Crowdfunding Australia

Deckee

PublicRetail
Offer LiveDeal ClosedCloses:
  • Type: Retail
  • Total Round Size (min): AUD$500,000
  • Total Round Size (max): AUD$1,500,000
  • Price per share: AUD$6.7

The mobile app, marketplace and analytics platform for boating!

Offer Live

Deckee

The mobile app, marketplace and analytics platform for boating!

  • Fees Paid by Issuer
    : 6%
  • Cooling-Off Rights
    : 5 days
  • Minimum Parcel Size
    : $254.6

Terms of Offer

What is Deckee?

Deckee is a mobile app, marketplace and analytics platform for one of the world's most popular leisure activities - boating. Used by over a quarter of a million boaters so far, Deckee helps deliver the best possible boating experience by providing every boater – whether beginner or advanced, with the tools and insights they need to be smarter, safer, and enjoy themselves on the water.

Over 200 million people around the world are now estimated to go boating every year with their friends and family, and that’s big business. The recreational boating market is a AUD$63 Billion industry, and is forecasted to grow to AUD$87 Billion by 2027.

Since launching just a few years ago, the Deckee app has really taken off, winning commercial contracts and the endorsement of state governments in NSW, Western Australia, Tasmania, along with the Boating Industry Association of Australia.

We are now commencing our international expansion into the US, and preparations are underway to activate Deckee’s monetization strategy, including the launch of Deckee’s marketplace spanning insurance, commerce and education, along with our unprecedented B2B data analytics products that help the industry understand how the waterways are being used.

Product Overview

Deckee Mobile App - Deckee is built to be a "swiss army knife" for anyone spending time on the water – it’s the ultimate boating companion. It’s a situational awareness tool, an activity tracker, a weather dashboard, and its a source of local knowledge, heatmaps, real-time alerts and official information.

But the best part is the cost - just like Google Maps on land, Deckee is completely free to use and constantly being improved which makes it a no-brainer for every boater to have.

For further detail see section 2.5 of the Offer Document.

Investment Highlights

  1. Australia’s #1 boating app

    Founded and built here in Australia, Deckee has grown to become the leading boating app locally and is now commencing its international expansion into the US.

  2. Used by over 300,000 boaters in 29 countries

    Deckee is used by anglers, sailors, kayakers, pleasure boaters – all types of watercrafts from all walks of life.

  3. Officially endorsed by state government agencies

    Deckee is endorsed and recommended to the boating public by multiple state governments and industry organisations, such as Transport for NSW, Marine Safety Western Australia, Marine and Safety Tasmania, and the Boating Industry Association.

  4. Over 250M+ privacy-approved data points generated

    Deckee’s anonymised and aggregated data unlocks an order of magnitude improvement over current strategies and systems to understand waterway usage. Over half a million new data points are currently generated every day.

  5.  $700K in revenue generated since company inception

    Whilst developing our proprietary technology, we have also been busy validating the commercial potential of our platform, generating revenue from government partnerships, insurance sales and advertising.

  6. Strava Co-Founder on board as Advisor

    Deckee is advised by Mark Gainey, Co-Founder and Chairman of the world's leading fitness activity tracking app with over 100 million members in 195 countries globally.

Core Business Model

Deckee’s business model has three core pillars which are enabled by the free Deckee mobile app: Embedded experiences, marketplace sales, and our innovative analytics products.

Outlined below is a small snapshot of these pillars.

For further detail see section 2.6 of the Offer Document.

Core Business Model

  1. Embedded Experiences

    Despite leisure boating being a huge and growing global industry, there’s over 70,000 marine businesses worldwide that currently do not have effective pathways to engage with boaters on mobile, at the right time and place.

    We enable businesses and organisations to engage with new and existing customers through innovative Embedded Experiences in the app. These experiences can range from public business profiles right through to exclusive information and functionality that is only available to the customer’s of a particular company, such as insurance providers, boat manufacturers, boat rental businesses, or event organisers.

  2. Deckee Marketplace

    With the funds raised from the equity crowdfunding, we will be launching our innovative marketplace to help connect Deckee users with the right products and services for their needs, at the right time.

    As the utility of the Deckee app continues to grow in popularity, we will drive increasing traffic to the marketplace, creating a new customer acquisition channel for brands and sellers through Deckee.

    The initial phase of the marketplace will be focused on facilitating transactions for boat insurance, education courses and safety products. As the Deckee community grows, we’ll start to process an increasing volume of these transactions, and we’ll also start expanding the types of transactions we assist with, to cater for their full boating experience.

  3. Waterway Analytics Products

    Before Deckee, getting data and analytics of this scale and accuracy simply was not possible. Deckee has pioneered the first analytics platform for the waterways, providing unprecedented insights into waterway use around the world.

    Deckee has already generated over 250M+ privacy-approved, anonymized data points on the water, unlocking never before seen insights about how the waterways are being used, which can benefit public safety strategies, infrastructure planning, environmental management, market research, and even fuel the autonomous vessels of the future.

Growth Strategy

Our goal is to build a truly global platform to help the world stay safe and informed on the water. To achieve this mission we have established strategic pillars that will underpin our growth.

Outlined below is a small snapshot of these growth streams, for further detail please see Section 2.7 of the Offer Document.

International Expansion

Deckee’s success in Australia so far is only scratching the surface of our addressable market opportunity globally, and we are now primed to grow our presence overseas with a particular focus on the United States.

Partnerships to unlock distribution and data sources

Since the first release of the Deckee mobile app in 2018 in Australia, Deckee has been adopted as the official and endorsed app by three state governments. These relationships have also been commercial in nature, providing early validation of our platform and solutions to assist public safety on the water.

Activation of the Deckee Marketplace

As we continue striving to ensure boaters are safe and informed on the water through our technology and research and development, access to products and services will be introduced to users through our innovative in-app marketplace, going beyond traditional digital marketing into a world of Embedded Experiences.

Acquisitions

Deckee will continually look for value-accretive acquisition opportunities in the industry that expand our community network and data, or unlock additional revenue streams. We have made our first acquisition of Fishraider.com.au, Australia’s #1 online community of fishing enthusiasts visited by over 850,000 anglers every year.

Lifetime value optimisation

Our product and development is guided by seven key metrics: Leads, Conversion rates, average sales, profit margin, repeat sales, referrals per user, and lifetime of doing business with Deckee. Every strategic step we take is measured on its ability to create value, with each metric multiplying the effects of the others to create exponential growth.

Brand, people & culture

As our business grows, our brand reputation, team and culture underpin the sustainability of our results. Our operations plan ensures we have the right leadership, values and cultural elements in place at every progressing phase of our business growth.

Why Equity Crowdfunding?

We’ve chosen to equity crowdfund because your safety and enjoyment on the water is at the heart of everything we do – it’s our company mission and what drives our team every day. And it is beyond exciting and fitting that the boating community we aim to help with our technology now has the opportunity to share in our commercial success in the future.

By investing and becoming part of the Deckee crew, you’ll gain equity in Australia’s #1 boating app as we start to expand internationally. Plus you’ll gain access to a whole range of other benefits, like being able to vote on our product roadmap, exclusive merch, and discounts on our upcoming marketplace offering.

We would love to welcome you “on board” this journey with us. It’s all hands on Deckee!

Key Team Members

Team Member

Mike Mckiernan

Director & CEO

Mike previously spent ten years immersed in the boating industry working for Australia’s largest marina group. As a founder and entrepreneur, he previously achieved an exit for a boat rental marketplace startup (Boata, acquired by Floatspace). Mike is a strategic planner, futuristic thinker, and a determined leader.

Team Member

Alex Retzlaff

Non-Executive Director

Alex is a Venture Partner at Black Nova. He has over ten years experience as a CTO and nine years as a Founder in B2B SaaS businesses. He is engrained in the startup ecosystem as a mentor, angel investor and a limited partner. His experience lies in targeting operational challenges and crafting a support system that encompasses culture, deal flow, strategy and technology.

Team Member

Chris Deere

Non-Executive Director

Chris is a serial entrepreneur in the telecommunications industry, having founded and exited several businesses over the last 25 years. He previously served as the Chairman and Director of Infrastructure and Strategy at Countrytell, and as Director of NNNco. Chris was formerly the CTO and Deputy CEO of Vocus (ASX: VOC), and also enjoys recreational boating in his spare time.

Team Member

Mark Gainey

Advisor

Mark is the Co-Founder and Chairman at Strava, the world's leading fitness activity tracking app with over 100 million members in 195 countries globally. Strava has also pioneered Metro, which leverages activity data to provide transportation managers and city planners with valuable insights about how people get around their cities.

Team Member

Micheal Pulo

COO

Micheal is a decision maker who thrives on leading teams in difficult collaborative problem solving projects. He is skilled at navigating new ground and problems that “can’t” be solved. Micheal is Safety Investigation Certified, RAAF trained in root cause investigation to NASA standards, and has previously grown a business of his own to 49 staff.

Financial Information

For further detail please see Section 2.13 of the Offer Document.

Use of Funds

For further detail please see Section 3.2 of the Offer Document.

Key Risks

For further detail see Section 2.14 of the Offer Document.

Competition Risk

There are a variety of boating apps available on the market that cater to different user needs and geographies. Deckee has a relatively unique business model compared to others, but could lose market share if more players in the market took the same approach. We’ve reduced this risk by keeping our IP and algorithms private, maintaining our free market positioning, and securing an increasing number of industry partners that build our distribution and defensibility.

Funding Risk

Due to significant and necessary investment made in building our proprietary technology over the past few years, Deckee has relied on external investors and R&D Tax Financing to fund our operations to date. With this foundational work completed our business strategy is now evolving to ensure sustainability, and Deckee intends to use the funds of this capital raise to activate new revenue streams and scale our sales and marketing operations in the US and Australian markets. Should the total amount not be raised, it is likely that Deckee will be unable to generate revenues at the same velocity as it would if it had raised the maximum funding amount.

Key Personnel Risk

Deckee has a number of key team members integral to the running and growth of the business. If one or more of these individuals were to leave the business, failure to replace them adequately may harm company objectives. We have mitigation measures in place for this risk such as an Employee Share Option Plan, and an Operational Excellence methodology that systemises operations so that the business does not totally rely on key people.

Commercialisation Risk

Whilst Deckee has generated a substantial amount of revenues since the company’s inception, we are still in the “early adopter” phase of commercialization due to the innovative nature of our business model, and it is a possibility that the market for our products may not mature on a reasonable time horizon. Our strategy addresses this risk by building multiple pillars of revenue, leveraging easily accepted products as a foundation to introduce our more innovative solutions

Investor Rewards

Tier 1

For investments between: $250 - $1,499

  • Feedback on product roadmap
  • Early access to new features
Tier 2

For investments between: $1,500 - $4,999

  • Feedback on product roadmap
  • Early access to new features
  • Exclusive Deckee Merch including 1x T-shirt
  • 1% cash-back on boat insurance (see Offer Document for conditions)
Tier 3

For investments between: $5,000 - $9,999

  • Feedback on product roadmap
  • Early access to new features
  • Exclusive Deckee Merch including 1x T-shirt & Hoodie
  • 2.5% cash-back on boat insurance (see Offer Document for conditions)
Tier 4

For investments between: $10,000 - $24,999

  • Feedback on product roadmap
  • Early access to new features
  • Exclusive Deckee Merch including 2x T-shirts & Hoodie
  • 5% cash-back on boat insurance (see Offer Document for conditions)
  • Exclusive events with our team and other large investors
Tier 5

For investments above: $25,000

  • Feedback on product roadmap
  • Early access to new features
  • Exclusive Deckee Merch including 2x T-shirts & Hoodie
  • 10% cash-back on boat insurance (see Offer Document for conditions)
  • Exclusive events with our team and other large investors