Stoney Lonesome Group

Technology Focus Areas (Top 4): Medical Devices; Human Performance; Cyber; Autonomy

Series: Seed, Series A

Location: Tampa FL

Stony Lonesome Group: Complete History and Impact

The Mission-Focused Story

Stony Lonesome Group (SLG) has carved out a unique niche in the venture world since its founding in 2011. Now based in Tampa, Florida, this firm has built its reputation around dual-use technology startups – companies that serve both commercial and defense markets – with a particular focus on veteran-led ventures.

What sets SLG apart is their "mission-focused" approach. They're not just looking for the next unicorn; they're backing companies that align profit with purpose, particularly those that strengthen U.S. national security and support the veteran community.

Building the Fund Portfolio

SLG has raised five funds since inception, showing steady growth and evolution:

Fund I (2014): $1.0 Million Their debut fund focused on seed and Series A rounds, proving the concept that veteran-led startups could deliver returns.

Fund II (2016): $5.5 Million A significant step up, this fund expanded their reach across seed through Series B deals.

Fund III (2017): ~$10 Million Targeted cybersecurity and big data companies, showing their increasing focus on dual-use technologies.

Fund IV (Current): Targeting ~$150 Million A major pivot to later-stage "dual-use" growth investments, representing a significant scale-up in fund size.

Fund V (Planned): $50-100 Million Continuing their dual-use, defense-first thesis as they look ahead.

Across all vehicles, SLG has deployed roughly $100 million into over 70 portfolio companies. Their check sizes have grown over time – from $250K-$1M in early funds to $500K-$2M initial investments in recent years, with reserves for follow-on funding.

What's impressive is their collaborative approach. They regularly co-invest alongside major firms like NEA, GE Ventures, Salesforce Ventures, Boeing HorizonX, and Techstars, allowing them to punch above their weight in deal size and support.

The Leadership Team

SLG's team reads like a who's who of military and business leadership.

Sean Drake – Founder & Managing Partner A former U.S. Army infantry captain, Sean serves as Managing General Partner and Chief Investment Officer. Beyond his military service, Drake co-founded a broker-dealer and even coached at the U.S. Olympic Training Center. He's the public face of SLG and sits on numerous portfolio company boards, bringing a unique blend of military discipline and business acumen.

Hon. Patrick J. Murphy – General Partner & Advisor Murphy brings serious political and policy credentials as the former 32nd Under Secretary of the Army (and Acting Secretary) and the first Iraq War veteran elected to Congress. He joined SLG as General Partner in 2019, lending his network and policy expertise to the firm's mission.

Lt. Gen. Brooks "Bullet" Bash (USAF Ret.) – General Partner A retired 3-star Air Force general with 34 years of military experience, Bash was in the White House Situation Room on 9/11 and held commands in Iraq and other theaters. He joined as Venture Partner and was promoted to General Partner in 2019, contributing deal sourcing in aerospace/defense.

Don H. Noble – Partner An Army Special Forces veteran with two tours in Vietnam and decorated military background (Silver Star, Purple Hearts), Noble brings both military experience and corporate expertise in executive recruiting to help with leadership development across the portfolio.

The extended team includes sector-specific advisors like Maj. Gen. Earl Matthews (former Air Force Chief Information Security Officer) who serves as Cybersecurity Venture Partner, plus Military and Medical Advisory Boards featuring retired senior officers and experts who provide diligence and mentorship.

This deep bench of veteran leaders is considered SLG's "most valuable resource" and directly aligns with their mission-focused investment thesis.

Making Their Mark in Media

Despite being a boutique firm, SLG has developed a notable media presence, consistently highlighting their defense and veteran-centric mission.

Press Coverage The Tampa Bay Business Journal has been a regular chronicler of SLG's story, from profiling Drake's market predictions (he called the IPO comeback in March 2024) to covering their headquarters move from Connecticut to Tampa in 2021. The relocation story highlighted how their investment in Florida-based Equitus Corp influenced the strategic decision.

Industry Speaking Circuit SLG's leadership is active on the conference circuit. Drake appeared on CyberDefense TV for live interviews at RSA Conference and Infosec NYC, discussing cybersecurity investments. In 2025, both Drake and Lt. Gen. Bash were speakers at the eMerge Americas technology conference, sharing insights on dual-use innovation.

They also participate in veteran-focused events, with Drake joining other VCs at the Military Veteran Startup Conference to mentor veteran entrepreneurs.

Thought Leadership The U.S. Defense Department's National Security Innovation Network featured SLG in an in-depth Investor Spotlight Q&A in January 2024. Drake discussed their dual-use investment philosophy and the importance of moving at the "speed of innovation, not the speed of government."

Forbes has featured articles like "Don't Just Thank A Veteran, Invest In One," with SLG cited as an early pioneer in funding veteran-led ventures. Inc. Magazine named three SLG entrepreneurs among the "Top 20 Military Veteran Tech Entrepreneurs" in 2016.

Recognition SLG was honored as a "Hot Company" in Cyber Defense Magazine's 2020 awards, with Drake and Maj. Gen. Matthews accepting the award at RSA Conference, cementing their reputation in cybersecurity investing circles.

Portfolio Success Stories

With over 70 companies in their portfolio, SLG has built an impressive track record of backing companies that deliver both returns and mission impact.

ID.me – The Flagship Success ID.me represents SLG's most notable success story. This digital identity verification platform, co-founded by an Army veteran, grew from a startup into a unicorn valued at about $1.8 billion by 2024. SLG was an early investor when ID.me was scaling its secure digital identity platform.

With SLG's support and network, ID.me expanded to over 50 million users and secured major government contracts with the VA and state governments. The company raised $132 million in Series D capital in 2023, arranged a secondary share sale at multibillion valuation in 2024, and raised an additional $340 million in 2025 to combat fraud and expand services.

SLG's connections in federal and defense circles likely opened crucial doors for ID.me in securing government contracts, demonstrating how their network directly contributed to portfolio success.

NeuroFlow – Solving Veteran Healthcare NeuroFlow, a behavioral health tech platform focused on veterans and service members, exemplifies SLG's mission-driven approach. Co-founded by Chris Molaro, a veteran focused on tackling PTSD and suicide prevention, the company secured strategic partnerships with the U.S. Air Force and VA healthcare system.

NeuroFlow raised approximately $25 million in growth capital by 2022, acquired the Behavioral Health Lab platform to expand across VA facilities in 2023, and was recognized as one of the "Most Promising Healthcare AI Startups" in 2024. SLG's advisory network helped NeuroFlow navigate procurement in the defense/VA space.

Equitus Corporation – The Florida Connection This Clearwater, FL-based defense-oriented data fusion and AI company was significant enough to influence SLG's headquarters relocation to Florida in 2021. Lt. Gen. Bash joined Equitus's board, and SLG's connections brought the startup into important defense innovation forums.

According to Equitus's CEO, having SLG as a venture partner with deep understanding of military requirements "had a very meaningful impact as we scale Equitus for the future."

Other Notable Outcomes

VeriTX: SLG acted as lead investor in this digital supply chain/3D printing startup's $4.5 million venture round in 2022, co-leading with Veteran Ventures Capital.

Falkonry: This AI company for industrial analytics was acquired by IFS in 2023, marking a successful exit for investors.

Genesis Systems: This Tampa clean water tech startup won Pepperdine's 2022 Most Fundable Company competition and received a U.S. Army award for its water-from-air technology.

Warrior Centric Health: Formed strategic partnerships with KPMG and Kaiser Permanente, with the co-founder earning EY's Entrepreneur of the Year award in 2018.

Redactable: Secured a $1.25 million U.S. Air Force contract in 2023 after SLG helped lead a $5.5 million seed round.

Aceso Plasma: SLG led the Series A financing in mid-2025 for this biotech solution focused on first responders.

The SLG Difference

What makes SLG unique goes beyond their veteran focus – it's their hands-on "A-Team" approach to supporting companies.

Mission-Driven Network Over 80% of SLG's investments back veteran or military spouse entrepreneurs, and the portfolio has collectively created over 1,000 jobs for veterans and their families. This isn't just about patriotism – it's about recognizing that military training produces leaders who can handle the chaos and uncertainty of building companies.

Active Support Model SLG frequently takes board seats and provides intensive mentorship. Their network of 100+ LPs and extensive advisory boards provide startups with access to expertise across cybersecurity, healthcare, aerospace, and government procurement.

Dual-Use Focus By focusing on companies that serve both commercial and defense markets, SLG helps startups reduce risk while maximizing impact. Their portfolio companies don't just succeed financially – they tackle important problems that strengthen national security.

Government Relations SLG's team includes former senior officials who understand how to navigate government procurement processes, helping portfolio companies win contracts and partnerships that might otherwise take years to develop.

Looking Forward

Stony Lonesome Group has built something unique in the venture world – a firm that successfully combines mission-driven investing with strong financial returns. Their track record includes multiple exits, a unicorn success story, and a portfolio that's collectively creating significant impact in national security and veteran welfare.

With Fund IV targeting $150 million and plans for an even larger Fund V, SLG is scaling their model while maintaining their focus on dual-use technologies and veteran leadership. Their evolution from a $1 million debut fund to a major player in defense tech investing shows that sometimes the most effective approach is to find a meaningful niche and execute it exceptionally well.

As they continue growing, SLG remains committed to their founding principle: supporting ventures that align profit with purpose, particularly those that make America stronger and more secure while creating opportunities for the veteran community. In a venture world often criticized for chasing quick returns over lasting impact, Stony Lonesome Group stands as an example of how mission-driven investing can deliver both financial success and meaningful change.