Novetta Inc. closed the third quarter with $284 million in contract awards, a 77 percent year-over-year increase, the company said.
The recent contract awards further establish Novetta’s leadership role in machine learning, computer vision, advanced data exploitation and cybersecurity research for the defense and intelligence communities, said Brian Hobbs, senior vice president for business development.
“Implementing a proven business development model most effectively promotes our ongoing investments in innovative technology,” he said. “We are now positioned to successfully capture much larger efforts that align with our culture of advanced technology.”
Novetta credited the increase in contract awards to recent investments of its BD team, as well as research advancements in computer vision, identity management, biometrics, cybersecurity research, and extensible artificial intelligence systems. Novetta’s focus on data fusion and automated discovery also allowed it to provide greater value at lower costs to customers who need to manage multiple streams of data in near real time, the company said.
“At Novetta, we pride ourselves on solving the hardest problems in national security at speed and scale,” CEO Tiffanny Gates said. “Strategically building out our business development team has yielded great internal and external partnerships, further positioning Novetta’s exceptional capabilities as reflected in the significant boost in wins.”