Dovel Technologies Secures Funding from Macquarie Capital
McLean, Virginia-based Dovel Technologies announced that it had secured funding from Macquarie Capital that will enable the company to expand across federal government, health information technology, life sciences and grants management business lines. The capital infusion will be used to broaden the company's federal support in biomedical informatics, scientific research and development, advanced analytics and artificial intelligence, and full lifecycle grants management and administration, according to the announcement. Dovel grew 60 percent annually between 2011 and 2017, transitioning from a small business to a successful mid-tier business with annual revenues of more than $200 million in 2018. The partnership with Macquarie will provide the capital needed for growth as the company looks to advance its development of solutions, services, and capabilities for new and developing customers, the company stated.
