Northwood Space Raises $375M at $2B Valuation in a16z, DFJ Growth Series C
Northwood Space raises $375 million at a $2 billion valuation to expand satellite ground systems, hire staff and fulfill existing U.S. Space Force contracts.
Summary
Northwood Space raised $375 million in a Series C announced Monday, November 2, 2026, valuing the space infrastructure company at $2 billion. Andreessen Horowitz, also known as a16z, and DFJ Growth co-led the round, which includes a separate financial agreement with HSBC whose value and terms were not disclosed.
Founded in 2022, Northwood builds antennas, software and other technology connecting satellites with Earth. Co-founder and former actress Bridgit Mendler is CEO. In January 2026, Northwood raised a $100 million Series B, also co-led by Andreessen Horowitz, and secured a nearly $50 million U.S. Space Force contract to upgrade the national satellite control network. The new capital and HSBC financing will fund scaling, hiring and delivery of existing contracts.
Positives
- $375 million in Series C funding gives Northwood Space substantial capital to expand its satellite communications infrastructure.
- $2 billion valuation marks rapid growth for a company founded in 2022.
- Andreessen Horowitz and DFJ Growth co-led the round, extending Northwood’s backing from major growth investors.
- Nearly $50 million from the U.S. Space Force supports upgrades to the national satellite control network.
- HSBC’s financial agreement adds financing beyond the Series C for scaling, hiring and contract delivery.
Risks & concerns
- HSBC’s agreement value and terms were not disclosed, limiting visibility into Northwood’s total financing.
- Northwood must translate the new capital into scaling, recruitment and fulfillment of existing contracts.
- No hiring targets, expansion milestones or contract delivery timetable accompanied the funding announcement.