ThayerMahan Raises $30 Million in Series C  

by Kay Aloha Villamor in April 14th, 2023

ThayerMahan, a Groton, Connecticut-based company that provides autonomous maritime surveillance solutions, closed $30 million in a Series C funding round led by the MC2 Security Fund (MC2).

Other notable new investors in the round include I Squared Capital, Ducenta Squared Asset Management, and Compass Partners (who also served as financial advisors to the company), along with additional participation by existing investors AE Industrial Partners, Hegemon Capital, and an affiliate of RiverPark Ventures.

This investment round will propel ThayerMahan's expansion and enable the company to continue advancing its cutting-edge AI and autonomy technologies.

ThayerMahan, Chairman and CEO, Mike Connor noted, "From the outset, we've focused on improving the United States' ability to effectively and efficiently monitor ocean activity using autonomous systems to protect and defend our people, territories, assets, and allies. We've attracted a passionate team of mission-driven professionals."

The company provides maritime domain data solutions serving industry sectors including maritime security, defense, and intelligence, subsea infrastructure, offshore energy, living marine resources, and acoustic sciences.

ThayerMahan delivers data insights to its customers by deploying and operating a portfolio of unmanned, autonomous sea-based systems. Its proprietary AI technology stack collects and curates data sets, analyzing and accelerating the speed of data comprehension.

Company: ThayerMahan, Inc.

Raised: $30.0M

Round: Series C

Funding Month: April 2023

Lead Investors: MC2 Security Fund

Additional Investors: I Squared Capital, Ducenta Squared Asset Management, Compass Partners, AE Industrial Partners, Hegemon Capital, and an affiliate of RiverPark Ventures

Company Website:

Software Category: Autonomous Marine Solutions

About the Company: Founded in 2016, ThayerMahan is a maritime technology company dedicated to providing its government and commercial clients with turn-key autonomous marine solutions, including deployment, operations, data gathering, and analysis services, using state-of-the-art acoustic and electronic sensors integrated on a variety of host platforms tailored to specific mission criteria. ThayerMahan has a deep bench of collective acoustics expertise, including over 75 employees with security clearances. The company is headquartered in Groton, CT, with additional locations in Lexington, MA; Boston; and Washington DC. 


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