Founder and CEO Payam Banazadeh will continue as a director on the board
[San Francisco, CA] Oct. 17, 2023 – Capella Space Corp., an American space technology company with data and satellite solutions for government and commercial applications and a pioneer in the earth observation industry, announced today that Frank Backes has been appointed to chief executive officer (CEO). Backes will assume his new role on October 23 and Banazadeh will continue serving the company in his role as Board Director.
Banazadeh founded the company in 2016 while at Stanford University. During his tenure as CEO, Capella Space raised over $250M in venture capital, made history by becoming the first American commercial Synthetic-Aperture Radar (SAR) operator, launched 12 high resolution SAR satellites, and grew its revenue more than 180% (CAGR) since the company began commercial operations in 2021.
“In just seven years, Capella grew from an idea to becoming a trusted provider of SAR imagery. The next phase is about harvesting the power of our capability across the many markets that have shown significant demand for our products,” Banazadeh said. “Frank is a proven leader with a diverse background in software and hardware across both national security and commercial markets. He understands our customers’ problems and challenges and is the perfect leader to further accelerate our growth by unlocking new opportunities.”
Backes joins Capella Space from Kratos Defense and Security Solutions, Inc., where he served as the senior vice president for federal space and commercial cyber operations for the past six years. Backes brings to Capella Space a deep understanding of the government and defense markets and has proven experience in growing public sector, commercial, and international business.
“I am honored to join Capella Space as CEO and have the opportunity to work each day with a powerhouse team to deliver technology that is truly unparalleled,” Backes said. “Under Payam’s thoughtful, strategic guidance, Capella Space has become the market leader. I am grateful for his leadership and look forward to working with him and the entire Capella Space team to take the company to new heights.”
Backes currently serves as president and chairman of the board of Space ISAC, an organization focused on aligning the global space industrial base to enhance its ability to prepare for and respond to emerging threats. He also is a member of the board of Modern Technology Solutions, Inc., an engineering services and technology solutions company focused on the public sector and defense markets.
About Capella Space
Capella Space is an American space tech company with data and satellite solutions for government and commercial use. A pioneer in the Earth observation industry, Capella is the first U.S. company with a constellation of Synthetic Aperture Radar (SAR) satellites, delivering the highest quality and resolution SAR imagery available today. Capella provides easy access to frequent and timely information affecting dozens of industries worldwide, including defense and intelligence, supply chain, insurance, maritime and others. Its market-leading SAR satellites are matched with unparalleled data infrastructure to quickly deliver reliable global insights to sharpen our understanding of the changing world – improving decisions about commerce, conservation, and security on Earth. Headquartered in San Francisco, California with additional locations in Denver, Colorado and Washington, D.C., Capella’s satellites are operated, designed, and manufactured in the USA. Learn more at www.capellaspace.com.
SOURCE Capella Space