PiggyGPT

Private companiesCovered

Saildrone

Alameda, CA · Founded 2012

Saildrone designs, builds and operates wind- and solar-powered uncrewed surface vehicles for maritime surveillance, anti-submarine warfare and seafloor mapping, sold as a service to the U.S. Navy, Coast Guard and allied navies.

Profile

What it builds and who buys it

  • ·Saildrone sells data and missions rather than vessels: it runs a contractor-owned, contractor-operated model with end-to-end operations and data delivery as a service.Saildrone (company release), Jul 7, 2025
  • ·The fleet numbered 136 vehicles in three sizes in October 2023, when it passed 1,000,000 nautical miles, and the company was building one Voyager a week and one Surveyor a month.Saildrone (company release), Oct 17, 2023
  • ·Austal USA launched the first production aluminum Surveyor in Mobile, Alabama in March 2024, producing one every six weeks, for Navy testing that includes anti-submarine warfare.Saildrone (company release), Mar 6, 2024
  • ·Twenty Voyagers deployed in February 2025 for Operation Southern Spear in support of JIATF-South and the Navy’s 4th Fleet, under a DIU-facilitated award of 3,600 mission days.Saildrone (company release), Feb 3, 2025
  • ·The Navy extended that counter-drug work with a $16.3 million task order that keeps Voyagers in the Caribbean and Eastern Pacific into 2027.Breaking Defense, Aug 4, 2026
  • ·The Department of Homeland Security signed a blanket purchase agreement capped at $37 million in August 2025 to buy Saildrone vessels for Coast Guard maritime domain awareness.Tectonic, Aug 14, 2025
  • ·Sixteen Voyagers deployed for the Coast Guard in the Great Lakes and along the Northeast coast under a $15.5 million contract.The Defense Post, May 13, 2026
  • ·The Naval Oceanographic Office awarded a $10 million task order in September 2026 for Surveyor seafloor mapping in the Atlantic through most of 2027.Saildrone (company release), Sep 15, 2026
  • ·With Thales Australia, an ONR-funded trial towed the BlueSentry thin-line array behind a Surveyor for 26 days at above 96% uptime, detecting and classifying underwater and surface threats.Saildrone (company release), Apr 7, 2025
  • ·Spectre is 52 meters long, 250 tonnes and capable of up to 30 knots, designed for anti-submarine warfare and strike; Fincantieri can build five a year in Wisconsin and ABS has approved the design in principle.Saildrone (company release), Apr 20, 2026
  • ·Saildrone fired two JAGM missiles from a Surveyor at RIMPAC 2026 with Lockheed Martin, its first missile launch, and fielded a passive electronic warfare sensor in the same exercise.Saildrone (company release), Aug 20, 2026
  • ·In Europe it opened a Copenhagen headquarters in August 2026 and signed build contracts for a Spectre at Van Der Valk in the Netherlands, Surveyors at Umoe Mandal in Norway and Surveyor wings at Southern Spars in Poland.Saildrone (company release), Aug 18, 2026
  • ·Four Voyagers completed a six-month deployment for Denmark’s defence procurement agency at 92% fleet uptime, detecting more than 170,000 unique contacts.Saildrone (company release), Aug 18, 2026
  • ·The chief executive said the Lockheed Martin integration work was entirely self-funded research and development, with no Pentagon stake in the outcome at the time.Breaking Defense, Oct 29, 2025

Founders and leadership

  • Richard JenkinsFounder and chief executive

    Broke the wind-powered world speed record in 2009 at 126.2 mph and applied the wing technology from that ten-year project to sailing drones, founding Saildrone in 2012.Saildrone (company announcement), Sep 5, 2016

  • John MustinPresident

    A retired vice admiral with a 34-year Navy career, last as the 15th Chief of Navy Reserve; founded the digital agency Wasabi Rabbit. Joined in April 2025 to grow the defense business from Washington.Saildrone (company release), Apr 7, 2025

  • Michael MullenChairman of the board

    Chairman of the Joint Chiefs of Staff from 2007 to 2011 and earlier chief of naval operations; joined as board chairman in September 2023.Breaking Defense, Sep 29, 2023

Prospects, after the RIMPAC launch

Prepared by PiggyGPT, as of Oct 11, 2026

  • ·The contracts on file are services contracts measured in tens of millions: $16.3 million for the counter-drug fleet, $15.5 million for the Coast Guard, a $37 million Coast Guard purchase agreement and $10 million for Atlantic mapping. None is a program of record for a weapon-carrying vessel.Breaking Defense, Aug 4, 2026
  • ·The step up in vessel size and role rests on Lockheed Martin. Its $50 million brought the JAGM launch at RIMPAC, and Spectre is designed around Lockheed’s Mk70 and towed arrays, with first sea trials planned for early 2027.Saildrone (company release), Aug 20, 2026
  • ·The Navy left Saildrone out of the Medium Unmanned Surface Vessel program’s at-sea testing, and Saildrone sued in the Court of Federal Claims. Its complaint says its vessel met the requirements of the canceled Modular Attack Surface Craft program and was already under construction.Tectonic, Jul 16, 2026
  • ·Europe is a second market with state backing: EIFO led the 2025 round, Denmark ran a six-month deployment, and build contracts now sit in the Netherlands, Norway and Poland.Saildrone (company release), Aug 18, 2026
  • ·No valuation is on file from the company or named press, and no revenue figure is citable; the last stated total, $190 million raised, dates from 2021.Saildrone (company release), Oct 18, 2021
  • ·For the acquisition read, Lockheed Martin is an investor and the lead integrator for weapons on Saildrone vessels; no outlet has reported talks. The posture is watch.

A summary of what the figures on this page add up to, prepared by PiggyGPT from the record on file and its cited sources. Not the Street's view, and not advice.

Funding

Last valuation

No citable valuation

Last round or tender

$50Mraised

Strategic investmentLockheed Martin (investor release), Oct 29, 2025

A $50 million investment by Lockheed Martin, announced by Lockheed Martin with a commercial collaboration in which Saildrone keeps shipbuilding and Lockheed Martin is lead mission integrator.

Latest revenue figure

—

Valuation to revenue

—

Post-money valuation by round

Fewer than two dated figures on file to plot; the table carries what there is.

DateRoundRaisedPost-money
Oct 29, 2025Strategic investmentA $50 million investment by Lockheed Martin, announced by Lockheed Martin with a commercial collaboration in which Saildrone keeps shipbuilding and Lockheed Martin is lead mission integrator.$50M—
May 13, 2025Funding roundUnnamed by the company. Led by EIFO, the Export and Investment Fund of Denmark, with Lux Capital, Washington Harbor Partners, Crowley, Academy Securities and Pinegrove, to set up a European headquarters in Copenhagen.$60M—
Oct 18, 2021Series CLed by BOND with XN, Standard Investments, Emerson Collective and Crowley Maritime as new investors, bringing total funding to $190 million by the company’s account.$100M—
May 15, 2018Series BLed by Horizons Ventures, bringing total funding to almost $90 million by the company’s account.$60M—
Sep 5, 2016Series ALed by Social Capital with Capricorn Investment Group and Lux Capital, after a mission-related investment from The Schmidt Family Foundation.$14M—

Primary capital across the rounds on file: $284M

Revenue

No citable revenue figure on file.

Secondary venues

  • Clarity (formerly Hiive)public page seen Oct 11, 2026

    Clarity Price $7.51, as of Oct 11, 2026

    Clarity calls the figure a model-derived indicative estimate calculated daily; the page dates it no further than a "last updated" line reading August 28, 2026.

  • Nasdaq Private Marketpublic page seen Oct 11, 2026

    No price on the public page.

    The page shows no figure in its text or its title.

  • Caplightpublic page seen Oct 11, 2026

    No price on the public page.

    No public MarketPrice for Saildrone; the page shows only Caplight’s last-round figures.

  • Noticepublic page seen Oct 11, 2026

    Price in the page title $4.01, as of Oct 11, 2026

    The page blocks automated fetches; only its title rendered in a search result, carrying the figure undated.

A venue is listed when its public page named the company on the date shown. A price is the figure that page showed, under the venue’s own name for it and dated as the venue dated it; it is a level the venue publishes, not a trade. Nothing is recorded from behind a login.

Reads

Acquisition: Watch

A cited tie to a plausible buyer: a strategic partner, an investor stake, a tender offer, a stated appetite. Nothing reported.

Prepared by PiggyGPT, as of Oct 11, 2026

Signals

  • Oct 18, 2021Crowley Maritime Corporation joined the Series C as a new investor; it invested again in the May 2025 round.Saildrone (company release), Oct 18, 2021
  • Mar 13, 2025Saildrone announced a strategic partnership with Palantir to use its Warp Speed manufacturing software and AI platform across production and fleet operations, with no equity component disclosed.Saildrone (company release), Mar 13, 2025
  • May 13, 2025EIFO, Denmark’s state export and investment fund, led a $60 million round to bring Saildrone to Europe, with a European headquarters in Copenhagen.Saildrone (company release), May 13, 2025
  • Oct 29, 2025Lockheed Martin invested $50 million in Saildrone and named itself lead mission integrator, with Saildrone keeping all shipbuilding, to fit Lockheed launchers and towed arrays to Saildrone vessels.Lockheed Martin (investor release), Oct 29, 2025
  • Apr 20, 2026Saildrone released the design of Spectre, a 52-meter vessel compatible with Lockheed Martin’s Mk70 launcher and TB29 towed array, to be built by Fincantieri in Wisconsin with first sea trials in early 2027.Saildrone (company release), Apr 20, 2026
  • Jul 16, 2026Navy Times reported that Saildrone sued the Navy in the Court of Federal Claims after being excluded from the Medium Unmanned Surface Vessel program, asking to be reinstated.Navy Times, Jul 16, 2026
  • Aug 20, 2026Saildrone and Lockheed Martin fired two JAGM missiles from a Surveyor at RIMPAC, the first missile launch from a Saildrone vessel, after six months of joint development.Saildrone (company release), Aug 20, 2026

Named counterparties

  • Lockheed MartinInvested $50 million in October 2025 and is lead mission integrator for its weapons and sensors on Saildrone vessels.Lockheed Martin (investor release), Oct 29, 2025

Counterparties are named for a cited reason: a partnership, an investment, or a stated appetite. Naming is not a forecast.

A summary of what the figures on this page add up to, prepared by PiggyGPT from the record on file and its cited sources. Not the Street's view, and not advice.

Sources

Researched Oct 11, 2026