How Much Did ThayerMahan Raise? Funding & Key Investors

Date August 22, 2025
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ThayerMahan

COMPANY INFO

ThayerMahan, Inc. is a maritime transportation company founded in 2016 by Dr. John Kao, Mike Connor, and Richard Jude Hine. Headquartered in Groton, Connecticut, with approximately 137 employees, the company designs, manufactures, and operates systems to collect acoustic and electronic information on the world's oceans, providing advanced maritime surveillance and security solutions to protect maritime food supplies, trade routes, industrial infrastructure, and borders. Their official website is https://www.thayermahan.com.

How Much Did ThayerMahan, Inc. Raise? Funding & Rounds and Investors

ThayerMahan, Inc. is a maritime transportation company founded in 2016 by Dr. John Kao, Mike Connor, and Richard Jude Hine. Based in Groton, Connecticut, ThayerMahan designs, manufactures, and operates systems to collect acoustic and electronic information on the world's oceans. With approximately 75 employees, the company delivers advanced maritime surveillance and security solutions that protect maritime food supplies, trade routes, industrial infrastructure, and borders.

ThayerMahan, Inc. funding history demonstrates a robust venture capital and investment strategy, having raised a total of $80 million across nine funding rounds. The company started with early-stage funding for product development, progressed through several growth and technology-driven rounds, and secured significant backing from both venture capital firms and private investors. Key funding milestones include large Series C rounds aimed at accelerating growth and technology advancement, as well as strategic debt financing to sustain operations. The combination of equity and debt rounds highlights a balanced funding approach designed to scale their innovations in maritime domain awareness for both commercial and government sectors.

Funding Rounds

Series C3 - $20M - 2024-01-09

This later stage VC round provided ThayerMahan, Inc. with capital to sustain its growth trajectory and drive continued revenue generation in the maritime surveillance and security space.

Series C - $30M - 2023-04-13

In this pivotal later stage round, ThayerMahan, Inc. secured funds to accelerate overall growth and focus on advancing its AI and autonomy-based technologies for both commercial and federal maritime missions.

Series B - $2.5M - 2018-09-24

This early stage VC round was intended to support ThayerMahan, Inc.'s market expansion efforts and overall organizational growth.

Series A - $2.75M - 2017-04-03

The Series A funding was used primarily for initial product development and the launch of ThayerMahan, Inc.'s maritime intelligence solutions.

Debt - General - Undisclosed - 2021-01-15

Debt financing round supporting the company’s ongoing operational needs.

Debt - PPP - Undisclosed - 2020-04-14

A Paycheck Protection Program loan aimed at supporting ThayerMahan, Inc. during the COVID-19 pandemic.

Debt - General - Undisclosed - 2020-02-28

Debt financing round to provide capital for routine company operations.

Debt - General - Undisclosed - 2019-06-06

Debt financing to help sustain company operations and financial flexibility.

Key Investors

Hanwha

Hanwha is an international conglomerate with significant interests in defense and industrial technology. As a ThayerMahan, Inc. investor, Hanwha supports advancements in maritime surveillance and security infrastructure.

Yellow Sub Geo

Yellow Sub Geo invests in innovative geospatial and marine technology ventures. Their investment in ThayerMahan, Inc. reflects confidence in advanced ocean surveillance technologies.

AE Industrial Partners

AE Industrial Partners is a private equity firm specializing in aerospace, defense, and government services. Their support of ThayerMahan, Inc. venture capital rounds provides access to critical industry expertise and connections.

Compass Partners Capital

Compass Partners Capital is a strategic investment group committed to supporting technology-driven companies in the defense and maritime sectors, helping ThayerMahan, Inc. in its mission to safeguard marine resources.

Ducenta Squared

Ducenta Squared invests across technology and industrial sectors. Their role in ThayerMahan, Inc. funding rounds is to fuel the company’s technological innovations and expansion.

MC2 Security Fund

MC2 Security Fund led ThayerMahan, Inc.'s Series C funding, backing the company’s move to strengthen its position in AI-driven maritime security and surveillance.

I Squared Capital

I Squared Capital is a global infrastructure investor, contributing to ThayerMahan, Inc.'s efforts in operational and strategic growth.

RiverPark Ventures

RiverPark Ventures was the lead investor in ThayerMahan, Inc.’s Series A round, providing initial venture capital that enabled early-stage product development.

Hegemon Capital

Hegemon Capital led the Series B round, supporting ThayerMahan, Inc. as the company began to scale its business and expand into new markets.

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