Dockwa Secures Strategic Growth Investment From PSG
Marina software platform plans to accelerate AI product development, international expansion and adoption of its operating system across the marina sector.
Dockwa has secured a strategic growth investment from PSG, a growth equity firm focused on software and technology-enabled services companies.
The investment is intended to support Dockwa’s expansion from a marina software platform into what the company describes as a full-stack operating system and intelligence layer for the marina industry, while accelerating development of AI-based products for marina operators, insurers, OEMs and investors active in the marine sector.
Founded in 2015, Dockwa initially focused on simplifying transient berth reservations for boaters. The company said its platform has since evolved into a broader marina management system covering inbound enquiries, transient and long-term contracts, integrated payments and billing, fuel and retail point-of-sale systems, electric metering, dynamic pricing and accounting integrations.
According to Dockwa, the platform currently serves nearly 4,000 marinas, including 97% of the top 95 US harbors, and more than 450,000 boaters. The company said it also transacts with more than 175,000 owners of vessels over 40ft annually across US marinas.
Dockwa noted that while vessels over 40ft account for approximately 5% of registered boats in North America, they generate more than 60% of marina spending across dockage, fuel, storage, insurance and service activities.
The company said its consumer marketplace, Marinas.com, together with Marine Graph, its proprietary data platform, has compiled 11 years of transaction history covering more than 800,000 boats and 66 million nights booked.
The investment will support the next phase of Dockwa’s strategy, centered on AI-enabled products built on the Marine Graph platform. These include Telescope, a pricing and revenue intelligence platform for marina operators, and Marina-X, a benchmarking and underwriting platform designed for insurers, lenders and institutional investors.
Dockwa also plans to increase adoption of additional software modules within its existing marina customer base and expand its operations into Canada and Europe.
“Dockwa was built to make it easier for people to get out on the water,” said Mike Melillo, co-founder and CEO of Dockwa. “What started as a simpler way to book a slip pulled us, conversation by conversation, into every part of how a marina actually runs. Eleven years on, the platform reflects that. PSG understands what we are building and why it takes time to compound. With their partnership, we can keep building the operating system this industry deserves — and get more people on the water doing what they love.”
“We have spent considerable time evaluating software businesses across the marine and recreational ecosystem, and Dockwa stands out for its unique combination of a strong marina operating platform and scaled boater network,” said Chris Andrews, Managing Director and Chris Collins, Principal at PSG. “By serving both marina operators and boaters, the company has built a differentiated platform with powerful network effects that we believe will continue to strengthen over time. We are excited to partner with Mike and his team for the next chapter.”
“Going all-in on Dockwa produced one of the largest year-over-year growth stories in our history,” said Dan Jemal, investor in Brooklyn Bridge Marina. “Dockwa eliminated friction across seasonal and transient reservations, and Dockwa Deals opened the door to an entirely new pool of demand – boaters we never would have reached on our own.”
Terms of the investment were not disclosed.
Founded in 2015 and headquartered in Newport, Rhode Island, Dockwa provides software and operational tools for the marina industry. Its platform supports reservations, payments and marina management functions at more than 4,000 marinas across North America, while its consumer marketplace, Marinas.com, connects more than 450,000 boaters with marinas and harbors. The company’s Marine Graph data platform underpins a growing suite of products aimed at marina operators, insurers, OEMs and investors active in the marine sector.
PSG is a growth equity firm focused on software and technology-enabled services businesses. Founded in 2014, the firm has backed more than 170 companies and supported more than 550 add-on acquisitions. PSG operates from offices in Boston, Kansas City, London, Paris, Madrid and Tel Aviv.