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Antenna

Defense · Arlington, VA · Founded 2024 · Raised $168M · Growth stage

Twenty

Builds and scales the software and capabilities of modern cyber conflict, industrializing the American arsenal for the war of now

Review noteFounded 2024; raised a $100M Series B led by Accel at a $1B valuation in June 2026 and a further $30M from Khosla at $1.2B, for $168M in total. Source ↗

Edge

20#61 · ▲8 in 7d

2 of 8 families

Why now

  1. 27 of 44 open roles posted in the last 30 days, against 2 in the 30 days before

    Hiring · Oct 16

  2. Won $1.8M prototype OT from CDAO, 20 months after SAM registration

    Capital · Jun 18

  3. Appeared on the Tranco web ranking on Sep 30 and now ranks 3,060,179, unranked 30 and 90 days earlier

    Traffic · Sep 30

People

Score

Momentum57

 

Capital, hiring

Thesis fit85

× 0.89

Matched on battlefield, cdao, dod, industrial, military

Earliness11

× 0.47

Already visible: capital raised, funding stage

Team–

× 0.85

3 named people, none from a top lab or company

57 × 0.89 × 0.47 × 0.85 = 20

Edge, 12 weeks

Signals

  1. Oct 16Hiring27 of 44 open roles posted in the last 30 days, against 2 in the 30 days before↗
  2. Sep 30TrafficAppeared on the Tranco web ranking on Sep 30 and now ranks 3,060,179, unranked 30 and 90 days earlier↗
  3. Sep 25CapitalFiled first Form D: $131.3M sold of $131.5M in equity from 12 investors↗
  4. Jun 18CapitalWon $1.8M prototype OT from CDAO, 20 months after SAM registration↗