A Los Angeles satellite maker is reportedly in talks to raise about $500 million in a deal that would value the company at roughly $4 billion, nearly double what it was worth four months and 17 days ago. Apex, which builds standardized satellite buses for commercial and government customers, has seen its valuation climb at a startling pace since it was founded in 2022.
According to Bloomberg, Washington Harbour Partners is set to lead the round, with existing investors Andreessen Horowitz and XYZ Venture Capital also participating. The reported $4 billion figure includes the new capital Apex is set to raise, and the details were provided by people familiar with the matter who asked to remain anonymous because the information is not yet public, the outlet reported.
If finalized, the deal would mark a stunning jump from Apex's prior round in June, when the company raised $200 million and reached a $2.3 billion valuation. The company's worth would be nearly doubling for the second time in under five months, a pace that has made Apex one of the fastest-growing names in the space sector.
A Rapid Climb From $1 Billion to $4 Billion
Apex's valuation has moved in startling leaps over roughly a year. The company was valued at $1 billion in September 2025 after raising $200 million in a Series D round, the report notes. That round was announced on September 12, 2025, and was led by Interlagos, pushing the company's valuation past the billion-dollar mark, according to a statement from Washington Harbour Partners.
By June 5, 2026, Apex announced it had raised $200 million in new growth funding, more than doubling its valuation to $2.3 billion, the company said in a release. That round was led by Glade Brook Capital Partners and co-led by Washington Harbour Partners, per the company's announcement. The repeated involvement of $200 million checks has become something of a pattern for Apex, which raised its third $200 million round in about 14 months, according to Payload.
What Apex Actually Builds
Founded in 2022 by Ian Cinnamon and Max Benassi, Apex builds satellite buses designed to host commercial and government payloads, including Earth-imaging capabilities and missile-tracking and defense sensors, according to Reuters. The company's three satellite platforms are named Aries, Nova, and Comet, according to a statement posted on the company's website.
Apex has also been scaling up its physical footprint to match its financial growth. The company signed a lease for a new 55,000-square-foot facility adjacent to its existing Los Angeles site in Playa Vista, more than doubling its Factory One footprint, the company said. With more than 100,000 square feet of total space, Apex said the expansion would accelerate spacecraft production by 50 percent. At peak production, the Factory One facility is capable of producing over 200 satellites per year, per the company's own figures.
The buildout has come alongside rapid hiring. Apex said its team had more than doubled in the prior year to over 350 employees, a pace of growth that mirrors the jumps in its valuation.
Investor Appetite for Space and Defense
The fundraising surge is unfolding amid what Reuters described as heightened investor enthusiasm in space exploration and defense. Apex's potential new round would follow its earlier funding rounds.
Whether the $500 million round at a $4 billion valuation ultimately closes on the terms described remains to be seen. Apex is still described as being in talks, and no company statement addressing the reported discussions was included in the available reporting.
