Funding Will Drive International Expansion and Growth of Development
TORONTO & PALO ALTO, Calif.–(BUSINESS WIRE)–#boating–Raiven Capital, a global early-stage venture fund, today announced its investment in KnowWake, the leading marine navigation platform for recreational boaters. The funding will be used for international growth and product enhancement. Now available in 26 countries, KnowWake is commonly referred to as “Waze for the Water” and brings together safety and fun for everyone on any type of vessel.
Other investors include LOUD Capital, Strand Venture Partners, and notable angels.
“We are very excited about this crowdsourced platform, especially as there are few offerings that enable boaters to navigate waterways safely and efficiently while building community,” said Raiven Capital’s General Partner Paul Dugsin.
“KnowWake rethinks boating as we know it and we are pleased to see the company connecting so many on the waterways,” said Anna Shen, Venture Partner, Raiven Capital.
“Raiven Capital brings some of the brightest minds in venture capital from Silicon Valley. The follow-on investment from our initial investors is exciting as we are rapidly growing to meet user demand. Also, keep an eye out for the launch of our business portal — just in time for the Fort Lauderdale International Boat Show in late October,” said Dan Karsko, CEO and Founder of KnowWake.
Founded on the idea to provide simplified real-time wake zones and waterway information, KnowWake is a first-of-its-kind navigation platform crowdsourcing from users across the globe.
Fort Lauderdale-based KnowWake offers real-time information shared with the community and includes: hazards, raft-up parties, police and more. Since releasing location sharing, grouping and in-app messaging earlier this year, KnowWake has entered the social commerce space and has several key features on the horizon to bring high-value to the user experience.
“The market potential is enormous: Mobile device-based navigation apps have become vital for real-time information on roads and highways and now for waterways,” said Supreet Manchanda. General Partner, Raiven Capital.
KnowWake is positioning itself to be the leader in this technology and is the fastest growing community online for recreational boating. With 5000+ miles of wake zones charted throughout the Intracoastal Waterway (ICW) and beyond, users can find and route to more than 40,000 verified waterfront destinations.
About Raiven Capital
Raiven Capital is a global early-stage Series A technology venture fund with roots in both Silicon Valley and Toronto. Raiven Capital focuses on opportunities created by artificial intelligence, 5G and the Internet of Things. Raiven actively seeks passionate founders developing companies that optimize value chains across cybersecurity, finance, energy, environment, health, medical devices, and food sectors. Once growth is robust, Raiven exits its portfolio companies to later-stage capital in Silicon Valley and beyond.
Contacts
Anna Shen
press@raivencapital.com
