ThayerMahan – a leader in autonomous maritime surveillance solutions – recently announced it closed a $20 million follow-on Series C funding led by Hanwha Asset Management. And existing investors, including MC2 Security Fund, AE Industrial Partners, I Squared Capital, and Yellow Sub Funding participated pro rata in the round. The investment follows a $30 million Series C investment led by MC2 Security Fund in April 2023.
Launched in 2016, ThayerMahan offers maritime domain data solutions and related services for government and industry customers. And the company utilizes its expertise in underwater acoustics, artificial intelligence, remotely piloted systems, and maritime autonomy to deliver value to customers.
ThayerMahan’s products and services detect marine mammals, mitigate offshore construction noise, and deliver a range of undersea detection and security services.
KEY QUOTES:
“We are impressed by the ThayerMahan team’s vision, capabilities, and record of execution in commercial offshore energy services and maritime surveillance. The company is building and scaling valuable solutions for both markets and we are excited to partner with them to invest further in them to deepen their capabilities and expand into new, important geographic markets.”
— A Hanwha Asset Management spokesperson
“I am very excited by our new partnership with Hanwha Asset Management, a global leader in alternative energy and maritime services. We have a shared vision for how emerging acoustic and AI technologies can advance maritime commerce and the global Blue Economy. Hanwha’s industry expertise, market presence, and ambitious management team make the organization a great partner for ThayerMahan as it continues to develop its capabilities and expand operations to Asia. I want to thank our existing investors who participated in the round to maintain their pro rata ownership. Their continued partnership is critical to our success, and we look forward to creating more value together in the coming years.”
— Mike Connor, ThayerMahan Chairman and CEO
