Liquid Robotics®, a leading provider of autonomous ocean robots and high value ocean data services, today announced that it has closed a $45 million Series E funding round led by Riverwood Capital, a growth-focused technology private equity firm, with participation from existing investors, including VantagePoint Capital Partners.
The funding will be used to expand the Company's global sales, partner, and services organizations to meet the increasing demand for its ocean observation & monitoring services. This investment will also fund development and delivery of new cost effective solutions for the worldwide Defense, Science & Research, and Oil & Gas markets.
"Liquid Robotics is driving a major shift in ocean observation and surveillance," said Bill Vass, CEO of Liquid Robotics. "We are doing this through the delivery of high value ocean data services and products providing significant cost savings and reduced operational risk to clients around the globe. With the additional investment and introduction of Riverwood Capital to our team, we are now well positioned to scale and accelerate our sales and service offerings to deliver even greater competitive advantage for our customers, partners and shareholders."
"Riverwood is excited to join the Liquid Robotics team," said Michael Marks, a founding partner of Riverwood Capital. "We look forward to contributing our operational, strategic, and technical expertise to the Company's unique and disruptive approach to this high growth market."
"We are very pleased to continue our support of Liquid Robotics and its mission of revolutionizing the way ocean data is collected and distributed," said Alan Salzman, CEO and Managing Partner of VantagePoint Capital Partners. "The company has demonstrated its innovation over and over again in challenging real-world situations, and delivered significant value to a growing stable of global customers and important partners."