The Google Maps for boaters, making boating easy, safe and fast. Getting everyone out on the water!
- 1,400% user growth (Q3 '21 Year on Year)
- Exceeded 2021 sales targets by 18%
- £660,000 ARR*
- 5:1 LTV/CAC ratio
We save boaters hours of frustration by finding the best and safest routes to their destination. Instead of having to use multiple apps, sailors can simply drop a pin on the map, and we’ll work out the best route in seconds.
In 2021 we set out to obtain 15,000 paying subscribers. With the boating boom surpassing even our own projections, we blew past that target at the end of the summer, achieving more than a 1,400% year on year growth rate.
Now, with a reach of hundreds of thousands of boaters and growing, we’re able to help the wider marine industry, by promoting businesses directly to actual boat owners.
Similar to Google Maps, boat shops, marine electricians, boatyards, sailing schools and many more will now be able to promote themselves directly on the map inside savvy navvy.
This increases our addressable market, with €20 billion euros being spent annually on boating accessories and marine equipment. Our ad platform is expected to provide a solid additional revenue stream.
Substantial accomplishments to date
● Increased ARR to £660,000 (768% year on year growth)*
● 223,000 registered accounts
● 43,000,000 miles of routes calculated
● 1,400% paying subscriber growth rate (Q3 YoY)
● 5:1 LTV to CAC ratio
● Raised more than £860,000 - we now have more than 1,400 investors
● Added support for 8 languages
● Marketing rollout across all five regions
● Launched first-of-its-kind Departure Scheduler
● New revenue stream via "Book a Berth" directly from within the app
● Added our own custom Lidar bathymetry in selected regions
● 56,000 registered accounts
● 15,000,000 miles of routes calculated
● £76k Annual Recurring Revenue (375% year on year growth)*
● Increased our chart coverage to 93% across five global regions
● Raised more than £600,000
● Including the founders of Kahoot
● Reduced our customer acquisition costs to under £40**
● Added support for motorboats, extending our targetable market
● Secured partnerships with Sunsail, Navily, Dockwa, GJW Insurance, XShore, various yacht clubs and marine brokerages around the world and many more
● Raised more than £330,000
● 22,000 registered accounts
● 6,000,000 miles of routes calculated
● £16k Annual Recurring Revenue*
● Reached Product Market Fit***
* Based on unaudited management accounts
**Data for UK and Ireland marketing campaigns
*** Defined as having more than 40% of users who would be very disappointed if they could no longer use savvy navvy. We reached 47% in Dec 2019
USA - Freemium
In 2022 we are rolling out a freemium model in the US, the biggest boating market in the world. This will put savvy navvy in every boaters pocket and increase the value of our new 'Promoted Businesses' ad platform.
The freemium users act as an acquisition channel, reducing our CAC even further. The upsell to the Premium plan ($69) increases our average revenue per customer.
The rest of the world - Free Trial
In other parts of the world, we will continue our existing Free Trial model. This dual-pronged approach allows us to monitor the success of our Freemium in the US, by closely comparing KPIs.
The proven Free Trial model provides three annual subscription plans, ranging from £35 to £65 per year with an average customer lifetime value of £270.
With an average customer acquisition cost of £40, even allowing for fluctuations this results in a very healthy 5:1 LTV to CAC ratio.
Use of proceeds
This next phase for savvy navvy revolves around continued user growth and adding an ad platform for marine businesses.
The funds of this round will enable us to increase user growth by:
● Expanding to paddleboarders, kayakers and jet skiers
● Putting savvy navvy into every boaters pocket
● Increase average revenue per user
● Adding a new revenue stream with the rollout of 'Promoted Businesses'
And much, much more...
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