Blue Water Index, a marine valuation and marketing intelligence platform, announced that it opened a $2 million seed round to further fund its development.
Founded by enterprise software veteran and longtime sailor Robb Corrigan, the company was created to provide an independent reference for what a boat is worth.
“I actually think coming from outside the traditional marine industry is part of the reason I saw the problem,” Corrigan said in a press release. “I went to buy a boat and couldn’t independently establish what it was worth. My background is in enterprise technology, data and AI, so I looked at it and thought, This isn’t an unsolvable quirk of the boat market. It’s a data problem. And that’s what led to Blue Water Index.”
According to the release, the $2 million seed round will be used to accelerate engineering and data science, expand commercial activity, and support licensed data, infrastructure and compliance. Planned hires include a senior data scientist and full-stack engineers, along with building founder-led sales and securing the company’s first lender and insurer partnerships. Blue Water Index also plans to bring in a marine-industry sales lead as it scales.
