Maritime Tech Company Seafair Receives $5.7M Backing Led By General Catalyst

3 mins read  Sealuminati TeamOctober 20, 2021

Seafarers play a remarkably crucial role in world trade but they encounter a lot of problems ( frauds) in the hiring processes. Many lack clearness about the very crucial things such as pay & even the working condition of that vessel where they are going to stay for months. To solve all these problems which were faced by the crews on board, the social maritime platform Seafair has launched. The Seafair collects all the information regarding the shipping vessel, companies & crews and uses matching methods to fit crew members with the right vessel.

Today the maritime tech company Seafair has announced its $5.7M financing round which was led by the General Catalyst with other participation from First Minute Capital, Signal Ventures, TA Ventures, SV Angel, Speed invest, and prior investors FJ Labs. This financial support encourages Seafair's to expand their network & widen their software such as Western and Eastern Europe, the Philippines, and the United States.

The founder & CEO of Seafair Agapitos Diakogiannis said “Seafarers perform one of the most demanding jobs in the world,” we have to make sure they should get the opportunities & the guidance which Is required to do the work more efficiently onboard a ship. We envision a world where exceptional seafarers can shine & also the company gets enough profit so that they can pay a handsome amount to seafarers.

Since Seafair is a Maritime tech company, it collects all the data regarding the seafarer’s nature, skill, knowledge, and work experience. Accordingly, they will notify them about the best fit vessel for them that suits their personality.

The managing director & General Catalyst Niko Bonatsos says The maritime industry is one of the conclusive untapped horizons. One needs to have a deep knowledge of this profession to succeed in this market as we have seen in Seafair and we are also excited to be a part of this beautiful voyage.

The management & recruitment method of Seafair is complex. It involves specialization, numerous sources, different data & technology that can create a unique competitive environment and help Seafair to complete its goal.

About 50% of seafarers come from Eastern Europe and the Philippines, and they completely rely on the agencies to staff vessels. Since agencies rely on hiring commissions to make money, however, they might not always provide the best fits for openings, Diakogiannis said.

Seafair provides a very transparent & legal version of formal agencies.

Seafair has launched in late 2020, and it has successfully acquired various paying clients, including a top 100 shipping companies. The company has 5 active locations: NYC (USA), Berlin (Germany), Athens (Greece), Odesa (Ukraine), and Manila (Philippines), but most of its employees work remotely- a type of environment in which companies plan to maintain in post covid19. The company puts a lot of effort into building a diverse, inclusive, and transparent culture. For example, everybody at Seafair knows the complete structure of every member of the team. “The only way to disrupt an opaque industry is to first promote internally all the values we want to bring to the industry,” said Agapitos.