Arc is an electric boat manufacturer that has recently made the news with its venture capital fundraising efforts. The Los Angeles, California-based startup is bringing electrification to the powerboat industry. It's doing its part to help clean up the environment and put down on the number of carbon emissions released into the air and water with a cleaner energy source that provides boaters with ample power for various recreational activities on the water. If you're not familiar with this new company, here are 20 things you probably didn't know about Arc.
1. Arc specializes in high-performance boats
According to Crunchbase, Arc, also known as Arc Boat Company makes powerboats with high-performance engines. If you haven't heard of the brand before, don't feel bad. It is a brand new company that just recently launched its operations in 2021. The company hasn't even been in business for a full year yet.
2. Arc Boats uses 19 technologies to power its website
The cost of operating its website is still low. According to statistical data reported by the company, it uses Viewport Meta, iPhone Mobile Compatible, SPF, and several other technology products and services. Since the company is so new, it doesn't yet have a large product line to advertise, but the website operates smoothly and efficiently.
3. Consumers are just becoming aware of the Arc website
We checked out the stats on the monthly visits to the Arc website to learn more about its exposure to the public. We discovered that it's growing at a nice rate. The data show that over the past thirty days, 1,427 people have visited the website to inquire about its line of powerboats. This number represents a monthly visits growth rate of 8.69 percent, which is considered to be healthy growth and steady progress in their marketing efforts.
4. Arc Boat Company is the most popular in the United States
Although the available data for the statistics is new and still a bit sketchy, it's looking positive. So far, the majority of visitors to the website are from the company's home country of the United States. Seventy-eight percent of the visitors are from this region. Twenty-two percent of website traffic is from people who live in Australia.
5. Arc Boats has two members in its executive leadership team
Arc Boats is so new that it has not yet added many new members to its executive leadership team. So far, it shows that the decisions are being made by its two founders. Mitchell Lee is a co-founder and he also serves as the chief executive officer of the business. Ryan Cook is a co-founder and he serves as the chief technical officer for the organization.
6. Arc has one member on its board of directors
Arc has done well by establishing a board of directors within its first year of operations. Many new companies don't get that far until later in their development. Greg Reichow is the sole member on the board so far. He is a partner at Eclipse Ventures, one of the venture capital firms that is backing the establishment and growth of Arc Boat Company. Greg oversees one portfolio company and currently serves on five boards of directors in advisory roles. He provides advisement on behalf of the investment interests that his company has in Arc Boat Company, offering his expertise to the leadership on strategic and financial planning to move the company forward in its growth and development.
7. Arc is a venture capital-backed
Arc has secured the interest and commitment of eight investors, which is remarkable for a company of its age. It is an early-stage venture-capital-backed business. So far, Arc has participated in two rounds of fundraising with the most recent round closing on November 23, 2021, in a round of Series A fundraising. The total amount raised is $30 million.
8. There is high investor confidence in Arc
Arc has done an exceptional job of promoting its concepts for a new company to investors. It has attracted the interest and participation of eight venture capital firms that support the fundraising efforts. We can see that investor confidence is high in Arc because of the large number of investment dollars that have been made so far. Investors include Greg Reichow, Lowercarbon Capital, Combs Enterprises, Dreamers Venture Capital, Abstract Ventures, Andreessen Horowitz, Kevin Durant, and Thirty-Five Ventures. The new business is off to a good start with solid financial backing to get the operation off the ground, up, and running.
9. Arc Boat Company uses aerospace engineering
According to PitchBook, The Arc Boat company uses the latest technology in the design of its new powerboats. They are electric-powered and use engineering designs that use aerospace technology for the creation of their customized battery packs. This is one of the secret designs that lends enhanced stability to their watercraft along with a higher range for the electric boat industry, and the speed that makes them high-performance watercraft. The design team is fulfilling their goals of developing and delivering an electric boat to consumers that provide them with a memorable boating experience that meets and exceeds their expectations on the water.
10. Arc Boat Company is good for the environment
The products designed by Arc are made to help solve the problem of global warming and environmental pollution. Their solutions work for the good of the planet in two ways. First, the electric/battery-powered energy source is cleaner operating than traditional petrol-powered engines. It eliminates the production of carbon emissions. This helps to keep the air and the water cleaner than traditional outboard engines. The second benefit is that the boats operate more quietly than their gas or diesel-powered counterparts. Someone has finally developed a high-performance powerboat that is quiet when you rev the engine.
11. A former Tesla executive invested in Arc
According to Techcrunch, Arc Boat Company appealed to a former Tesla executive. Greg Reichow, who also occupies the sole seat on the board of directors for Arc Boat Company believes in the technology and the mission of the organization. He also believes that the boat manufacturer will become profitable and give him a good return on his investment. Reichow was with Tesla in the early days of the electric automaker's development and operations.
12. Other notable personalities have invested in Arc Boat Company
We also noticed that other celebrity figures believe in the future of Arc. In Addition to Reichow, other investors of notoriety are Will Smith, of Dreamers Venture Capital, and Rich Kleiman and Kevin Durant of Thirty-Five Ventures. Combs Enterprises is another investor in the company. This financial firm is owned by none other than Sean "Diddy" Combs. These wealthy and famous celebrity personalities are in firm support of Arc's mission to provide cleaner running forms of recreational watercraft. Arc has secured the interest and confidence of some powerful backers who not only support the efforts with their financial help, but they also believe that cleaner energy sources are imperative for saving the planet.
13. Arc has an honorable overarching goal
We also learned that Arc has its mission tied into the bigger picture for mankind and the condition of the environment. They plan to electrify every motorized craft that moves across the water. The only type of power they will produce will be clean running with an electric platform that runs off of battery power. It's no longer an option, but rather a necessity as we see the effects of global warming changing weather patterns and wreaking havoc across the world.
14. Arc plans to release a limited edition boat
The first model that Arc plans to release is a special limited edition boat. It's going to be an expensive model with a starting price of $300,000. This press release was confirmed by the CEO of the company. Not all Arc boats will be that expensive though. The leadership shared that there will be various electric watercraft available for various uses and at different price points to make them more affordable for the general public. What we know so far is that Ar plans to produce the Arc One, which is made of aluminum and measures 24 ft in length. It will operate via a 475 horsepower electric engine that can run between three to five hours on a full charge. Less than 25 Arc One models will be produced. Their initial plan is to build around 25 of the expensive limited-edition models in the short term.
15. Arc is a small enterprise
According to its LinkedIn page, Arc is a small company. There are just thirteen employees listed on its workforce. The company has one open position available. They're currently recruiting for a marketing lead for the organization in the Los Angeles area.
16. Mitchell Lee is an engineer
Mitch Lee, co-founder of Arc studied at Northwestern University. He majored in the field of mechanical engineering and economics. While there he earned a GPA of 4.0. He graduated with his bachelor's in engineering in 2011. He was involved with the triathlon team. He also attended the University of Melbourne in Australia in the Study Abroad program in 2009. During the year that he was in Melbourne, he was a member of the Ormond College Basketball Team. Lee also completed the Y Combinator program in 2017.
17. Mitchell Lee is a serial entrpreneur
The chief executive officer of Arc has founded more than one company. He started his professional career t Northwestern University as a Research Assistant. His first job after graduation was as a Stress Analyst for Boeing in Mesa, Arizona. He left Boeing to become a web developer for Pebble Tech in San Francisco. He also worked as a software engineer for Clinkle before confounding a company called Penny. The company was acquired by Credit Karma in 2018. He worked for Credit Karma for a few years after the acquisition as a Senior Manager before co-founding Arc.
18. Ryan Cook is a notable academic and engineer
Ryan Cook is a co-founder of Arc who is also the chief technology officer. He attended Northwestern University, graduating with his bachelor's of science in mechanical engineering with a certificate in engineering design. In 2007 he was chosen as an elite group of just 100 students throughout the state of Pennsylvania to attend the Pennsylvania Governor School For The Sciences. While still in high school he attended mathematics, computer science, chemistry, and physics courses at the college level. He worked on a team that published an academic research paper. He also worked at Boeing, as well as working as an engineer for SpaceX.
19. Arc Boat Company has a winning team
The co-founders of Arc bring many talents to the organization. They were both brilliant in academics. Both had impressive work histories, with notable organizations in the aerospace industry and other industries. Each co-founder has a proven track record of success in their chosen profession. They used their talents to form their own company, working with their technology and engineering skills, to develop recreational products that will give consumers healthier options for fun in the sun.
20. Arc is a company to keep your eye on
Arc is a brand new company in business for just eleven months. It's already caught the attention of those who understand the electric power technology industry. The owners have well thought about the organization with a solid strategic plan and reasonable goals. It is developing its platform in a methodical, common-sense manner. They're starting small with a team of just 13 to 15 initially, but the staff all have the expertise and skills to make the company a success. Arc is a company to keep your eye on, as it has a sunny outlook for growing and prospering. It may become the next leader in the electric powerboat industry.
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Written by Allen Lee
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