Siren Marine Closes $1.5 Mln in Seed Funding

Siren Marine announced today that it has closed its $1.5 million seed round, and has also launched a series A round to further fuel company expansion and product development. Siren Marine is extending its product line to include wireless sensor technology, video and image capture, satellite connectivity, an NMEA interface, fleet management software, and easy-to-use mobile and desktop apps. These advancements will accelerate the adoption of the company’s second-generation “Internet of Things” connected boat technology. In addition, the organization has added experienced Fortune 500 CEO and Nautic Global Group chairman James R. Malone to its board of directors to provide strategic direction and play an instrumental role in Siren Marine’s mission to provide OEMs and boat builders with next-generation connectivity solutions.

 

“Siren Marine is perfectly positioned to address the problems faced by boaters today and anticipates continued strong demand for its products and services,” said Daniel Harper, founder and CEO, Siren Marine. “With the addition of Jim to our board of directors, and the recent acquisition of substantial seed funding, we are poised to launch Siren Marine into a period of rapid and substantial growth.”

 

Malone has been CEO of five Fortune 500 companies; managed or participated in over 65 acquisitions and divestitures; and created international and domestic joint ventures and strategic alliances. As Nautic Global Group chairman and CEO, Malone spearheaded the successful turnaround and sale of Nautic to Bennington Marine. Malone has a wealth of marine industry experience and continues to serve as the chairman of Nautic Global Group. Malone is also the founder and senior managing partner of QORVAL, an international business advisory firm.

 

“I understand both the value and the necessity for Siren Marine’s products,” said Malone. “Joining the company’s board of directors is more than a business venture with a firm that has a bright future ahead; this is about being a part of a team that provides boaters, like me, the tangible benefits of a positive and worry-free ownership experience.”