Allen Control Systems has raised a $150m debt package from Silicon Valley Bank (SVB), Hercules Capital and Pinegrove Credit Partners. The financing comprises a senior line of credit and a mezzanine term loan, with SVB as administrative agent, to fuel continued expansion and scale manufacturing.
Dax Williamson, SVB's national head of aerospace, defense and security, told the Austin Business Journal that the "combination of breakthrough technology, strong execution and a clear mission has positioned Allen Control Systems as an emerging leader in defense innovation". He added: "We look forward to helping the company capitalize on the opportunities ahead as it increases production, grows its customer base, and advances technologies designed to strengthen national security."
Austin-based ACS develops counter-drone systems, including Bullfrog, an AI-powered robotic weapon station used by the US Army and Navy. Led by chief executive Mike Wior, it is scaling Bullfrog production at a roughly 192,000-square-foot North Austin manufacturing site that began operations on 21 September 2026, with about 400 staff.
Previous funding was a $12m seed in April 2024 and $30m Series A in March 2025, both led by Craft, plus a $200m Series B in June 2026 at a $2.2bn post-money valuation led by Smash Capital. Breaking Defense reported ACS was one of ten awards on a US Army counter-drone IDIQ, with a $500m base for ACS within a vehicle of up to $7bn.