Parry Labs has raised $80 million in a Series A round after years of being bootstrapped as it develops defense technologies. The funding round was led by Washington, D.C.-based Capitol Meridian Partners, with participation from 3Wire Partners, also based in the national capital, Greenwich, Conn.-based Teamworthy Ventures and West Coast firm True Ventures.
The Alexandria, Va.-based startup, which develops defense hardware and software for mission-critical systems, was co-founded in 2016 by CEO John Parkes and aerospace entrepreneur Robert Miller, who runs Skydweller Aero. The duo also co-founded Skydweller Aero, which develops solar-powered aircraft.
Open Systems
“The Parry team is leading the way defense customers can leverage digital engineering and open systems to provide new capabilities to the warfighter at the speed of need,” Parkes, an alumnus of the Rochester Institute of Technology, told Crunchbase News. Parkes earned a B.S. in image science at Rochester, and minored in military science.
A mission-critical technology bundle, dubbed Stratia Software Stack, is at the core of Parry Labs’ development. Based on the Pentagon-mandated Modular Open Systems Approach (MOSA), Stratia helps common capabilities to be re-used across platforms, including in mission-critical operating environments. MOSA frameworks include architecture, standards, implementation and conformance to requirements that make it possible to adapt and modify systems.
Parkes believes Stratia is key to delivering software to complex systems, such as tanks, ships and aircraft.
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‘Military IoT’
“We’re not an app developer. We don’t write widgets, apps, AI, algorithms or things like that. Rather, we create the framework for modern critical systems at the edge, as we call it, or the military internet of things.” Parkes told Silicon Angle in an interview.
“Parry Labs has rightly earned its reputation for innovation and quality,” Brooke Coburn, a founding partner at Capitol Meridian Partners, told GlobalData. “The company is a trusted partner to its defense customers and has quickly become a disruptive provider of next generation open mission systems, all under a forward-thinking open mission framework.
Before starting Parry Labs, Parkes was airborne mission lead at the Office of Strategic Capabilities in the U.S. Department of Defense, and an image scientist on classified programs at Harris. He has also worked in strategic planning, corporate development and M&A at United Technologies.
