savvy navvy

Pitch

About the Campaign

savvy navvy is akin to 'Google Maps' for boats, offering the first comprehensive solution for leisure mariners and watersport enthusiasts in an easy-to-use app.

The app has experienced phenomenal growth and proven product-market fit, boasting over 1.6 million downloads worldwide. From the proverbial "zero to one," savvy navvy is now poised to scale up dramatically, aiming to go from "one to a hundred."

Market Opportunity

The leisure marine industry is worth an estimated €100B annually, with €20B spent on boating equipment and accessories. With 185 million watersports enthusiasts, we are ready to scale.

Go to Market Strategy

In 2023, we bolstered our team by appointing our first C-level hire, Alex Ostler, as our new Chief Marketing Officer. She hit the ground running and produced a go-to-market strategy that will see us stack a variety of marketing initiatives to grow our brand awareness and increase our market share.

Traction & Key Accomplishment

Our business has seen tremendous growth, and we have consistently delivered outstanding figures, quadrupling our annual recurring revenue in the last two years alone.

Some Numbers

• More than 1.6 million app downloads

• 4.7 (US) / 4.6 (UK) star rating in the Apple App Store

• With users across more than 100 countries worldwide

• Plotted more than 262 million miles of routes around the world

• Tracked more than 10 million miles of GPS tracks

• Collectively, that is more than 17 million hours of ‘on the water’ data

• Increased Average Annual Revenue Per User to £74 *

• Resulting in an associated projected Customer Lifetime Value of £347

• Quadrupled ARR over the last two years ($2.9M ARR in Q1 2024) *

* based on unaudited management accounts.

Some Awards

• We were featured on national TV in Australia (2023)

• Won the British Marine Business of the Year award (2023)

• Won the Great British Entrepreneur of the Year Award (Best Scale Up 2022)

• Nominated for the Barclays Entrepreneur of the Year Award (2022)

• Won the Seedrs Entrepreneur of the Year Award (2019)

Team

The crew at savvy navvy is a fully remote, diverse team with representatives from five countries across two continents. Our backgrounds include Google, Clipper Yacht Race and Daimler Benz.

In late 2023, we strengthened our team by adding Bart, head of Engineering; Surya, redesigning our routing algorithm to its second incarnation; and Alex, our Chief Marketing Officer.

These changes have allowed Jelte, our founder, to focus on the strategic goal: taking us from “one to a hundred”.

Business Model

Since our last funding round, our subscription-based model has been refined to optimise revenue. Premium in the USA now costs $99, and subscription prices in the UK range from £45 to £89 annually.

These price increases reflect our deepened understanding of market dynamics and have increased the projected Customer Lifetime Value to £347. Resulting in a 6:1 LTV to CAC ratio, showing headroom to expand.

We have two additional revenue streams: a data insights platform and a B2B advertising vehicle.

Use of Funds

1. Expand our marketing efforts across influencer marketing, invest in programmatic SEO, grow our instructor program and extend our paid advertising channels

2. Continue to invest in RnD work, producing high-resolution bathymetry using satellite, Lidar and AI

3. Invest in several integration projects with various manufacturers in the industry. We are already in discussion with a handful of manufacturers to, for example, but not limited to, improve electric boating and reduce range fear