Sofar Ocean

Real-time ocean data and analytics provider

San Francisco, California, United States

About Sofar Ocean

Sofar Ocean provides real-time ocean intelligence through a global network of weather sensors. The company operates an autonomous buoy network that collects data on ocean conditions like water levels, storm surges, and weather patterns. This data is processed and made available on their ocean intelligence platform, allowing clients such as marine researchers, shipping companies, and coastal planners to measure, predict, and respond to changes in the ocean. Sofar Ocean differentiates itself by offering both hardware products, like the Spotter and Wayfinder systems, and subscription-based access to their data analytics platform, creating a dual revenue stream. The company's goal is to enhance sustainable ocean management and climate resilience by expanding their buoy network and improving data analytics capabilities.

San Francisco, CaliforniaHeadquarters
2016Year Founded
$83.4MTotal Funding
LATE_VCCompany Stage
Data & Analytics, Hardware, Social ImpactIndustries
51-200Employees

Risks

Emerging competition from open standards like Bristlemouth may challenge proprietary systems.
Shipping industry's slow decarbonization limits immediate growth for optimization platforms.
Reliance on continuous funding rounds indicates potential financial vulnerability.

Differentiation

Sofar Ocean offers real-time ocean intelligence through a global network of weather sensors.
Their autonomous buoy network provides critical data on ocean conditions and weather patterns.
The Wayfinder platform optimizes maritime routes, reducing fuel consumption and emissions.

Upsides

Recent $39 million funding will expand their buoy network and data analytics capabilities.
Growing demand for ocean data boosts Sofar Ocean's market potential and client base.
Partnerships in the Bristlemouth Pioneer program enhance technological innovation and market reach.

Funding

Total raised$83.36 M
Latest valuation$196.75 M
StageLATE_VC
LATE VC
7/31/2022
$39
$196.75 M
$39
$195.00 M
$7
$35.00 M
SEED
9/30/2016
N/A
$1.75 M