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We were living aboard our sailboat "Shindyah" on the Chesapeake Bay in Maryland, loving salt life and adapting to the small, outdoor-oriented lifestyle. During our time aboard, Wolfie began having some breathing issues, and we discovered that black mold had taken root beneath the mattress in the aft cabin of the boat! We didn't understand how it got and stayed wet under there. After some research, it turned out we weren't alone! Bedding condensation was a serious issue aboard boats.
It's a common, subtle, and dangerous problem. We didn't realize at the time how just widespread it was.
We looked for products and found nothing really suitable. There was nothing on the market that would elevate the mattress above the cold platform and condensation that formed there and provide airflow to dry the area. We weren't satisfied with the common wisdom, "prop it up on a bucket every day and let it air out."
In 2017, Ravenwolf Marine was founded, almost by accident, trying to solve the problem just for ourselves. After considerable materials research and some trial-and-error testing, we invented the solution we called Den-Dry®. We arranged for a single 100' spool to be made and hoped and prayed we'd be able to sell it.
Den-Dry® — our innovative and trademarked mattress underlayment is specifically designed to combat condensation challenges in outdoor living spaces. Constructed from high-quality spun recycled polypropylene, Den-Dry offers a dual-action solution:
Here's where that "we didn't know how widespread the problem was" comes in. Ravenwolf Marine was formed when we thought we were solving a problem only boaters had. We were so wrong. When we put our product up on Amazon in 2018, we were astonished to discover that more than 80% of our sales were to RVs!
Nearly 90% of RV owners take their vehicles out at least three times a year. That's 24 million RV trips every year—24 million chances for people to discover the creeping yuck under their mattress. And that doesn't even include the boating community, which Den-Dry was originally invented for.
We've sold 20,000+ units into this market, proving that our price point and market make sense. We've done this with zero direct advertising and very little on-platform (Amazon ads).
We divide the eras or versions of Ravenwolf by where we were, primarily dictated by volume. At sea, while we were living aboard Shindyah, we did our manufacturing and fulfillment in a shared loft at the marina and then in a cargo trailer we bought for the purpose. That was Ravenwolf at sea or 1.0. Then, outgrowing that, we moved into Wolfie's large garage. We joked that we "needed a bigger boat," but there was no longer any boat about it. The garage era was Ravenwolf 2.0 Then, outgrowing even that space, we moved into our present location, a large industrial bay.
Everybody has a chart showing a curve going up and to the right. It's so overused that it is meaningless. So, we thought we'd use photographs and actual performance numbers to make our growth more concrete.
We could make ten queen-sized underlays when we did our first proof-of-concept run. We sold them on our website and directly to local boaters. That was in 2017. We continued in 2018, working strictly with the marine community and selling 119 units for $3k. It was a side hustle, with both of us still working our full-time jobs. In 2019, the product began to take off on Amazon—585 units for $55K. We couldn't keep up with a cargo trailer and part-time. That was the end of the "Ravenwolf At Sea" era.
In 2020 and 2021, sales exploded. We continued operating out of the garage, selling 8,290 units for $884k. All of this was bootstrapped on personal income and family credit, and then it started running on its cash flow. We made daily runs to the post office with two full pallets of outbound orders at the end of the garage "Need a bigger boat" Ravenwolf 2.0 era.
We couldn't keep up. The garage was packed to the gills, and it wasn't reachable by the tractor-trailers we needed for larger orders of raw materials. We had to go all in. We found a suitable industrial bay in Culpeper, VA. This is our current era, Ravenwolf 3.0. In 2022 and 2023, we shipped 10,940 units, at $1.34M. All on bootstrap and credit, with no external capital input at all.
Another part of our traction involves our channels. We were initially just on our website, then added Amazon. Today, we're also available on Amazon Canada, Walmart, and, importantly, Camping World and Overton's websites.
Camping World has contacted us to ask if we can support the quantities needed for in-store sales. With 212 locations in the US, it's a tremendous opportunity to help more people sleep dry. That's a big reason we're doing this funding round.
Our sales numbers are just one piece of our success. We have 1,397 reviews of our product, a review rate of more than 7% (average is 1-2%), and a 4.7/5.0-star rating on Amazon. A few excerpts are included in the slide below.
Ravenwolf Marine began as a small family business without any grand ambitions. Initially, we just wanted to share our solution to bunk funk, but Den-Dry quickly gained traction, and we've now sold over 20,000 of them. Throughout this journey, we've held onto our family-run values and commitment to personalized, high-touch customer service. As the founders, we pride ourselves on maintaining these small business sensibilities as we grow.
Laura Ann "Wolfie" Kelley (neé Via) is our CEO, drawing on extensive experience in SEO, digital media, and creative content management. Her tenure at Gannett (USA Today) included leading major digital overhauls and improving media assets such as the Hurricane Hub app and the 'Policing the USA' blog redesign. At Ravenwolf, Laura's innovative approach and personal touch have greatly enhanced our customer loyalty and word-of-mouth reputation. She is certified in digital media and SEO.
William "Bill" Kelley (neé Maness) officially serves as the secretary/treasurer, but his key responsibilities include business management, product development, and production management. He holds a business degree and is a patented inventor. Bill is a seasoned entrepreneur, having founded his eighth company, Ravenwolf, in a career spanning over 40 years. He has achieved two successful exits from previous ventures.
Brittany Napier handles office management tasks and bookkeeping. She is also our fulfillment coordinator, ensuring all the packages get to the right people on the right trucks.
Melissa "Missy" Hayes is the other half of the dynamic duo that is Ravenwolf's marketing team. MissyMu and Laura collaborate on creatives, social media, and other customer outreach efforts.
Brad Riddle is our production manager. His duties include inventory management, production scheduling, and production facilities management.
Lester Claiborne Via, Jr. was an early supporter and helped with production engineering before his passing in 2022. We wouldn't be where we are today without his help.
Skadi, our faithful husky, serves as our mascot, desk inspector, and cookie disposal unit.
We also have several contractors who help with production pushes, facilities maintenance, and other non-full-time duties.
We aim to raise between $100 and $250K to supercharge our growth. Right now, we've been hustling with bootstrapping and tight finances, but we've hit a wall. At the lower end of our funding goal, we'll use most of it to clear existing high-interest financing, freeing up cash flow for steady but modest growth. But here's the thing: to really take off and support in-store volumes, we need to start buying raw materials in full truckloads. Bootstrapping just won't cut it for that scale. So, with this funding, we'll not only level up our current game but also set ourselves up to seize the big opportunities and expand like crazy.
We’re opening this $250K investment opportunity, inviting you to be part of a journey characterized by growth, community support, and legacy-building. Your investment in Ravenwolf isn't just a financial decision; it's a commitment to supporting a brand that helps people live healthier lives. Although the future is uncertain, our dedication to Den-Dry has already been proven, and we have invested 6 years of our lives in it. We're setting the valuation cap at $1.5M. We think this is a fair valuation based on single-year sales of $771K, EBITDA of $167K, and our proven traction.
Two firms have already approached us about acquiring the Den-Dry brand. However, we're too small and don't have enough traction to close a deal with them. We must take Den-Dry to the next level before we can have a worthwhile exit. We intend to sell the company to a bedding manufacturer or an outdoor living retail chain in the next 2-3 years, doubling to tripling our current sales and selling the company for $3-5M.
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