Sierra Space
Sierra Space is a commercial space company developing the Dream Chaser spaceplane, Orbital Reef commercial space station, and related space technologies.
- Founded
- 2021
- Headquarters
- Louisville, United States
- Stage
- Growth
- Ownership
- Subsidiary of Sierra Nevada Corporation
- Total raised
- $2.25B
- Last valuation
- $8B
- Employees
- 2,000as of 2024
- Last round
- Series C · $550M2026-03
- Investors
- 4
Quick Facts
About Sierra Space
Sierra Space is a commercial space company developing the Dream Chaser spaceplane, Orbital Reef commercial space station, and related space technologies. Spun off from Sierra Nevada Corporation in 2021, Sierra Space is based in Louisville, Colorado, and aims to build commercial infrastructure in low Earth orbit to support NASA, commercial, and international customers.
Sierra Space operates as a privately held company backed by strategic investors including General Atlantic, Coatue, and Moore Strategic Ventures. The company employs approximately 1,500 people and is led by CEO Tom Vice. Sierra Space positions itself as a leader in the commercialization of low Earth orbit.
History and Milestones
Sierra Nevada Corporation's Space Systems group developed the Dream Chaser vehicle beginning in 2004, based on NASA's HL-20 lifting body design. The spacecraft competed for NASA's Commercial Crew Program but was not selected. Sierra Nevada pivoted to cargo delivery, winning a Commercial Resupply Services-2 contract in 2016.
Sierra Space was established as a separate company in 2021 to focus on commercial space opportunities beyond government contracts. The spinoff attracted significant private investment, valuing the company at over $4.5 billion.
In 2021, Sierra Space partnered with Blue Origin to propose Orbital Reef, a commercial space station selected by NASA's Commercial LEO Destinations program. This partnership positions Sierra Space as a potential successor to the International Space Station.
Products and Services
Dream Chaser is a reusable lifting-body spaceplane designed to deliver cargo to the International Space Station and future destinations. The vehicle launches atop a ULA Vulcan Centaur or Atlas V rocket and returns to Earth with a runway landing, enabling rapid payload recovery. Dream Chaser carries both pressurized and unpressurized cargo.
The LIFE (Large Integrated Flexible Environment) habitat is Sierra Space's expandable space station module technology. LIFE modules launch compactly and inflate to provide large pressurized volume. This technology is central to Orbital Reef and could support lunar surface habitats.
Sierra Space is developing Shooting Star, a cargo module that accompanies Dream Chaser, providing additional volume for supplies and waste disposal. The company also works on space station systems, life support, and related technologies.
Technology and Capabilities
Dream Chaser's lifting body design provides cross-range capability during reentry, enabling landing at multiple locations. The spacecraft is designed for gentle returns (1.5 g maximum), suitable for sensitive cargo including biological experiments. Dream Chaser can land on commercial runways at non-federal spaceports.
LIFE habitat technology uses advanced materials to create expandable structures that provide more volume per launch than traditional rigid modules. Sierra Space has conducted full-scale burst tests demonstrating the technology's structural integrity and safety margins.
The company develops life support, thermal control, and power systems for space habitats. Sierra Space also works on in-space manufacturing technologies, including plans for industrial facilities aboard Orbital Reef.
Business and Financial Overview
Sierra Space raised approximately $1.4 billion in private funding, including a 2021 Series A at a $4.5 billion valuation. The company generates revenue from NASA contracts, including the Commercial Resupply Services agreement for Dream Chaser cargo flights.
Major contracts include NASA CRS-2 (at least six Dream Chaser cargo missions), Commercial LEO Destinations funding for Orbital Reef, and various technology development awards. The company seeks additional commercial and international customers for Dream Chaser and space station services.
Sierra Space competes for astronaut and cargo transportation services while developing commercial space station offerings. The company's path to profitability depends on successful Dream Chaser operations and Orbital Reef development.
Recent Developments
In 2024, Sierra Space prepared for the first Dream Chaser mission, completing spacecraft integration and testing. The inaugural flight to the International Space Station was targeted for launch on ULA's Vulcan Centaur rocket.
The company advanced Orbital Reef development, conducting system design reviews and component testing. Sierra Space also expanded its LIFE habitat program, completing additional structural tests and advancing manufacturing capabilities.
Sierra Space strengthened international partnerships and explored additional commercial applications for its technologies. The company also invested in workforce development and facilities expansion to support upcoming operations.
Market Position
Sierra Space positions itself as a commercial space infrastructure provider, distinct from launch companies like SpaceX or satellite operators. The Dream Chaser and Orbital Reef represent comprehensive solutions for low Earth orbit commercialization.
Key competitors include SpaceX (for cargo services and potentially stations), Axiom Space (for commercial space stations), and other companies developing LEO infrastructure. Sierra Space's reusable spaceplane technology offers unique capabilities for cargo return.
Competitive advantages include the Dream Chaser's gentle return capability, expandable habitat technology, and diverse technology portfolio. Strategic partnerships with Blue Origin for Orbital Reef and ULA for launch services strengthen the company's position.
Products and product lines
| Product | Line | Note |
|---|---|---|
| Dream Chaser (Tenacity) | Spaceplane / cargo vehicle | Reusable lifting-body spaceplane flying under NASA's Commercial Resupply Services-2 contract; completed launch acoustic testing at Kennedy Space Center in April 2026 and secured undisclosed national-security and commercial payload contracts for its inaugural flight in September 2026. |
| LIFE habitat | Expandable space station module | Inflatable habitat technology intended for Orbital Reef and other destinations; completed a full-scale burst test exceeding required safety margins by 27% in January 2024. |
| Orbital Reef | Commercial space station (with Blue Origin) | Station concept developed jointly with Blue Origin under a NASA Commercial LEO Destinations Phase 1 award of up to $130 million (October 2021); NASA had disbursed about $24 million of that award as of October 2023. |
| PWSA Tracking Layer satellites | Missile-tracking satellites | Sierra Space was awarded a $798 million Space Development Agency contract in July 2026 to build 18 additional missile-tracking satellites for the Proliferated Warfighter Space Architecture, supporting the 'Golden Dome' missile-defense architecture. |
| Vortex upper-stage engine | Rocket propulsion (in development) | Upper-stage engine under development with a $22.6 million U.S. Air Force contract awarded in 2023. |
Timeline
- 2024 Sierra Space's LIFE habitat completes a full-scale burst test on 22 January, exceeding required safety margins by 27%. [source]
- 2024 Tom Vice, Sierra Space's CEO since the company's 2021 spinoff and a former Northrop Grumman executive, retires from the role. [source]
- 2026 Sierra Space names Dan Jablonsky, former CEO of Ursa Major Technologies and Maxar Technologies, as CEO effective 2 March 2026, with founder Fatih Ozmen moving from interim CEO to board chair. [source]
- 2026 Sierra Space closes a $550 million Series C round led by LuminArx Capital Management at an $8 billion valuation, earmarked for national-security space work, as it targets a late-2026 Dream Chaser demonstration flight. [source]
- 2026 Dream Chaser Tenacity completes launch acoustic testing at NASA's Kennedy Space Center on 14 April, simulating rocket-launch vibration with 90 stacked speakers, before shipping to Colorado for final modifications. [source]
- 2026 Sierra Space is awarded a $798 million Space Development Agency contract on 13 July to build 18 more PWSA Tracking Layer missile-tracking satellites supporting the Golden Dome missile-defense effort. [source]
- 2026 Sierra Space announces on 2 September that it has secured contracts with undisclosed national-security and commercial customers to fly payloads aboard Dream Chaser's inaugural CRS-2 mission, which will launch from Kennedy Space Center and land at Vandenberg Space Force Base. [source]
Dan Jablonsky (CEO, since March 2026)
Funding history
7 events · $2.25B raised| Date | Round | Amount | Investors | Source |
|---|---|---|---|---|
| 2026-03-01 | Series C | $550M | LuminArx Capital ManagementSeries C round led by LuminArx Capital Management at $8B valuation; total capital since 2021 exceeds $2B | sierraspace.com |
| 2023-10-12 | Series B | $290M | General AtlanticCoatueMoore StrategicSeries B funding for Dream Chaser spaceplane | sierraspace.com |
| 2022-01-28 | Undisclosed round | $8.9M | —Form D filed 2022-02-14 by Sierra Space Corp: $8.9M sold of an open-ended offering (first sale 2022-01-28). | sec.gov |
| 2022-01-28 | Undisclosed round | $24.4M | —Form D amendment filed 2022-07-15 by Sierra Space Corp: $24.4M sold of an open-ended offering (first sale 2022-01-28). | sec.gov |
| 2022-01-28 | Undisclosed round | $26.0M | —Form D amendment filed 2022-10-06 by Sierra Space Corp: $26.0M sold of an open-ended offering (first sale 2022-01-28). | sec.gov |
| 2022-01-28 | Undisclosed round | $9.0M | —Form D amendment filed 2022-02-23 by Sierra Space Corp: $9.0M sold of an open-ended offering (first sale 2022-01-28). | sec.gov |
| 2022-01-28 | Undisclosed round | $19.1M | —Form D amendment filed 2022-03-04 by Sierra Space Corp: $19.1M sold of an open-ended offering (first sale 2022-01-28). | sec.gov |
Investors
From the sourced rounds above. Investors with two or more deals in the directory link to a portfolio page.
Team
Signals
- Verification
- Verified 2026-09-09
Categories & Capabilities
Industry Categories
Vehicle Types
Funding
Location
Loading map...
Share
Suggest an Edit
Is this information outdated or incorrect? Help us improve this profile.
Submit CorrectionExplore More
Discover 1,000+ space companies worldwide
Similar Companies
Other companies in space-stations
Vast
Vast is an American commercial space station company founded in 2021 by billionaire Jed McCaleb (co-founder of Ripple an...
Above Space Development
Founded in 2021 and based in Houston, Texas, Above Space Development is a commercial space technology company focused on...
Lockheed Martin Habitation
Lockheed Martin Habitation, established in 2018 and based in Denver, Colorado, focuses on the development of space habit...
RSC Energia
Rocket and Space Corporation Energia, founded in 1946 and based in Korolev, Russia, is a leading entity in the design an...
Northrop Grumman HALO
Northrop Grumman HALO, established in 2019 and based in Dulles, Virginia, is a business unit of Northrop Grumman focused...
Thales Alenia Space Gateway
Thales Alenia Space Gateway, founded in 2019 and based in Turin, Italy, is a business unit of Thales Alenia Space focuse...
Also in United States
Other space companies based in United States
Related Articles
Industry analysis mentioning Sierra Space
Blue Origin: New Glenn, New Shepard and the Road Ahead
Read article →
Commercial Space Stations: The Next Frontier After ISS
Read article →
Investing in Space: Public Companies, ETFs, and Market Analysis
Read article →
NASA Artemis Program: Missions, SLS, Orion, Gateway and Timeline
Read article →
NASA Commercial Crew: How SpaceX and Boeing Ended the Launch Gap
Read article →
Space Stations Compared: ISS, Tiangong, and the Commercial Stations Coming Next
Read article →
Frequently asked about Sierra Space
Quick answers to the questions readers most often search for.
- When was Sierra Space founded?
- Sierra Space was founded in 2021 in United States.
- Where is Sierra Space headquartered?
- Sierra Space is headquartered in Louisville, United States.
- What does Sierra Space do?
- Sierra Space is a commercial space company developing the Dream Chaser spaceplane, Orbital Reef commercial space station, and related space technologies. Spun off from Sierra Nevada Corporation in 2021, Sierra Space is based in Louisville, Colorado, and aims to build commercial infrastructure in low Earth orbit to supp…
- Is Sierra Space a public or private company?
- Sierra Space is a privately held company and is not listed on any stock exchange.
- What sector does Sierra Space operate in?
- Sierra Space works in space stations, Spacecraft and Human spaceflight, plus 2 other space-industry sectors.
Sources
The structured fields on this page (founding year, location, sector, status, listing) and the profile text are drawn from the sources below. How profiles are drafted and checked is described in our methodology.
- Official website (sierraspace.com)
- Company LinkedIn page
- SEC Form D · retrieved 2026-09-04
- SEC Form D · retrieved 2026-09-04
- SEC Form D · retrieved 2026-09-04
- SEC Form D · retrieved 2026-09-04
- SEC Form D · retrieved 2026-09-04
- Wikidata / Wikipedia · retrieved 2026-09-04
- Merged duplicate entry snc-space · retrieved 2026-09-05
- Wikipedia: Orbital Reef · retrieved 2026-09-09
- SpaceNews: Sierra Space names Dan Jablonsky CEO · retrieved 2026-09-09
- SpaceNews: Sierra Space raises $550 million in Series C funding · retrieved 2026-09-09
- Sierra Space: LIFE habitat full-scale burst test (press release) · retrieved 2026-09-09
- Sierra Space: Dream Chaser completes Kennedy Space Center milestone (14 Apr 2026) · retrieved 2026-09-09
- Sierra Space: $798 million missile defense contract for Golden Dome (13 Jul 2026) · retrieved 2026-09-09
- Sierra Space: National security and commercial payload contracts for Dream Chaser inaugural flight (2 Sep 2026) · retrieved 2026-09-09
- Funding: Series C round led by LuminArx Capital Management at $8B valuation; total capita (2026-03-01) · retrieved 2026-09-04
- Funding: Series B funding for Dream Chaser spaceplane (2023-10-12) · retrieved 2026-09-04
Data Accuracy Notice: Information about Sierra Space is compiled from publicly available sources including company websites, press releases, regulatory filings, and industry reports. Data is reviewed periodically but may not reflect the most recent developments.