Groton, Connecticut, April 13, 2023 — Leading autonomous marine surveillance technology provider ThayerMahan concluded a USD 30 million Series C investment, with the MC2 Security Fund as the primary investor (MC2). In addition to AE Industrial Partners, Hegemon Capital, and a subsidiary of RiverPark Ventures, other prominent new investors in the round include I Squared Capital, Ducenta Squared Asset Management, and Compass Partners (who also acted as financial advisers to the Company).
“ThayerMahan has proven to have great capabilities for both commercial offshore energy use cases and naval defensive use cases. This “dual use” market strategy offers substantial income stream diversity and reduces risk, “added Chad Sweet, a partner at MC2 who was recently elected to the board of the business. This round of funding will let ThayerMahan expand more quickly and enhance its high-performing AI and autonomy-related technology, which is essential to the accomplishment of both commercial and government maritime operations.
ThayerMahan, a 2016 startup, offers maritime domain data solutions to various industries, including acoustics, subsea infrastructure, offshore energy, live marine resources, maritime security, and defense and intelligence. The Company uses multiple unmanned autonomous sea-based technologies that it deploys and manages to provide data insights to its clients. Its in-house AI technology stack gathers and curates data sets, analyses them, and quickens the pace at which data understanding occurs. More than 75 of ThayerMahan’s personnel have security clearances, adding to the Company’s broad base of acoustical knowledge. ThayerMahan has received eight patents from the government, and seven more are pending.
Chief Executive Officer and Chairman of ThayerMahan Mike Connor stated, “We have prioritized developing the capacity of the United States to monitor maritime activities effectively and efficiently utilizing autonomous systems to safeguard and defend our citizens, territory, resources, and allies. We have assembled a committed group of mission-driven experts.”
“This round allows us to accelerate the creation and use of novel technology, which is in high demand from both our government and commercial clients. We anticipate accelerating our growth with the knowledge and connections provided by MC2 and our new investors in this round, “said Connor. “Furthermore, I want to thank Hegemon Capital and a subsidiary of RiverPark Ventures, who served as the rounds’ lead investors and shared our vision for this technology that would change the game. With this large additional cash infusion, we look forward to generating even greater value for our investors.”
We try our best to fact-check and bring the best, well-researched, and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!
Next Article
. In addition to AE Industrial Partners, Hegemon Capital, and a subsidiary of RiverPark Ventures, other prominent new investors in the round include I Squared Capital, Ducenta Squared Asset Management, and Compass Partners (who also acted as financial advisers to the Company).){kind=link}