Arlington-based global telecommunications company OneWeb has secured $1.2 billion in private equity funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced March 18 and led by Government of the Republic of Rwanda.
According to its Crunchbase profile, "OneWeb can address the most demanding global connectivity challenges and sudden infrastructure crises. Those affected by hurricanes, earthquakes and refugee situations are often abruptly without infrastructure — OneWeb will bridge these gaps providing instantly deployable connectivity or long-term access solutions."
The seven-year-old company has raised three previous funding rounds, including a $1.2 billion private equity round in 2016.
In other local funding news, Human Resources app ShiftOne announced a $2.6 million seed funding round on Feb. 26, led by The Entrepreneurs' Fund.
According to Crunchbase, "ShiftOne is a mobile app that reduces turnover, drives incremental revenue, and makes work a better place for hourly employees and managers. It leverages real-time, individual performance data, typically from a point-of-sale system or guest review collector, to power competitions, encourage communication and recognition, and monitor operational health factors like attrition risk. It's supplemented by automated, AI-driven analysis tools that equip leadership at every level with the knowledge and means to support and retain their teams, without having to lift a finger."
The company also raised a $2.3 million seed round in 2017.
Over the past year, seven Arlington-based software companies have secured venture funding, totaling $1.2 billion in new investment to the local industry.
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