Marine Technology Company savvy navvy Kicks Off Most Successful Crowdfunding Round to Date
Marine technology company savvy navvy celebrates its fastest overfunding to date on investment platform Seedrs after opening its doors to investors, with offers still pouring in.
Published: Saturday, February 11, 2023 12:00 pm
By: savvy navvy
The innovative all-in-one navigation app, described as the ‘Google maps for boats’, just launched their campaign and has already blown past their minimum £600,000 target ($740k).
The round is currently still open, but it may be the last chance for anyone who wants to own a piece of the marine tech company to come onboard in its possibly last crowdfunding round, after its most successful year to date.
By the end of 2022 the popular boating navigation app saw user engagement grow by over 400% in the USA year-on-year and savvy navvy also doubled its annual recurring revenue to £1.5m. The previous crowdfunding rounds run since 2019 proved hugely successful with more than £3m raised in total by more than 1,800 investors, including the founders of Kahoot.
“In all our rounds to date, this is the fastest overfunding we’ve ever experienced and I’m blown away by the continued support. We are knocking at the door of profitability and as a company we’re moving into a new phase. While our core product is targeted at boaters, last year we expanded that to paddleboarders, kayakers and jet-skiers too.
With this funding round we will be looking at launching our enhanced version of the app to get even more people safely out on the water. We are continuing to overfund, but anyone who wants the opportunity to own a piece of savvy navvy will have to act fast to not miss out. What a great way to start 2023,” says Jelte Liebrand, CEO & Founder of savvy navvy.
Interest in the navigation app, which ex-Google software engineer and avid sailor Jelte built from the ground up alongside his now 15-strong fully remote team – is more prominent than ever.
“We’ve hit close to a million app downloads and users have plotted more than 100,000,000 miles around the world. Now in our sixth year here at savvy navvy, we are actively shaping the marine industry for the better and challenging the bigger navigation apps in the market.
This investment will help continue to drive these business and new technical innovations forward. We are also working more closely with marine agencies and other stakeholders, as we are building one of the most insight-rich platforms on boating behaviour. It is a rare opportunity to play a part in shaping the future of sailing tech as we know it and we are so delighted to have our new investors on board as we head into the next phase of growth and innovation,” Jelte says.
Last year, the navigation app launched a hugely popular freemium plan in the US. In November savvy navvy announced a partnership with Waterway Guide, America’s most trusted and respected resource for cruising boaters, meaning more than 4,000 marinas and thousands of anchorages are now integrated into the savvy navvy app for all users to access.
To find out more about savvy navvy visit www.savvy-navvy.com or visit their Seedrs crowdfunding page.
ENDS To find out more contact savvy navvy’s PR Manager Isabel Johnston on [email protected] or telephone 0044 7818345936.
About savvy navvy Simplifying boating technology has always been the aim of savvy navvy, founded by lifelong sailor and ex Googler Jelte Liebrand in 2017. He was baffled at the amount of data sources you needed to get a clear picture of where you were, what the tide was doing, what weather to expect, how to plot your course to steer and how to find a good anchorage or marina and then how to share your plans with your buddies and family. He focused on tech that is already in the hands of most boaters. So, turning a phone or tablet into your boating buddy seemed like an obvious next step. In less than five years, savvy navvy has attracted global users from all over the world all using the app to help their experience on the water. As part of savvy navvy’s continuous growth, they have expanded to support kayakers, jet-skiers and paddleboarders with simplified navigation.
Today savvy navvy is available on Android, IOS, PC and Mac and can be used on an unlimited number of devices simultaneously.
Functionalities of the all-in-one navigation app includes; - weather forecasts
- automatic route planning with savvy routing™
- boat ramp information, ideal for anyone looking to launch their trailer boat
- savvy navvy’s market-leading departure scheduler, which enables boaters at a glance to see the best time to depart based on their route, wind and tidal conditions
- Ability to record your GPS tracks
- Anchor alarm
- Multiple satellite view options
- Night view
- And much more
savvy navvy’s ‘premium’ option includes global maps and enhanced access to other new integrated features such as tidal information, anchor alarms, satellite overlays, offline charts and greater planning functionalities.
Find out more on www.savvy-navvy.com.
tags: Boat Technology, Boating 101, Navigation
