Ready to Go

Today we announced the close of $37.5 million in financing, a follow-on to our earlier announcement from September. This isn’t the point of what we do, but it enables us to fulfill the promise we’ve made to ourselves and to the world to change boating for the better. 

This round includes some notable investors:

  • L37 Ventures, where partners include Randall Ussery, who will now join our board of directors, and Monica Lee, my first hire and director of business development at CityAuction (the internet auction site I founded in 1997) 
  • Duffy Duffield, the founder of Duffy Boats, who has sold more electric boats than anyone else in the world
  • Jeff Wilke, former CEO of Amazon’s Consumer business unit
  • Tom Alberg, angel investor and former board member at Amazon
  • Megan Smith, former CTO of the US, leader of Shift7, dedicated to increasing diversity in tech
  • Several Pure Watercraft employees

You see a pattern – investment by people who know us and what we’re doing very well. Together, we’re making boating better – better for the boater, better for the boat owner, and better for everyone else who enjoys our precious outdoors.

Thanks to those who helped us get here (including current and former employees), and those who will take us to the next level.

Andy

Powering Forward

Today, we announced funding of $23.4 million (including some conversion of convertible debt raised earlier). When completed, this funding round will enable us to build out our team and production capacity to meet the needs of our customers. 

We’ve spent the last 9 years developing the Pure Outboard – the highest performance electric marine propulsion system on the market (in terms of propulsion for its weight). While there are many different kinds of boats, the way to bring all of them into a new era that’s more enjoyable and accessible to more people than ever before is to develop groundbreaking technology from the ground up, and to find ways to power the boats people want.

To that end, we’ve recently announced complete boat packages – a pontoon boat, a bass fishing boat, and a rigid inflatable boat. These offerings make it easy for someone to choose a complete system, with the confidence of knowing that everything fits together well, and serves the purpose they intend. Pontoon boats and fishing boats are now the top categories of boat sold in the US, and rigid inflatables are the boats most often used as tenders on yachts.

To get to where we are, and where we’re going, we rely on our customers and others as part of our team. Your pre-orders, referrals, and ideas power us forward. The most powerful messages about our company, its mission, and our products come from you – at the boat ramp or dock, on Facebook or Twitter, or on Zoom calls with your friends.

Thank you for your continued support.