Booz Allen Ventures to accelerate deployment of commercial tech for federal clients
MCLEAN, Va.--(BUSINESS WIRE)--Jul. 13, 2022-- Booz Allen Hamilton (NYSE: BAH) announced today the formation of Booz Allen Ventures, LLC, a $100 million corporate venture capital arm that furthers the firm’s commitment to invest in strategic dual-use, commercial technologies that will provide federal clients disruptive technology for critical missions. Aligned with client demand and the firm’s VoLT (Velocity, Leadership, Technology) growth strategy, Booz Allen Ventures will invest in early-stage companies and technologies within four core areas of demand: defense, artificial intelligence/machine learning, cybersecurity, and deep technology.
“We are proud and excited to continue our work with the best startups to support our U.S. government clients. The ability to navigate bigger, faster technology waves and identify the right emerging technologies for their mission needs, as well as our own, is vital to enabling growth and mission speed,” said Susan Penfield, Booz Allen’s Chief technology officer. “Booz Allen Ventures taps into America’s collective ingenuity by investing in software, hardware, and deep-tech startups that offer differentiated applications for the federal sphere, providing our clients access to a next-generation supply chain of breakthroughs critical to America’s national security and economic vitality.”
Booz Allen Ventures will enable Booz Allen to further expand its existing Tech Scouting capability to source and recommend technology investments with a focus on differentiated and mission-specific applications that demonstrate clear potential to outperform the industry average. Recent such investments include Latent AI, Synthetaic, and Reveal Technology.
“Our Tech Scouting program gives us unique insight about where opportunities for hyper-growth exist. But anticipating opportunity isn’t sufficient – we need to deploy capital to move at digital speed,” said Brian MacCarthy, vice president of tech scouting and ventures at Booz Allen. “Booz Allen Ventures allows us to actively bridge the gap between opportunity and capability and accelerate the services-to-solutions transformation. As a strategic investor at the intersection of technology and mission, we are uniquely positioned to lead, connect, and convene advanced tech solutions to drive change in government, faster than ever before.”
To learn more about Booz Allen Ventures or reach its investment team, visit https://www.boozallen.com/expertise/innovation/ventures.html.
About Booz Allen Hamilton
For more than 100 years, military, government, and business leaders have turned to Booz Allen Hamilton to solve their most complex problems. As a consulting firm with experts in analytics, digital solutions, engineering, and cyber, we help organizations transform. We are a key partner on some of the most innovative programs for governments worldwide and trusted by its most sensitive agencies. We work shoulder-to-shoulder with clients, using a mission-first approach to choose the right strategy and technology to help them realize their vision.
With global headquarters in McLean, Virginia, our firm employs nearly 29,300 people globally as of March 31, 2022, and had revenue of $8.4 billion for the 12 months ended March 31, 2022. To learn more, visit www.boozallen.com. (NYSE: BAH)
Forward Looking Statements
Certain statements contained in this press release and in comments by our management include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include information concerning Booz Allen Ventures, LLC and related matters, prospective performance and opportunities, and any expected benefits, as well as any other statement that does not directly relate to any historical or current fact. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “could,” “should,” “forecasts,” “expects,” “intends,” “plans,” “anticipates,” “projects,” “outlook,” “believes,” “estimates,” “predicts,” “potential,” “continue,” “preliminary,” or the negative of these terms or other comparable terminology. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we can give you no assurance these expectations will prove to have been correct. These forward-looking statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to differ materially from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements.
Additional information concerning risks and uncertainties and other factors can be found in our filings with the Securities and Exchange Commission (the SEC), including in our Annual Report on Form 10-K filed with the SEC on May 20, 2022. All forward looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made and, except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220713005011/en/
Amanda Allison-Martini, Booz Allen Media Relations: Allison_Amanda@bah.com
Nathan P. Rutledge, Booz Allen Investor Relations: Rutledge_Nathan@bah.com
Source: Booz Allen Hamilton Holding Corporation