ThayerMahan Raises $20M in Additional Series C Funding

USA – ThayerMahan, a Groton, CT-based company which specilaizes in autonomous maritime surveillance solutions, closed $20M in follow-on Series C funding

The round was led by Hanwha Asset Management. Existing investors, including MC2 Security Fund, AE Industrial Partners, I Squared Capital, and Yellow Sub Funding also participated pro rata in the round. The investment followed a $30M Series C investment led by MC2 Security Fund in April 2023.The company intends to use the funds to expand operations and its business reach.Led by CEO Mike Connor, ThayerMahan is a maritime technology company dedicated to providing its government and commercial clients with autonomous marine solutions, including deployment, operations, data gathering and analysis services, using acoustic and electronic sensors integrated on a variety of host platforms tailored to specific mission criteria. The company leverages its expertise in underwater acoustics, artificial intelligence, remotely piloted systems, and maritime autonomy to deliver value to customers.ThayerMahan is headquartered in Groton, CT with additional locations in Lexington and New Bedford, MA, Norfolk, Virginia Beach, and Arlington, VA. 10/01/2024