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About Anchore

Anchore is the first SBOM-powered software supply chain management platform to help you reduce risk and increase transparency in software supply chains.

Company Size When We Started Working with them:  

50-60 employees 

Industry:  

Software- Bill of Materials

Government Experience Prior to Working with us: 

None 

LC Capture Strategist Working with the Company:  

Spencer Armstrong 

Problem Statement 

 

Anchore came to Long Capture in 2019 because they had a good leading tech with decent commercial traction, and they thought it could make a good transition to serve the federal market.

However, they didn’t know how to get started. They were unaware of the SBIR program, or any of the other avenues ahead to work with the federal government.

Timeline

September 2019

  • Began Work With Us

December 2019

  • Awarded their first Phase I
  • Amount: $50K  
  • Customer: Air Force 

March 2020

  • Awarded Phase II
  • Amount: $750K  
  • Customer: Air Force 

*note program is not typically as fast these days 

June 2020

  • Awarded an additional Phase II
  • Amount: $4.6M
  • Customer: Air Force

June 2021

  • Awarded Phase III
  • Amount: $4.6M 
  • Customer: Air Force

January 2022

  • Awarded a TACFI
  • Amount: $1.5M 
  • Customer: Air Force

*Usually pursued before a Phase III

Breakdown

From when they started working with us it took…  

  • 3 months to win a Phase I
  • 6 months to win a Phase II
  • 9 months to win an additional Phase II
  • 21 months to win a Phase III
  • 27 months to win a TACFI

Summary

Anchore recently raised a $20M series A. 

Many people think of this process as a completely linear structure, and at times it does work out that way. However, in some cases there is opportunity off the beaten path, and those opportunities should be explored.

In Anchore’s case, those opportunities included an additional Phase II (nearly $2m) and a TACFI that occurred after a Phase III ($1.5 M). Without a team willing to invest the time and energy to flip over any reasonable stone along the way, the company could have missed out on nearly $3.5M in federal funding.

This is why it is important to have a team who is well-versed and invested in the field, and adaptable enough to adjust in any way necessary.