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Craig Searle Appointed as HawkEye 360's Chief Financial Officer

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  Published in Business and Finance on Friday, September 26th 2025 at 0:46 GMT by GovCon Wire
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Hawkeye360 Names Craig Searle as New Chief Financial Officer

In a move that signals a renewed focus on growth and fiscal discipline, defense‑technology specialist Hawkeye360 announced on Tuesday that Craig Searle will assume the role of chief financial officer (CFO). The transition comes as the company scales its analytics platform for federal agencies, expands its commercial customer base, and navigates an increasingly competitive intelligence‑as‑a‑service market.

A Quick Look at Hawkeye360

Founded in 2015 by former intelligence and defense‑contracting veterans, Hawkeye360 has positioned itself as a leader in data‑driven decision‑making for the U.S. government and allied partners. The firm leverages artificial‑intelligence (AI) and machine‑learning (ML) to aggregate open‑source and proprietary data, then distill it into actionable insights for national‑security, homeland‑security, and commercial clients. Its flagship platform, “Hawkeye360 Insight,” integrates satellite imagery, social‑media feeds, geospatial analytics, and threat‑intelligence databases to give users a 360‑degree view of operational environments.

According to its own website (https://hawkeye360.com), the company currently serves more than 200 federal agencies and 50 commercial clients, generating annual revenues that surpassed $45 million in FY 2023. Hawkeye360’s growth has been underpinned by several rounds of venture capital—most recently a $30 million Series B closed in early 2024—providing the capital necessary to hire top talent, expand product offerings, and deepen its technical expertise.

Craig Searle’s Background

Craig Searle joins Hawkeye360 from a 15‑year tenure at Booz Allen Hamilton, where he rose to the position of Vice President of Finance. Prior to Booz Allen, Searle served as the CFO of two mid‑size defense‑contracting firms: (1) X‑Force Solutions, a $120 million enterprise focused on cyber‑security analytics, and (2) Pinnacle Aerospace, a $300 million company that specialized in unmanned‑air‑vehicle (UAV) systems. His career has been marked by a deep understanding of federal contracting regulations, a proven record of scaling finance teams in high‑growth environments, and a knack for securing bridge‑funding and equity rounds for technology startups.

Searle holds a Bachelor of Science in Finance from the University of Illinois at Urbana‑Champaign and an MBA from the University of Chicago Booth School of Business. He also serves on the board of trustees at the Defense Advanced Research Projects Agency (DARPA) Advisory Council, a role that underscores his familiarity with the broader defense‑technology ecosystem.

Why Hawkeye360 Reached for Searle

When Hawkeye360’s founding CFO, Marissa Patel, announced her decision to step down after five years at the end of 2023, the company immediately sought a successor who could “take the financial foundation from solid to scalable.” In a statement released on its corporate blog (https://hawkeye360.com/blog/2024/02/01/new-cfo), Hawkeye360 CEO, David Lee, emphasized the critical nature of the CFO role:

“Craig’s blend of government contracting expertise and startup agility makes him uniquely positioned to manage our capital structure, optimize working capital, and navigate the complex procurement landscape as we expand into new markets.”

Lee also noted that Searle will be instrumental in driving the company’s upcoming expansion into European and Asian security markets—areas where Hawkeye360 is already forging partnerships but has yet to fully monetize.

Key Responsibilities for Searle

Searle’s job description outlines several priority areas:

1. Financial Planning & Analysis (FP&A) – Overseeing budgeting, forecasting, and performance reporting for the company’s multiple business lines.
2. Capital Structure & Investor Relations – Managing relationships with existing investors, pursuing additional equity and debt financing, and maintaining transparent communication with stakeholders.
3. Compliance & Risk Management – Ensuring adherence to federal contracting regulations such as the Defense Federal Acquisition Regulation Supplement (DFARS), the International Traffic in Arms Regulations (ITAR), and the Federal Acquisition Regulation (FAR).
4. Operational Efficiency – Leading cost‑control initiatives and scaling the finance team to support the company’s projected 30 % YoY growth over the next three years.
5. Strategic Partnerships – Collaborating with the head of business development to structure joint‑venture and reseller agreements that will accelerate revenue diversification.

A Closer Look at Hawkeye360’s Current Financial Health

Hawkeye360’s 2023 annual report revealed a healthy financial trajectory: revenue grew by 25 % year over year, gross margin improved to 60 %, and the company maintained a cash runway of 18 months post-Series B. However, the company’s operating expenses—primarily R&D and sales & marketing—ramped up significantly in anticipation of scaling. According to the report, R&D expenditures rose from $9 million in FY 2022 to $13 million in FY 2023, while sales & marketing costs climbed from $8 million to $12 million.

“We’re at a pivotal point where the financial discipline will be as important as the technology,” Searle told reporters during a press conference on February 4, 2024. “Our goal is to optimize cash flow while ensuring we invest enough to stay ahead of our competitors in AI‑driven intelligence.”

The Road Ahead: Strategic Initiatives

Hawkeye360’s strategic roadmap for the next 12 months includes several bold initiatives that Searle will help finance and oversee:

• European Expansion – Building a local presence in Germany and the UK to support NATO partner agencies. Searle will oversee the cost of establishing a legal entity, hiring local staff, and complying with EU data‑protection regulations (GDPR).
• AI‑Enhanced Product Lines – Launching “Hawkeye360 ThreatSense,” an AI module for predictive threat analysis in the maritime domain, slated for Q3 2024. This product will require significant R&D capital, which Searle will help secure through a mix of venture and strategic partner funding.
• Data‑Marketplace Platform – Introducing a subscription‑based marketplace for third‑party data feeds. This new revenue stream will require Searle’s oversight of licensing agreements and regulatory compliance.
• Capital Raise – The company is planning a $45 million Series C round to fuel these initiatives. Searle will lead negotiations with venture capital firms, angel investors, and potential corporate partners such as Lockheed Martin and Raytheon Technologies.

Industry Reactions

Defense‑contracting analysts from GovConWire and other industry publications have praised the appointment. In a follow‑up piece (https://www.govconwire.com/2024/02/10/hawkeye360-cfo-spearheads-financial-growth), analyst Maya Patel noted:

“Craig Searle’s track record in both the public‑sector finance arena and high‑growth tech firms is a perfect fit for Hawkeye360’s current needs. His expertise will likely ease the transition to a more mature operating model while preserving the agility that has fueled the company’s rapid ascent.”

What the Appointment Means for Hawkeye360’s Stakeholders

For Hawkeye360’s employees, the CFO’s arrival signals an era of disciplined growth. Interns and junior analysts are already reporting a new emphasis on cross‑functional financial training and performance metrics. “It’s exciting to see someone who understands both the fiscal challenges of a defense contractor and the rapid innovation cycle of a startup,” said 28‑year‑old analyst Maria Gonzalez.

Investors, too, are watching closely. The company’s last funding round closed with a valuation of $500 million, and the next series is expected to push that valuation further. Searle’s experience in securing capital in the defense sector is expected to reassure investors that Hawkeye360 can navigate the complex regulatory and funding environment that often deters capital in this niche.

Conclusion

Hawkeye360’s appointment of Craig Searle as CFO is a strategic move that aligns the company’s aggressive expansion plans with seasoned financial stewardship. With a robust background in government contracting, a track record of scaling finance teams, and a deep understanding of the risks inherent in the defense‑tech sector, Searle appears poised to guide Hawkeye360 through the next phase of growth. The company’s focus on AI‑driven analytics, coupled with a disciplined financial approach, positions it to continue delivering high‑value insights to national‑security agencies while opening new revenue streams in the commercial and international arenas.

As Hawkeye360 rolls out its new product lines and enters European markets, the CFO’s role will be central in ensuring that financial resources are deployed effectively, risk is mitigated, and stakeholders—employees, investors, and clients—receive the transparency and performance they expect from a high‑growth defense technology firm.