Northwood Raises $375 Million in Round Valuing It at $2 Billion
Key Facts
Northwood announced on November 2, 2026, that it had closed a $375 million Series C funding round, valuing the company at $2 billion, according to TechCrunch. Andreessen Horowitz and DFJ Growth led the round, while the company said the funding would accelerate execution of existing contracts, talent recruitment and expansion of its global ground network. The funding comes as the number of satellites requiring ground stations for communications and data transfer is rising. The network Northwood is building serves commercial and U.S. government missions, as well as missions for U.S. allies. The company did not disclose the terms of the round or the investors’ ownership stakes.
Washington Harbour Partners, which led the previous Series B round, participated alongside Alpine Space Ventures, Stepstone, In-Q-Tel and other investors, according to the company. Northwood described Washington Harbour’s investment as a significant follow-on, linking the new round to an investor that participated in its previous financing. The company also announced a separate, multiyear credit facility from HSBC Innovation Banking. It said the facility would support working capital and network expansion, alongside the proceeds from the equity financing. The bank financing gives the company an additional source of support for operating and expansion needs as it executes existing contracts.
The company places its network expansion in the context of rapid growth in the number of active satellites, saying the total rose from about 3,000 in 2020 to more than 14,000 by the end of 2025. It added that tens of thousands more satellites are expected by 2030. Northwood uses these figures to explain the need for a ground network capable of serving more space missions. Since its Series B round, the company has deployed six multi-orbit sites across two continents. These sites provide an operational foundation for the network it plans to expand to meet the needs of commercial and government customers and allies.
Northwood raised $100 million in a Series B round in February 2026. The company said at the time that the round followed the signing of contracts, including a $49.8 million contract with the U.S. Space Force. The contract highlights part of the government demand base the company says it serves, alongside commercial customers and allies. In another operational milestone, Northwood said it had combined ten Portal antennas to achieve reception performance equivalent to a 20-foot dish. This reflects the company’s use of antenna aggregation in its ground infrastructure, alongside the deployment of multi-orbit sites.
The company expanded its industrial footprint in September 2026 by opening a new headquarters and factory in Torrance, California, spanning 185,000 square feet. It said the facility increased its manufacturing footprint to more than five times its previous level. The company said it had more than 140 employees by November 2, 2026, and plans to add 400 jobs in Torrance and Washington, D.C., over three years. This expansion links increased manufacturing capacity with the company’s plan to accelerate contract execution and expand its network. Northwood says the new funding will also support recruiting the employees needed for that expansion.
Northwood plans to announce several site and network expansions in the first half of 2027, according to its funding announcement. It also said new sites in high-demand areas could provide capacity exceeding 100 gigabits per second by the end of 2027. These plans set out the next stage of network expansion after the deployment of the six existing sites across two continents. The company links broader geographic coverage with increased capacity in areas it describes as having high demand. The announcement did not specify the locations of the planned expansions or their detailed implementation schedule.