The business is to collect and analyze threats in different parts of the world and distribute threat- and risk intelligence through the web-based platform Risk Intelligence System.
-We can, for example, look at a threat from a specific organization or geographical area. Based on the threat, we make an assessment of the customer's vulnerability, like if you have ships sailing in the area and how you can reduce the risk, Hans Tino Hansen, CEO of Risk Intelligence explains.
With the help of the company's analyses, customers can weigh security risks when planning their business because their fleet tracking is integrated into the Risk Intelligence System.
- For example, a security manager can access his phone when he or she is at the airport, find out about updated threats and see where the company's ship is located.
The Risk Intelligence System includes MaRisk (maritime safety), PortRisk (security for ports, channels and offshore terminals) and LandRisk (security for land transport). The business model is based on a 12-month subscription with automatic renewal.
- Our customers buy a license and pay for twelve months in advance. The renewal rate is between 98 and 100% every year, ie a low churn of 0–2%, says Hans Tino Hansen.
With offices and in-house staff in Copenhagen, North America and Singapore, the company can receive and analyze reports around the clock. The information comes from a large network of sources - individuals, companies and organizations.
- Our customers operate 14.7% of the international world fleet. This means that we have more than 8,000 ships worldwide that report to us directly or indirectly. Something all our sources have in common is that we do not pay them, but it is an exchange of information based on common interest, says Hans Tino Hansen.
- The key to success is not our digital platform, but our source network, our database, our analysis system and our knowledge. The digital platform, on the other hand, makes our product fully scalable, he continues.
In addition to shipping companies in international traffic, customers include all major Western oil companies, insurance companies, military and security organizations in dozens of states, including the US.
- We have some competitors with similar risk monitoring solutions, especially in the maritime area, but no one else can offer all of coastal, sea and port areas, as well as risks on land in the same system. That is our strength, says Hans Tino Hansen.
Risk Intelligence became listed on Spotlight Stock Market in 2018. Before that, the company's growth had been self-financed.
- We wanted to raise the level of ambition and develop the company. To raise capital, we chose to go to the stock market. In addition, an IPO is an important step in the professionalization of the company, Hans Tino Hansen says.
In connection with the listing, Risk Intelligence set a number of goals; they would build an organization that is ready for growth, open offices in Asia, double its maritime turnover and enter the land transport market, which is 20 times larger than the maritime market.
Today, despite the fact that 2020 has been a very special year, the company has basically delivered on all they set out to.
- We started to notice the effects of Covid-19 in February already and we still have customers around the world that are closed, but the business has started again. Sales fell during the second quarter, but we still expect a positive EBITDA in 2020. We lost one or two quarters as a result of Covid-19, especially in LandRisk, but in 2021 we intend to have doubled sales in the maritime sector. area, Hans Tino Hansen sums up.
- Started in: 2001
- Operations: Delivering threat and risk notifications for safety at sea, in ports and canals, on offshore terminals and for land transport through a web-based subscription.
- CEO and founder: Hans Tino Hansen.
- Revenue: DKK 14 million (2019). ARR (Q4 2019) DKK 10,9 million
- Employees: 26 full time and some permanent that works part time
- Stock listing: 2018