portfolio Exits

98 Portfolio Exits

In-Q-Tel has 98 portfolio exits. Their latest portfolio exit was D-Wave Systems on February 08, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

2/8/2022

Acq - Pending

$99M

49

1/13/2022

Acquired

5

11/15/2021

Acquired

2

11/1/2021

Acquired

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Subscribe to see more

10

10/12/2021

Acquired

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Subscribe to see more

10

Date

2/8/2022

1/13/2022

11/15/2021

11/1/2021

10/12/2021

Exit

Acq - Pending

Acquired

Acquired

Acquired

Acquired

Companies

Subscribe to see more

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Valuation

$99M

Acquirer

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Sources

49

5

2

10

10

In-Q-Tel Partners & Customers

10 Partners and customers

In-Q-Tel has 10 strategic partners and customers. In-Q-Tel recently partnered with Inpher on May 5, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

5/17/2022

Partner

United States

1

9/2/2021

Vendor

United States

Celona implements open RAN specs for 5G private networks

`` Celona 's software-defined wireless networking solution enables enterprises to set up and manage their own private 5G and LTE cellular networks for secure enterprise communications , '' said Brinda Jadeja , senior partner , investments at In-Q-Tel .

1

7/15/2021

Supplier

United States

New Strategic Partnerships Accelerate Ossia's Momentum in Wireless Power Space.

These partnerships will accelerate Ossia Inc. 's mass deployment of Cota across the world . ''

3

4/15/2021

Vendor

Finland

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10

3/18/2021

Partner

United States

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10

Date

5/17/2022

9/2/2021

7/15/2021

4/15/2021

3/18/2021

Type

Partner

Vendor

Supplier

Vendor

Partner

Business Partner

Country

United States

United States

United States

Finland

United States

News Snippet

Celona implements open RAN specs for 5G private networks

`` Celona 's software-defined wireless networking solution enables enterprises to set up and manage their own private 5G and LTE cellular networks for secure enterprise communications , '' said Brinda Jadeja , senior partner , investments at In-Q-Tel .

New Strategic Partnerships Accelerate Ossia's Momentum in Wireless Power Space.

These partnerships will accelerate Ossia Inc. 's mass deployment of Cota across the world . ''

Subscribe to see more

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Sources

1

1

3

10

10

In-Q-Tel Service Providers

1 Service Provider

In-Q-Tel has 1 service provider relationship

Service Provider

Associated Rounds

Provider Type

Service Type

Counsel

General Counsel

Service Provider

Associated Rounds

Provider Type

Counsel

Service Type

General Counsel

Partnership data by VentureSource

In-Q-Tel Team

18 Team Members

In-Q-Tel has 18 team members, including current Chief Executive Officer, President, Chris Darby.

Name

Work History

Title

Status

Chris Darby

Chief Executive Officer, President

Current

Christopher Darby

Chief Executive Officer, President

Current

Stephen C Bowsher

InterWest Partners, E*TRADE, and FreeLoader

President

Current

Matthew Strottman

Chief Financial Officer

Current

William D. Strecker

Flagship Pioneering

Chief Technology Officer

Current

Name

Chris Darby

Christopher Darby

Stephen C Bowsher

Matthew Strottman

William D. Strecker

Work History

InterWest Partners, E*TRADE, and FreeLoader

Flagship Pioneering

Title

Chief Executive Officer, President

Chief Executive Officer, President

President

Chief Financial Officer

Chief Technology Officer

Status

Current

Current

Current

Current

Current

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