Total amount raised
$189.5 Millions
Latest funding date
10/01/2021
Location
Saildrone has successfully raised significant funding over multiple rounds, with its latest being a Series C round on October 18, 2021. The company is backed by 17 investors, including Social Capital and Tribe Capital.
Keep reading to explore the intricacies of Saildrone's fundraising journey and the investors backing this innovative platform.
What Is Saildrone?
Saildrone, founded in 2012 by Richard Jenkins, is based in Alameda, California. The company specializes in designing and manufacturing wind and solar-powered autonomous surface vehicles known as Saildrones. These vehicles are used for ocean data collection, providing valuable insights for climate, mapping, and maritime security applications.
With a workforce of 101-250 employees, Saildrone has established itself as a leader in maritime defense and oceanographic survey solutions. Their technology enables real-time intelligence and insights, supporting both domestic and international customers in various challenging environments.
By leveraging advanced autonomous technology, Saildrone aims to explore and safeguard the world's oceans. Their proven track record and innovative solutions make them a key player in the fields of ocean research, defense, and security.
How Much Funding Has Saildrone Raised?
- Series A
- Amount Raised: $12M
- Date: February 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial scaling and development of their autonomous surface vehicles.
- Series A
- Amount Raised: $14M
- Date: September 2016
- Lead Investors: Social Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance their technology and expand their fleet of autonomous vehicles.
- Seed Round
- Amount Raised: $2.5M
- Date: December 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund early-stage development and initial market entry.
- Series B
- Amount Raised: $60M
- Date: May 2018
- Lead Investors: Horizons Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance data collection capabilities.
- Grant
- Amount Raised: $1M
- Date: April 2021
- Lead Investors: Google.org
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support specific research and development projects.
- Series C
- Amount Raised: $100M
- Date: October 2021
- Lead Investors: Bond
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale go-to-market functions and advance ocean intelligence products.
Total Amount Raised: $189.5M
Current Valuation: Not publicly disclosed
Key Investors
- Bond
- Details: Bond is a venture capital firm known for investing in high-growth technology companies. Noah Knauf, a general partner at Bond, joined Saildrone's Board of Directors as part of the Series C funding deal.
- Investment Focus Areas: Technology, innovation, high-growth potential companies.
- Notable Investments: Airbnb, DoorDash, Stripe.
- Google.org
- Details: Google.org is the charitable arm of Google, focusing on funding innovative solutions to global challenges. They provided a $1M grant to Saildrone in April 2021.
- Investment Focus Areas: Education, economic opportunity, inclusion, crisis response.
- Notable Investments: Khan Academy, GiveDirectly, Code for America.
- Horizons Ventures
- Details: Horizons Ventures is a private investment arm of the Li Ka Shing Foundation, focusing on disruptive and technology-driven companies. They led Saildrone's Series B round in May 2018.
- Investment Focus Areas: Technology, healthcare, artificial intelligence, telecommunications.
- Notable Investments: Facebook, Spotify, Zoom.
- Social Capital
- Details: Social Capital is a venture capital firm that aims to solve the world's hardest problems by investing in technology companies. They were a lead investor in Saildrone's Series A round in September 2016.
- Investment Focus Areas: Healthcare, education, financial services, technology.
- Notable Investments: Slack, Box, SurveyMonkey.
- Capricorn Investment Group
- Details: Capricorn Investment Group is an investment firm that focuses on sustainable and impact investments. They participated in Saildrone's Series C funding round.
- Investment Focus Areas: Sustainability, clean energy, technology.
- Notable Investments: Tesla, SpaceX, QuantumScape.
What's Next for Saildrone?
With the recent $100 million Series C funding, Saildrone is poised to capitalize on the growing demand for unmanned surface vehicles (USVs) in climate data collection, ocean mapping, and maritime security. The global USV market, projected to reach $1.3 billion by 2028, offers a significant growth opportunity for the company.
As Saildrone scales its go-to-market functions and enhances its data insight teams, future fundraising rounds seem likely. The involvement of high-profile investors and the expanding market suggest that additional funding could further accelerate their technological advancements and market reach.
However, challenges such as competition, technological hurdles, and regulatory issues may arise. Navigating these obstacles will be crucial for Saildrone as it continues to innovate and lead in the autonomous maritime vehicle sector.
Use Clay to Get Funding Data
Sales professionals, take advantage of Clay's platform to access comprehensive fundraising data on companies like Saildrone and gather other critical business insights.
Sign up for free and start leveraging these powerful tools today by visiting Clay's signup page.
