Northwood said it raised $375 million in a Series C at a $2 billion valuation.
Why it matters: The financing gives Northwood capital to expand ground infrastructure connecting satellite operators with communications networks. The company said it will use the funding for contracts, hiring and network expansion.
- Northwood said Andreessen Horowitz and DFJ Growth co-led the Series C announced Nov. 2, 2026.
- Satellite Today separately reported the $375 million financing; Northwood reported the $2 billion valuation.
- Northwood said it had deployed six sites across two continents and opened a 185,000-square-foot Torrance headquarters and factory.
- The company said it had more than 140 employees and planned to add 400 jobs in Torrance and Washington, D.C., over three years.
Northwood Space said it closed a $375 million Series C on Nov. 2, 2026, at a $2 billion valuation, according to its company announcement. Satellite Today separately reported the $375 million raise. The valuation remains a company-reported figure. Northwood did not specify whether it is post-money, and the available materials do not establish whether all $375 million was equity.
Northwood's announcement also describes a separate, multi-year credit facility from HSBC Innovation Banking. The Series C investors included Andreessen Horowitz and DFJ Growth as co-leads, plus follow-on investment from Washington Harbour Partners, which led Northwood's $100 million Series B, along with Alpine Space Ventures, StepStone and In-Q-Tel.
Northwood builds satellite ground infrastructure. Its Portal product uses phased-array antennas, which electronically steer signals without mechanically rotating the antenna. Its Prism product uses parabolic antennas, dish-shaped systems commonly used to focus satellite signals for high-volume data transmission.
The company describes its network as shared and multi-orbit-capable. Northwood said the new capital will fund existing contracts, hiring and global network expansion. Since its previous financing, it said it had deployed six sites across two continents and opened a 185,000-square-foot headquarters and factory in Torrance. The company said the facility expanded its manufacturing footprint more than fivefold.
Northwood said it had more than 140 employees and planned to add 400 jobs over three years in Torrance and Washington, D.C. The company was founded in 2022 by Bridgit Mendler, Griffin Cleverly and Shaurya Luthra. Mendler is chief executive.
By the numbers
- $375 million - Series C financing announced by Northwood
- $2 billion - valuation reported by Northwood
- 400 jobs - planned additions in Torrance and Washington, D.C., over three years
Yes, but: The $2 billion valuation is company-reported, and the available materials do not specify whether it is post-money or whether the full financing was equity.