HAVAÍC adds RNR to its 19-strong tech portfolio
HAVAÍC has led an R10 million investment round in RNR (Right Now Response). The VC firm’s R9.2 million investment makes up the lion’s share of the round in partnership with Capacitech.
RNR is an on-demand breakdown management and analytics platform. Using technology to match supply with demand, the company provides truck fleet managers and truck OEMs (Original Equipment Manufacturers) with breakdown support via its nationwide network of vetted mechanics, electricians, and repair centres.
By mobilising its closest subcontractor, RNR not only vastly improves response times but also completes 70% of repairs on the roadside, which avoids expensive towing and freight delays. The app and web portal offer clients 24/7 breakdown visibility, including live location tracing and tracking from acceptance to roadside and workshop repair. Since its launch in 2019, RNR has supported more than 25,000 breakdowns for close to 1,200 transporters.
Acting as the company’s first institutional investor, HAVAÍC is expected to play a key strategic role – supporting accomplished co-founders Wayne and Michelle Witherspoon to optimise RNR’s growth. Over the coming five years, the company is set to expand its footprint across South Africa and grow into other parts of the continent.
“RNR perfectly aligns with our investment thesis to back early-stage companies that solve real-world problems through technology,” said Kiara Suttner-Tromp, Principal at HAVAÍC. “HAVAÍC has a strong track record of helping industry aggregators like RNR develop and scale. We are very energised by our partnership with Wayne and his team and look forward to capitalising on ample opportunities in the sector to unlock significant value for RNR.”
“We cannot be more excited to partner with HAVAÍC,” said CEO Wayne Witherspoon. “We are in hugely capable hands and look forward to bringing our technology to the rest of Africa. As fleet owners ourselves, we look forward to driving innovation in the sector by helping others curb unwelcome expenses and delays. What’s more, our model brings more business to our subcontractors nationwide, particularly those in rural areas.”
The announcement follows HAVAÍC’s recent investments in RapidDeploy, FinAccess, ShopEx, and Talk360. The VC firm now serves a combined 18.5 million customers in over 180 countries worldwide via its 19-strong portfolio of early-stage, high-potential tech companies. To date, HAVAÍC has achieved four international exits, delivering annualised returns far exceeding its 30% target.
Visit RNR at https://rightnowresponse.com/.