Seattle's Hubble Network hits $1.6 billion valuation in $200 million round

Seattle space startup Hubble Network has raised $200 million at a $1.6 billion valuation, according to a report by Rick Morgan, senior reporter at the Puget Sound Business Journal, published September 23, 2026.

The round marks a sharp step up for the company. A year earlier, Hubble Network raised a $70 million round. The new deal values the five-year-old startup at $1.6 billion and brings its total funding since founding to $300 million.

What does the company plan to do with the money?

Hubble Network aims to expand its satellite network tenfold by 2030, the Puget Sound Business Journal reported. The company did not disclose a detailed breakdown of how the $200 million will be deployed.

The deal structure and the full investor list were not disclosed in the publicly available portion of the report. The URL of the original article references Samsara and Haro, suggesting participation by fleet-management company Samsara, though the subscriber-only body of the story does not confirm the final roster.

How fast has Hubble Network grown?

The funding trajectory is steep. Consider the record:

• Founded five years ago in Seattle.
• Raised a $70 million round in 2025.
• Raised $200 million in the latest round reported September 23, 2026.
• Total capital raised: $300 million.
• Current valuation: $1.6 billion.

That means roughly two-thirds of the company's lifetime funding has arrived within the past year, and the new valuation represents the startup's ascent into unicorn territory.

The round nearly triples the company's total capital base in a single deal. It also signals that investors continue to reward satellite-network businesses with outsized checks despite a broader cooling in venture activity.

Where does this fit in Seattle's space sector?

Hubble Network is not the only Puget Sound-area space company attracting large checks this year. Related coverage by the Puget Sound Business Journal shows a cluster of significant deals:

• Kent-based rocket startup Stoke Space raised $1 billion in a Series E round led by Point72, reported September 8, 2026.
• Marysville startup Gravitics won a NASA award and a Department of Defense contract, reported August 10, 2026.
• Portal Space Systems, a space startup preparing to open a Bothell plant, raised $50 million in April 2026 with backing from Supernova and Starburst.

At the same time, the regional venture market has grown uneven. The Business Journal reported in July 2026 that Seattle-area VC deals slowed amid a top-heavy market, and in April 2026 it documented a widening funding gap between the region's haves and have-nots.

Against that backdrop, Hubble Network's $1.6 billion valuation stands out. Large rounds are concentrating in a small number of winners, and space infrastructure is clearly among the categories where capital is still flowing at scale.

What comes next?

The stated benchmark is 2030. Hubble Network's plan to expand its satellite constellation tenfold by then sets a measurable target for a company that has moved from a $70 million round to a $1.6 billion valuation in twelve months. Whether the buildout stays on schedule will determine whether this round was a growth catalyst or a peak.