In the conversation, Mitch walks through the path that led him to Arc, from a childhood fascination with stocks and compounding interest, to building and selling his first company, to betting big on what electrification can unlock on the water. Founded in 2021, Arc has since raised over $110 million through its Series B and scaled from delivering its first customer boat to producing multiple boats per week, while also landing major commercial partnerships at working ports.
Mitch Lee is the CEO and Co-Founder of Arc, a marine technology company building high-performance vessels for recreational and commercial use. He studied mechanical engineering and economics at Northwestern University and previously founded Penny, a software company acquired by Credit Karma. A lifelong boater, Mitch founded Arc in 2021 to apply modern electric propulsion and software to an industry long overdue for innovation.
“A lesson I still hold onto today is that the goal isn’t simply to accumulate money. What’s the purpose of that, and what value do you really get back? For me, it’s about allocating what you have, whether that's money, or attention, toward the things that bring the most happiness.”

