[Software] Why This Software Engineering Company Is Making A Big Bet On Space

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Last month, billionaires Jeff Bezos and Richard Branson captured the world's gaze by each flying to space on spacecraft they'd funded themselves. Both of these historic launches have helped bring to reality the space tourism industry, with hundreds of tickets buyers expected to make their own journeys in the coming years.

 

But while billionaires may capture public attention, the real story of the past decade of the space industry lies not in astronauts but in satellites—and the data they're capable of providing to a wide swathe of industries. In 2020, remote sensing satellite owners and manufacturers pulled in nearly $4 billion in revenue, according to a report from Bryce Tech. These satellites constitute about 17% of the total number of satellites in orbit (communications makes up the bulk), and several of the startups that provide this technology have announced plans to go public this year.

 

“What was previously a very high barrier of entry ecosystem has shifted tremendously over the last couple of years,” says Brady Brim-DeForest. “The cost of launch on a per-pound basis has decreased tremendously and the miniaturization of satellites, of cubesats and microsats, the capabilities they offer now compared to even three or four years ago is mind-blowing.”

 

Brim-DeForest, 37, sees an opportunity in that lowered barrier of entry. That's why his Los Angeles-based software company, Theorem LLC, announced Tuesday that it's launching a new business unit, Theorem Orbital, geared toward providing custom software solutions for its customers that make use of the new data on offer to improve their businesses and cut costs.

 

“We see space as a major driver of disruption,” Brim-DeForest says. “But in order for our clients to compete, they need help navigating it.”