On the heels of appointing Erica Dill Russell as its first chief commercial officer last week, maritime defence tech startup Kraken Technology is adding another hefty name to its roster today. Mike Pompeo, the former US Secretary of State and former director of the CIA, has been disclosed as an investor in the company, and with that, he is now joining the company’s international advisory group.
Kraken also said that Brian Bulatao, who is the former COO of the Central Intelligence Agency and Under Secretary of State for Management, and entrepreneur Jonathan Moneymaker, are also joining the advisory board. Moneymaker was the founder and CEO of defence tech company BlueHalo, which was sold in a $4 billion all-stock deal to AeroVironment last year.
Kraken’s focus is autonomous sea vessels, which many believe will be a key component of the next-generation of defence. Indeed, considering Russia’s encroaching activity in UK waters, you could argue this is already a major focus in the current generation of defence. Others that have been investing in their marine business include Anduril (which also works with Kraken) and Helsing.
Kraken has never disclosed how much it has raised, nor its full list of investors. A round announced in June 2005 included the NATO Innovation Fund, the UK government-backed NSSIF, and Estonian VC firm Superangel. It’s also inked a strategic partnership with shipbuilding prime NVL, although it has not confirmed whether it is an investor.
Things have been very buoyant for Kraken lately. Sources allege that the company is making “hundreds of millions” in revenue already. Meanwhile, would-be customers include NATO allies both in Europe as well as the US. The latter, Kraken said today, has included “successful” demonstrations “directly to operator groups” and it is on contract with the U.S. Special Operations Command and the U.S. Navy, among others.
Adding three key people with extensive networks in the US will in theory help Kraken widen that business funnel further.
Pompeo’s name has been in defence tech news this week for other reasons: on Monday it was announced that he has joined the advisory board of Ukraine defence tech company Fire Point, which has been under the spotlight concerning corruption allegations.
When he was Secretary of State during the previous Trump administration, Pompeo’s tenure took a turn towards cybersecurity. The final weeks of the administration saw the emergence of the Solar Winds breach. That prompted Pompeo to announce the formation of a new bureau to investigate it and other cybersecurity breaches, a move that was met with some criticism for failing to do more earlier or do take more decisive positioning from the outset.
“Kraken is focused on delivering high-quality transformational capabilities to NATO Allies and international partners,” CEO and founder Mal Crease said in a statement. “The credibility and expertise of our international advisors is unparalleled, and their involvement confirms and supports a rapidly growing adoption of Kraken capabilities on both sides of the Atlantic.”
