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Liquid Robotics Closes $45 Million Series E Funding to Accelerate Growth in Worldwide Sales and Ocean Data Services

Mar 19 2013 12:00AM

Marketwire

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SUNNYVALE, CA -- (Marketwire) -- 03/19/13 -- 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."

About Liquid Robotics
Liquid Robotics is an ocean data services provider utilizing innovative, long duration, autonomous surface vehicles. These persistent and versatile platforms utilized across the globe for ocean data observation, monitoring and surveillance break the economic and risk barriers to ocean data collection. Based on the proven and award winning Wave Glider® technology, the Company's ocean data services helps address the biggest challenges our world faces, including global climate change, national security, hurricane & tsunami warning, and offshore energy & resource management. Please visit www.liquidr.com

About Riverwood Capital
Riverwood Capital is a globally focused private equity firm that invests in high-growth businesses in the technology and services industries, across a variety of verticals and geographies. Riverwood was established by a talented group of private equity and technology industry executives, which gives Riverwood a unique combination of operational, strategic, financial and technical insight into investment candidates and portfolio companies. Riverwood has offices in Menlo Park, CA, New York, NY, Sao Paulo, Brazil and Beijing, China. Please visit www.riverwoodcapital.com

About VantagePoint Capital Partners
VantagePoint Capital Partners is a global leader in financing and supporting transformative companies primarily focused on energy innovation and efficiency. With a best-in-class investment team of business and scientific experts, a broad network of corporate Strategic Partners, accomplished Senior Advisors, and more than $4 billion in committed capital, VantagePoint has the resources and talent to build important, industry-leading companies. Headquartered in Silicon Valley with offices in Beijing, China, VantagePoint has active investments in over 70 innovative companies. Please visit www.vpcp.com.

Liquid Robotics and Wave Glider are registered trademarks of Liquid Robotics, Inc., in the United States and other countries.



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Media Inquiries:
Joanne Masters
PR & Marketing
Liquid Robotics
Cell: 1-858-232-5538
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Source: Marketwire


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