🧬 Rayvan

Raywan is an AI tool to extract knowledge from research to accelerate scientific discovery. They let their community invest and raised $287.400 so far! So did I.

Here’s why:

• Having published 2 ML research papers, I understand the time & effort it takes to compose scientific literature, compare results, and cite them accordingly.

• I always believed there was a better, more systematic way to perform research, scan through 1000s of studies at the same time and extract useful information, allowing me to focus on pure research.

  

🏃🏻 Rundown

founder story/problem/market-fit

The founders are building Raywan Systems to accelerate scientific research by using natural language processing, artificial intelligence, and machine learning technologies to allow researchers to identify the available evidence from the literature to support evidence-based decision-making, including evidence-based medicine, enabling researchers to collaborate in scientific and medical research.

• Robert Ayan - 20+ years of experience founding SaaS companies, former VC

• Hossam Hamady - 10+ years of experience in full-stack SWE, system architect

• Marc Keylard - Senior sales manager with an >20 years career in managing sales managers that manage sales people. Selling B2B SaaS solutions to Higher Education, Medical Practice & Research.

🧐 core business model

• RayWan Systems operates on a subscription model, offering three tiers of service catering to the needs of researchers and academics. They boast an impressive 78% customer retention rate with an 11% churn rate.

• Growth Factors

  • Market Size:

    • TAM (Total Addressable Market) encompasses the entire academic software market, estimated at $659 billion.

    • SAM (Serviceable Addressable Market) targets the enterprise software market within academia, estimated at $280 billion.

    • SOM (Serviceable Obtainable Market) aims to capture $300 million in enterprise sales and attract 200,000 customers for SaaS subscriptions within the first year.

  • Gross Margins: While not publicly disclosed, RayWan Systems anticipates maintaining a robust gross margin of around 85%.

  • Distribution: RayWan Systems primarily relies on personalized outreach to academic institutions and researchers for SaaS onboarding. Referrals hold significant potential given the inherent value of the product within scientific circles, but the distribution strategy is not yet clearly defined.

  • Network Effects: It seems they are not yet properly incentivizing research teams to use the platform in their favor. One can assume word-of-mouth, but no numbers appeal to the high-degree of organic adoption.

• 2 Growth Limiters

  • Lack of Product-Market Fit (PMF): Company poses high retention rates and traction to assume solving a desperate enough problem for researchers. They should find a market entry for enterprise, though. Product-led bottom-up can only get you so far.

  • Operational Scalability: Not a worry, enterprise sales hires should expand, so should DevOps teams. Other than that, a clear SaaS.

AI competitive advantage

1. Model builders, model integrators, or vertical enterprise players? No proprietary models needed, just ML integrations.

2. Data Strategy: As model integrators, they do not own their data. As the company scales, their model can get better and far more accurate as bolsting better scientific studies and citations.

3. Direct access to customers? Yes!

why researchers love it

• Rayyan Enterprise and Rayyan Teams+ make it faster, easier and more convenient for you to manage your research process across your organization.

  • Accelerate your research across your team or organization and save valuable researcher time.

  • Build and preserve institutional assets, including literature searches, systematic reviews, and full-text articles.

  • Onboard team members quickly with access to group trainings for beginners and experts.

  • Receive priority support to stay productive when questions arise.

why you will too!

•  🙏 Future Category King: Raywan Systems is in position to become the go-to platform for researchers, bolstering scientific literature.

• 📈 Market Trend: More and more researchers are looking at simplified automated ways to perform research, get the information they need and exhange lessons with fellow researchers. That’s where Rawyan comes in.

• ⬆️ Traction: It took Raywan 18 months to 500k researchers using the platform with current revenues of $4M. Founders estimate $100M in 6 years.