By 2023, Ursa Major was no longer just an R&D innovator. The company had begun delivering dozens of advanced rocket engines to commercial and government clients, signaling a decisive shift to revenue-generating operations.
With the launch of a new solid rocket motor production line on the horizon, Ursa Major faced mounting pressure to secure capital, scale manufacturing, and meet surging demand from both the private space sector and defense programs.
How a Strategic CFO Hire Accelerated Ursa Major’s Growth Trajectory
Recognizing the need for disciplined financial leadership, Ursa Major’s board engaged Christian & Timbers to identify a CFO with deep expertise in high-tech manufacturing and finance. The search culminated in the appointment of James “Bill” Nash, whose track record included scaling organizations at Cruise (GM), Oracle, Theravance Biopharma, and UCB.
Nash’s arrival signaled a new era of fiscal discipline and strategic planning for Ursa Major.
Funding Milestones That Transformed Ursa Major’s Market Position
Ursa Major’s journey over the past year has been defined by a series of transformative milestones:
- January 2024: Secured $138 million in Series D and Series D-1 funding, fueling expansion of solid rocket motor production and next-generation R&D.
- 2023–2024: Delivered dozens of rocket engines to government and commercial customers, marking the transition to full-scale production.
- September 2024: Closed a $25 million joint investment with the U.S. Navy, including $12.5 million from the Department of Defense’s Office of Strategic Capital and $12.5 million from Ursa Major, to expand solid rocket motor manufacturing for defense programs.
These milestones have solidified Ursa Major’s position as a critical supplier in the aerospace sector and set the stage for accelerated growth.
Financial Discipline Drives Ursa Major’s Rapid Expansion
With Nash at the helm, Ursa Major instituted rigorous budgeting and enterprise-grade financial practices. This enabled the company to secure critical funding, expand manufacturing capacity, and align engineering innovation with sound fiscal management.
The strengthened balance sheet and operational discipline have positioned Ursa Major to meet rising demand and pursue new opportunities in both space launch and hypersonic defense.
Ursa Major’s Breakthrough: Delivering Engines at Scale and Shaping Aerospace Innovation
Ursa Major’s transformation from a prototype-focused startup to a commercially scaling manufacturer is now complete. The company’s ability to deliver dozens of engines in just 12 months, backed by $163 million in new funding, demonstrates the power of combining technical excellence with strategic financial leadership.
As demand for advanced propulsion systems continues to surge, Ursa Major is poised to shape the future of aerospace innovation.
Christian & Timbers brought 45+ years of technology executive search expertise, a science-based AI-powered search process for faster, more accurate placements, and direct senior leadership involvement in every search. These strengths ensured Ursa Major secured a CFO with the precise skills needed to drive financial discipline and operational scale during a critical growth phase.