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Private companiesTracked

Portal Space Systems

Bothell, WA · Founded 2021

Portal Space Systems builds rapidly maneuverable spacecraft for defense and commercial missions across orbital regimes. Its Supernova vehicle runs on FLARE, the company’s solar thermal propulsion system, which concentrates sunlight to heat propellant.

Profile

What it builds and who buys it

  • ·Supernova will fly FLARE solar thermal propulsion for the first time on Motus Via Sol, a SpaceX Falcon 9 mission in 2028.Portal Space Systems (company release), Aug 20, 2026
  • ·Starburst-1 is to demonstrate rendezvous and proximity operations, rapid retasking and orbital maneuvering. Supernova shares more than 80% of its systems with Starburst.Portal Space Systems (company release), Apr 9, 2026
  • ·Starburst-1 is manifested on SpaceX’s Bandwagon-5 rideshare mission for October 2026.Portal Space Systems (company release), Aug 20, 2026
  • ·Its Mini-Nova spacecraft gave the flight computer and power system flight heritage, and the HEX thruster reached operational performance in thermal-vacuum ground tests.Portal Space Systems (company release), Apr 9, 2026
  • ·TechCrunch reported, citing Booz Allen Ventures, that Portal has received $45 million in strategic funding from the U.S. military on top of $67.5 million in private capital.TechCrunch, Apr 9, 2026
  • ·Portal and Paladin Space are developing debris removal as a service on Starburst, and the space station developer Starlab has engaged with the company as a commercial customer.Portal Space Systems (company release), Apr 9, 2026
  • ·Portal has expanded into a 62,000-square-foot manufacturing facility in Bothell, Washington.Portal Space Systems (company release), Aug 20, 2026

Founders and leadership

  • Jeff ThornburgChief executive and co-founder

    Was vice president of propulsion engineering at SpaceX, where he architected and developed the Raptor engine, director of mechanical engineering and manufacturing for Amazon’s Project Kuiper, and chief of engineering at Commonwealth Fusion Systems.Portal Space Systems

  • Prashaanth RavindranCo-founder and vice president of engineering

    Worked as a senior propulsion analyst at Blue Origin on the BE-4 engine and held propulsion roles at Stratolaunch, Interstellar Technologies and Cummins. He holds a PhD in aerospace engineering from the University of Texas at Arlington.Portal Space Systems

  • Ian VorbachCo-founder and chief revenue officer

    Helped scale the consumer brands BodyArmor and CORE Hydration, worked at Stratolaunch and Interstellar Technologies, and wrote the space industry newsletter SpaceDotBiz.Portal Space Systems

Funding

Last valuation

$250M

Post-money, Series A, reportedTechCrunch, Apr 9, 2026

Last round or tender

$50Mraised

Series APortal Space Systems (company release), Apr 9, 2026

Led by Geodesic Capital and Mach33, with Booz Allen Ventures, ARK Invest, AlleyCorp and FUSE. TechCrunch reported that the round values the company at $250 million and did not say whether that is pre- or post-money; the company’s release states no valuation. The Form D for an equity offering begun March 11, 2026 records $61.5 million sold to 32 investors of $72.4 million offered, and does not name the round.

Latest revenue figure

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Valuation to revenue

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Post-money valuation by round

Fewer than two dated figures on file to plot; the table carries what there is.

DateRoundRaisedPost-money
Apr 9, 2026Series ALed by Geodesic Capital and Mach33, with Booz Allen Ventures, ARK Invest, AlleyCorp and FUSE. TechCrunch reported that the round values the company at $250 million and did not say whether that is pre- or post-money; the company’s release states no valuation. The Form D for an equity offering begun March 11, 2026 records $61.5 million sold to 32 investors of $72.4 million offered, and does not name the round.$50M$250Mreported
Apr 3, 2025SeedLed by AlleyCorp, with Mach33, FUSE, First In, TFX, Offline Ventures and Atypical. No valuation was stated.$18M—

Primary capital across the rounds on file: $67.5M

Revenue

No citable revenue figure on file.

Secondary venues

No public venue page on file.

A venue is listed when its public page named the company on the date shown. A price is the figure that page showed, under the venue’s own name for it and dated as the venue dated it; it is a level the venue publishes, not a trade. Nothing is recorded from behind a login.

Reads

Tracked only. No read has been prepared for this company; the figures above are the record.

Sources

Researched Oct 15, 2026