Parry Labs – a defense technology company that is developing next generation open architecture mission solutions – announced the completion of an $80 million funding raise – which is the company’s first institutional investment round. This strategic growth equity funding was led by Capitol Meridian Partners and included participation from True Ventures, 3Wire Partners, and Teamworthy Ventures.
This growth capital will primarily be used to accelerate investments in the company’s core technologies and to bring new, advanced edge capabilities to the warfighter, including command and control, mission-critical software, interoperability, and advanced AI computing. Parry Labs’ digital systems integration solutions improve combat readiness and defense capability by enabling faster, more advanced, and cost-effective systems.
Parry Labs is a digital systems integrator that modernizes legacy platforms and accelerates new platform development. The company offers an open-architecture software stack, Stratia, which serves as the digital backbone of its edge compute solutions. It also offers electronic warfare products that enable defense customers to accelerate key national priorities.
KEY QUOTES:
“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. We are excited to partner with Capitol Meridian Partners and this group of investors who have deep expertise in defense and technology, as well as proven track records of supporting high growth companies that will benefit the company in our continued growth as we lead the way in redefining the edge for combat effectiveness.”
- Parry Labs Founder and CEO John Parkes
“Parry Labs has rightly earned its reputation for innovation and quality. 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. We are excited to partner with John and the rest of the management team as we invest in new technologies, accelerate the adoption of technology for the warfighter and drive innovation throughout the defense ecosystem. We believe our experience and founder-friendly investment approach well position Capitol Meridian Partners to support Parry Labs’ accelerating growth plans.”
- Brooke Coburn, Founding Partner at Capitol Meridian Partners
“Legacy and next generation defense systems need a technology partner to bring them into the era of tactical edge computing. Parry Labs’ growth to date is a testament to John’s leadership in the sector and, given our experience helping software and cloud infrastructure companies scale, we jumped at the opportunity to support Parry’s continued expansion. Parry’s solutions make defense platforms nimbler and more adaptable – and ensure the longevity and modernization of existing systems.”
- True Ventures Partner Gus Coldebella
