Vessel monitoring and tracking technology company Siren Marine has closed $1.5 million in seed funding, and has added former Nautic Global Group CEO James Malone to its board of directors.
Siren Marine closed its $1.5 million seed round, and also announced the launch of 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, as well as mobile and desktop apps.
“Siren Marine is perfectly positioned to address the problems faced by boaters today and anticipates continued strong demand for its products and services,” said Siren Marine founder and CEO Daniel Harper in a statement. “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. Most recently as CEO of Nautic Global Group, he oversaw the sale of the company to Bennington Marine and continues to serve as chairman.
“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.”