Reston software firm boosted by $60M investment

Raft, a Reston-based software engineering firm and government contractor, has received a $60 million investment from Washington Harbour Partners, a Washington, D.C.-based private investment firm.

Founded in 2018, Raft will use the funds to “intensify its research and development efforts, significantly enhancing its command and control (C2) product offerings for the tactical edge,” according to a Wednesday news release announcing the investment.

“Our partnership with Washington Harbour will accelerate Raft’s mission of ushering in a new paradigm for the modern warfighter, across all domains of air, land, sea, space and cyber,” Shubhi Mishra, founder and CEO of Raft, said in a statement. “Next generation, advanced technologies are transforming how wars are initiated, fought, resolved, won and deterred. Washington Harbour’s deep knowledge of our industry, shared vision and expansive strategic relationships all give me great confidence and excitement in continuing to serve our customers and our country, especially at the mission’s edge.”

In February, Raft announced it had received a $100 million prime defense contract to develop cloud native software applications in collaboration with Kessel Run, a division within the Air Force Life Cycle Management Center.

Raft has more than 250 employees, the majority with the highest security clearances, and is currently hiring for C-suite roles, including chief financial officer, chief growth officer, head of emerging tech and several growth, account head and delivery roles, according to its website. In January, Raft hired former U.S. Air Force Commander Frederick “Trey” Coleman as chief product officer to lead its corporate offerings strategy, product portfolio and innovation.

Raft will serve as Washington Harbour’s platform for advanced software development for the Department of Defense, intelligence communities and some federal civilian agencies.

“We have great respect and admiration for the culture of excellence that Raft has built and their relentless commitment as a trusted partner to their deep customer relationships,” Jerad Speigel, operating partner of Washington Harbour, said in a statement. “Washington Harbour invests in and builds the next generation of blue chip, dominant companies in federal — market leaders ushering in whole new eras of technological use cases — and we are incredibly excited to continue to support Raft’s vital role in national security.”