In total, DSD, together with Investinor, will invest NOK 40 million in Rayvn. The company grew 100 percent last year, and the ambition is to take large market shares in Europe and the USA.
The SaaS company Rayvn AS, which develops tools to support companies in dealing with critical incidents, has by 2020 doubled the number of customers and is now used in over 20 countries. The company is now raising NOK 40 million in fresh growth capital, with DSD and Investinor investing NOK 25 and 15 million, respectively.
The Stavanger-based investment company DSD is the owner of technologically leading and innovative companies in mobility, maritime and marine, tourism and health. The company has a long history in bus transport, shipping and freight transport, and owned the ferry and high-speed boat company Norled until the summer of 2019, before it was sold to foreign owners.
"By observing how well Rayvn worked in the company Norled, when we owned it, with good, user-friendly, processes during emergency preparedness and solid documentation for follow-up work, we became interested in Rayvn. Our good impression was further strengthened after we talked to several of Rayvn's largest customers and also received their positive assessment of the company and the system. We therefore look forward to participating in the company's further growth and development", says CEO Ingvald Løyning in DSD.
"We take it as a great vote of confidence when the top manager of DSD, who was previously also working chairman of Norled, through personal experience has seen how our core product works in critical situations, and now wants DSD to join the ownership side of Rayvn," says Henrik von Schlanbusch, CEO and co-founder of Rayvn.
Rayvn AS, which is headquartered in Bergen, and branch offices in Stavanger and Montana, has ambitions to continue the rapid growth in Europe and the USA from the offices in Norway and the subsidiary Rayvn Inc. in the USA.
“Rayvn already has a completely unique customer portfolio and is very well positioned for high growth in the coming years. We made our first investment in Rayvn in 2019, and due to the company's development, it was only natural to follow up with DSD, ”says Investment Manager Egil Garberg at Investinor. Garberg joins the board of Rayvn, together with a representative from DSD.
“The goal is for Rayvn to be the industry leader in Critical Event Management Software globally in a few years. The growth capital from the issue will strengthen our market efforts in Europe and the USA. The markets are huge and are characterized by older solutions that are heavy to use and expensive to operate ", says Henrik von Schlanbusch in Rayvn.
Rayvn's product is disruptive, both in terms of how we solve the problems for the end user, but also in terms of pricing model and go-to-market. The company has recently launched a unique collaboration model that allows users of Rayvn to involve and / or inform their stakeholders / contacts directly via Rayvn when a crisis or event should arise. The crisis management system is so easy to use that it does not require prior training.
"The Covid-19 pandemic has also further strengthened the need for small and medium-sized enterprises to have good, digital help tools when crises arise," says Henrik von Schlanbusch in Rayvn.
Despite the fact that the company is still young, the international ambitions are clear. Through the establishment of the subsidiary Rayvn Inc in the USA, Rayvn has gained a foothold in North America and is now used, among other things, to fight the large forest fires in California and for oil spill response in Canada.
“We see that 2021 will be a very exciting year for us. Our go-to-market plan shows clear signs that it works and tends to provide viral spread of the application. We aim to quadruple in Europe and grow even faster in the United States, ”continues Henrik von Schlanbusch.