ThayerMahan Secures $30 Million Series C Funding Round

ThayerMahan, a provider of autonomous maritime surveillance solutions, announced that it recently closed a $30 million Series C round of funding. Led by the MC² Security Fund, the round also included investments from I Squared Capital, Ducenta Squared Asset Management and Compass Partners. ThayerMahan provides government and commercial clients with turn-key autonomous marine solutions, including deployment, operations, data gathering and analysis services.

The company has focused on improving the United States' ability to effectively and efficiently monitor ocean activity using autonomous systems to protect and defend people, territories, assets and allies. ThayerMahan has a deep bench of collective acoustics expertise, including over 75 employees with security clearances. The government has issued ThayerMahan eight patents and seven more are pending.

"ThayerMahan has demonstrated strong capabilities for both naval defense and commercial offshore energy use cases. This 'dual use' market approach provides strong diversification of revenue streams and helps to mitigate risk," said Chad Sweet, MC² partner. "This investment round will accelerate ThayerMahan's growth and further advance its high performing AI-and autonomy-related technology which is proving to be critical to the success of both the commercial and federal maritime missions."

Chairman and Chief Executive Officer Mike Connor noted that this new round of funding will enable the company to quickly spur its development and deployment of unique technology.

Anna Davis

Staff Writer

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