What NightDragon does

NightDragon is a SecureTech-focused growth-stage investment and advisory firm founded in 2012 by Dave DeWalt, the former CEO of McAfee, FireEye, and Mandiant. The firm is headquartered in San Francisco and operates as a Delaware LLC registered with the U.S. Securities and Exchange Commission as an investment adviser under the Investment Advisers Act of 1940. NightDragon invests in and advises mission-driven growth and late-stage companies across cybersecurity, defense, artificial intelligence, quantum, safety, security, and privacy, currently maintaining a portfolio of 18 companies. The firm was named in tribute to the 2006 'Night Dragon' nation-state cyberattacks that McAfee investigated while DeWalt led the company.

NightDragon's core offering is the NightScale Value Creation Platform, an integrated combination of people, programs, partnerships, and playbooks that delivers scalable operational support to portfolio companies. The platform comprises four dedicated programs — NightDragon Talent (recruiting and advisory), Go-to-Market Scaling (master service agreements, Syndicate Swarms, Portfolio Days), NightDragon Amplify (marketing, events, including the NightVision Fireside Chat series and the NightDragon Innovation Summit), and NightDragon Government Services (former-government advisory on public-sector GTM). The platform is supported by AI-enabled internal tooling (Claude, Affinity, Notion, custom tracking systems) used for portfolio engagement tracking, reporting, and workflow automation. The firm also publishes market research reports spanning autonomous defense, Israeli cyber M&A, physical security, disinformation, SMB cybersecurity, and evolving CISO roles.

NightDragon's business model centers on traditional investment fund economics. The firm earns management fees on committed capital from the $750M NightDragon Growth Fund I, L.P. (closed in 2021) and the undisclosed NightDragon Growth Fund II, L.P., plus carried interest on successful portfolio exits. Recent realizations include the May 2026 NYSE IPO of portfolio company HawkEye 360 (ticker HAWK) and the prior M&A exit of Capella Space, with active holdings in Dataminr, Saronic, Horizon3.ai, Epirus, Forterra, Classiq, Armada, and Starfish Space among others. Fund terms are disclosed only via Confidential Offering Memorandum to qualified purchasers. The firm serves three customer segments: growth-stage SecureTech companies (primary), institutional co-investors and LPs, and — through a flagship GDIT strategic collaboration — U.S. government agencies procuring cyber, AI, and autonomy solutions. Distribution is executed through direct portfolio-CEO engagement, master service agreements with channel and SI partners (Optiv, Mandiant, Carahsoft, Exclusive Networks, Deloitte, Macnica, NextGen), and curated co-investor syndicates featuring Andreessen Horowitz, BlackRock, Fortress, Franklin Templeton, Salesforce Ventures, HSBC, NEA, and Point72 Ventures.

Name

NightDragon

Legal name

NightDragon Management Company, LLC

Website

https://nightdragon.com

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

101–250 employees

Short description

NightDragon is a SecureTech-focused growth-stage investment and advisory firm managing growth equity capital across cybersecurity, defense, AI, and quantum technologies, serving 18 portfolio companies and institutional LPs through its NightScale Value Creation Platform.

Ownership category

akta.pro rank

NAICS

Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Security & Defense / GovTech Growth Equity (FSANACAN)

Keywords

• Growth-stage venture capital
• SecureTech investment advisory
• Cybersecurity private equity
• Defense technology investing
• Portfolio value creation platform

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Investment Fund Management Fees & Carried Interest: As a Registered Investment Advisor under SEC supervision, NightDragon earns traditional fund management economics from its $750M NightDragon Growth I fund and subsequent funds. Revenue derives from management fees on committed capital and carried interest on successful exits. Fund vehicles include NightDragon Growth Fund I, L.P. and NightDragon Growth Fund II, L.P.
2. Portfolio Company Value Realization (Exits): Realized returns from portfolio exits, including HawkEye 360 (NYSE IPO under ticker HAWK) and Capella Space (M&A exit), plus ongoing holdings in Dataminr, Saronic, Horizon3.ai, Epirus, Forterra and others. Investment returns flow through as fund-level carried interest.
3. Advisory & Platform Services (NightScale): NightScale Value Creation Platform delivers people, programs, partnerships and playbooks to portfolio companies. While not directly monetized as a separate fee stream, the platform strengthens portfolio performance and supports underlying fund returns.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels10 records

Core offering

NightDragon invests in and advises growth and late-stage companies in the SecureTech industry, including cybersecurity, defense, AI, quantum, safety, security, and privacy. The firm provides capital through SEC-regulated investment fund vehicles (NightDragon Growth Fund I, L.P. and Growth Fund II, L.P.) and delivers operator-led value creation through its NightScale Value Creation Platform, combining a 100+ advisor network, talent programs, go-to-market scaling, marketing amplification, and government services expertise.

Product overview

NightDragon is a SecureTech-focused growth-stage investment and advisory firm rather than a single SaaS product. Its core offering is the NightScale Value Creation Platform, a platform-plus-modules architecture that combines People (100+ advisors), Playbooks, Programs, and Partnerships. Under NightScale, the firm runs dedicated programs — NightDragon Talent, NightDragon Go-to-Market Scaling, NightDragon Amplify, and NightDragon Government Services — alongside the NightVision Fireside Chat series, the NightDragon Innovation Summit, and the NightDragon Market Reports research library. These offerings collectively support the firm's portfolio of SecureTech companies across cybersecurity, defense, AI, quantum, and national security, including investments in Dataminr, Horizon3.ai, Classiq, Saronic, Forterra, Epirus, HawkEye 360, Capella Space, Starfish Space, Armada, HUMAN Security, iboss, Immuta, Interos, IronCircle, Mezmo, Onapsis, Premise Data, RapidSOS, and Rhombus.

Differentiator

Problem solved

Functional benefit

Brands

• NightScale: NightScale Value Creation Platform — NightDragon's value-creation platform providing people, playbooks, programs, and partnerships to accelerate portfolio company growth across talent, go-to-market, marketing, and government services.
• NightVision
• NightDragon Growth Fund I, L.P.
• NightDragon Growth Fund II, L.P.

Products and services

• NightScale Value Creation Platform NightDragon's central value creation platform for portfolio companies, combining 100+ advisors, playbooks, and dedicated programs to accelerate growth across talent, go-to-market, marketing, and government services for SecureTech investments.
• NightDragon Growth Fund I, L.P. NightDragon's flagship $750M growth-stage investment fund vehicle for SecureTech companies, structured as a Delaware Limited Partnership. Available only to qualified purchasers pursuant to a Confidential Offering Memorandum; terms are not publicly disclosed.
• NightDragon Growth Fund II, L.P. NightDragon's second growth fund vehicle for SecureTech investments, disclosed alongside the HawkEye 360 NYSE IPO. Offered only to qualified purchasers pursuant to a Confidential Offering Memorandum; terms are not publicly disclosed.
• NightVision Fireside Chat Series Virtual and in-person fireside chat series hosted by NightDragon Founder and CEO Dave DeWalt with senior cybersecurity, defense, and national security leaders (e.g., Amy Gilliland of GDIT, Lt. Gen. Michelle McGuinness, David Koh, General Sir Chris Deverell). Designed to produce thought leadership content and amplify portfolio brands.
• NightDragon Innovation Summit In-person summit reinforcing public-private partnership and driving influence across the SecureTech ecosystem. Co-located with the Tomorrow's Titans pitch event and convened alongside NightDragon's RSAC cocktail party co-hosts.
• NightDragon Market Reports and Special Reports Recurring research publications covering market analyses (Autonomous Defense, Physical Security, Disinformation, SMB Cybersecurity, Cyber Leaders Outlook) and special reports (Israeli Cyber M&A Landscape, evolving CISO role). Distributed through the NightDragon Insights newsletter and website research hub.

Named customers20 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability3 records

Feature5 records

Partnerships

Twelve partnerships are on record, tiered tactical channel partner (facilitated by nightdragon), flagship / tier 1 strategic partner, core platform partner, strategic ecosystem partner, core channel partner (master service agreement), core government channel partner (master service agreement), core international channel partner, core systems integrator / consulting partner, channel partner (master service agreement), talent partner (master service agreement) and channel partner.

• TD SYNNEXtactical channel partner (facilitated by nightdragon)Channel Partner/ Reseller/ Distributor · 9 June 2026Strategic distribution partnership between TD SYNNEX and NightDragon portfolio company Dataminr, facilitated by NightDragon. TD SYNNEX will offer Dataminr's cyber defense platform to its network of more than 35,000 North American resellers. Partnership showcased at Cyber Live at the TD SYNNEX Cyber Range in Arizona.
• General Dynamics Information Technology (GDIT)flagship / tier 1 strategic partnerStrategic or Co-development Partner · 13 May 2026Strategic collaboration agreement to accelerate U.S. government adoption of emerging security technologies across AI, cybersecurity, and autonomy (air, sea, land, space, cyber). GDIT has already won more than $120M in contracts through NightDragon portfolio companies including Horizon3.ai for securing critical infrastructure at military bases. The partnership facilitates co-investment in technical solutions for national security, civilian, and health missions, expanding GDIT's emerging technology program under its Vision, Innovation and Acceleration (VIA) strategy.
• Knox Systemscore platform partnerTechnology or Integration · 28 April 2026Strategic partnership to advance secure cloud adoption and FedRAMP authorization across U.S. public and commercial sectors. NightDragon portfolio companies gain access to Knox's FedRAMP-authorized cloud, compliance, security and AI-driven monitoring (KnoxAI) platforms, allowing them to reach government customers faster. Knox delivers FedRAMP authorization in as little as 90 days.
• Silicon Valley Defense Group (SVDG)strategic ecosystem partnerGTM or Marketing Partner · 24 February 2026Strategic partnership to bridge innovation, capital, and national security. Joint activities include hosting events, convenings, and thought leadership around the NatSec100 list. SVDG has already engaged with several NightDragon portfolio companies including Dataminr, Saronic, Epirus, Forterra, and Horizon3.ai. NightDragon and SVDG will collaborate on government, industry, and investor alignment, accelerating dual-use technology adoption.
• Optivcore channel partner (master service agreement)Channel Partner/ Reseller/ DistributorMaster services agreement with Optiv, providing NightDragon portfolio companies with streamlined onboarding and preferential pre-negotiated terms for cybersecurity channel routes to market.
• Mandiantcore channel partner (master service agreement)Channel Partner/ Reseller/ DistributorMaster services agreement with Mandiant for NightDragon portfolio companies; relationship with Google Cloud-owned Mandiant reinforces the firm's cybersecurity market position.
• Carahsoftcore government channel partner (master service agreement)Channel Partner/ Reseller/ DistributorMaster services agreement with Carahsoft, the leading government IT solutions provider, enabling portfolio companies to access federal, state, and local government customers.
• Exclusive Networkscore international channel partnerChannel Partner/ Reseller/ DistributorMaster services agreement with Exclusive Networks, providing global cybersecurity distribution access for NightDragon portfolio companies.
• Deloittecore systems integrator / consulting partnerImplementation/ SI/ Consulting PartnerMaster services agreement with Deloitte, providing NightDragon portfolio companies with access to enterprise consulting and implementation services.
• Macnica Networkschannel partner (master service agreement)Channel Partner/ Reseller/ DistributorMaster services agreement with Macnica Networks, providing distribution and channel access into APAC markets for NightDragon portfolio companies.
• NextGen Cybertalenttalent partner (master service agreement)Implementation/ SI/ Consulting PartnerMaster service and referral agreement with NextGen Cybertalent, supporting portfolio companies' cybersecurity talent acquisition needs.
• NextGen Groupchannel partnerChannel Partner/ Reseller/ DistributorRelationship with NextGen Group, providing NightDragon portfolio companies with distribution and channel access (less formal relationship per NightScale platform page).

Scale indicators8 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Bessemer Venture Partners: Bessemer has a long-standing dedicated cybersecurity practice and a BVP Cyber State of the Union report, directly comparable to NightDragon's research output. It frequently co-invests in SecureTech growth rounds and partners on events such as the RSAC cocktail party.
• DataTribe: DataTribe is a cyber-focused investor that incubates and backs companies built by NSA, CIA and DoD operators. It is a direct thematic peer in the SecureTech / national security investing niche, though it typically operates at earlier stages than NightDragon.
• Ten Eleven Ventures: Ten Eleven is a dedicated cybersecurity venture and growth investor, often co-investing alongside NightDragon (e.g., HUMAN Security). It targets the same SecureTech growth-stage companies but skews earlier-stage than NightDragon.
• Forgepoint Capital: Forgepoint Capital is a cybersecurity-focused growth and late-stage investor with a similar SecureTech thesis, advisor-driven model, and emphasis on government and enterprise cyber. It is one of the closest direct thematic peers to NightDragon.
• YL Ventures: YL Ventures is an Israel-focused cybersecurity venture and growth investor with deep government and dual-use exposure. It overlaps with NightDragon's Israel cyber thesis and is a natural peer in the global SecureTech investing ecosystem.
• Team8: Team8 is a cybersecurity-focused venture builder and investor with an operator-led model similar to NightDragon's, and is a frequent co-investor and event partner (e.g., the RSAC cocktail). It is comparable in the cyber-specific thematic and ecosystem approach.

Broad incumbents

• Insight Partners: Insight Partners is a large-scale software and security growth investor with a dedicated cyber practice and scale-up operating model (Insight Onsite). It competes for late-stage rounds and is a frequent co-investor in NightDragon-relevant companies.
• KKR: KKR has a dedicated technology and security strategy (including past investments in Optiv, Cylance, and other cyber assets) and competes for SecureTech growth and buyout opportunities with substantially larger fund vehicles.
• Vista Equity Partners: Vista is a large-cap software and cybersecurity-focused growth and buyout sponsor with operating value-creation programs comparable in spirit to NightScale. It competes for similar SecureTech growth assets at the upper end of the check-size range.
• Thoma Bravo: Thoma Bravo is one of the largest dedicated cybersecurity and enterprise software investors, with mega-fund vehicles that compete with NightDragon for late-stage SecureTech rounds. It is the most direct broad incumbent given its thematic focus on cyber and government software.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/nightdragon
• LinkedInlinkedin.com/company/nightdragon-security

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments44 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NightDragon