Rayyan Systems is raising funds on Wefunder at a valuation of $17.5 million. While the company has developed an innovative artificial intelligence-powered tool for systematic literature review, the valuation seems significantly over-inflated. With only $31,288 in annual revenue and no notable partnerships or investors, the price tag does not align with the company's current traction or financial performance. Investors should exercise caution when considering this investment opportunity, as the current valuation may not be justified by the company's current stage and revenue potential.

The scientific and technical publication market is a significant sector that Rayyan Systems operates in, with a global value of nearly $12 billion. Although the market growth rate is low at 1.54%, the considerable size of the market provides a substantial opportunity for a niche company like Rayyan Systems, which focuses on leveraging artificial intelligence to aid in systematic literature review and data extraction from scientific material.


Rayyan Systems' AI-powered tool streamlines the process of extracting and analyzing data from research articles, a task that is essential in the field of scientific research. Given that there are millions of researchers worldwide, the potential user base for Rayyan Systems is vast. The company already boasts usage by over 300,000 researchers across 180 countries, demonstrating high market acceptance of their offering.


The market landscape is moderately competitive, with direct competitors such as Scite Assistant, Consensus, Elicit, Research Rabbit, and SciSpace, as well as indirect competitors like ChatGPT and ChatPDF. However, the market size and niche focus of Rayyan Systems should allow it to carve out its own space in the market.


There is a low level of market regulation, indicating that Rayyan Systems can operate and expand with fewer bureaucratic hurdles. Also, the company operates a B2B distribution model with a recurring primary revenue model, which can potentially ensure a steady flow of income once contracts are secured with other businesses.


In conclusion, despite the moderate growth rate of the scientific and technical publication market, the niche focus and unique AI-powered offering of Rayyan Systems allow it to tap into a large potential user base. The company's existing success indicates a promising future, given the continued need for efficient data extraction and analysis in scientific research.

Rayyan Systems was founded by CEO Robert Ayan. Ayan has a background in the software industry with relevant industry experience of 3.7 years. He is a first-time founder and has demonstrated strong managerial skills in leading the company.

With a team of 12 members, Rayyan Systems has experienced moderate growth since its last funding round. The team is focused on product development, operations, and sales and marketing to expand the company's reach and impact further. The team espossesses complementary skills that will contribute to the company's success.

Rayyan's focus on systematic literature review and its ability to efficiently extract relevant information from scientific material sets it apart from other competitors in the market. The company's product offering caters specifically to the global scientific and technical publication market, addressing the needs of researchers and scientists in conducting comprehensive literature reviews.

Rayyan Systems faces competition from established solutions such as Scite Assistant, Consensus, Elicit, Research Rabbit, and SciSpace. However, the company's high-quality differentiation level and growing user base indicate that it can compete effectively in this moderately competitive landscape.

While Rayyan Systems does not currently have paying customers, its recurring revenue model suggests that it aims to generate revenue through subscriptions or licensing agreements in the future.

Overall, Rayyan Systems offers a unique solution for systematic literature review and data extraction in the scientific research field. With its AI-powered tool and growing user base, the company has the potential to disrupt and accelerate scientific discovery processes. However, it will need to continue to differentiate itself and effectively market its product to attract paying customers and establish a strong position in the market.

Rayyan Systems, despite being in the early stages of development, has achieved significant traction and user adoption in the scientific research community. Over 300,000 researchers across 180 countries have used the product, and it has been utilized to review over 700 million research articles for data extraction and analysis. While Rayyan Systems has not yet generated revenue or secured paying customers, its user base and usage metrics demonstrate the value and demand for its product.

Rayyan Systems has raised $1,364,650 in prior funding rounds, indicating investor confidence in the company's potential. The current crowdfunding campaign on Wefunder has a valuation of $17.5 million and aims to raise additional funds for hiring, product development, operations, and sales and marketing. These funds will be crucial for the company to continue expanding its user base and enhancing its product offering. 

While Rayyan Systems is still in the pre-revenue stage and has not achieved profitability, its growth in user adoption and the positive feedback from the scientific research community position the company well for future success. With a strong focus on product development and expanding its team, Rayyan Systems has the potential to become a leading provider of research tools in the scientific discovery space. 

Investing in Rayyan Systems carries some risks that prospective investors should know. Firstly, the company is still in the early stages of development and has yet to generate substantial revenue. While it has a large user base of over 300,000 researchers, it remains to be seen how effectively the company can monetize its user base and convert it into revenue. Additionally, Rayyan Systems operates in a moderately competitive market, with several direct competitors offering similar AI-powered tools for scientific research. This competition could potentially limit Rayyan Systems' market share and profitability. Furthermore, the company's financials show a negative net income in recent years, indicating potential financial challenges and a need for significant capital to sustain operations and achieve profitability. Lastly, some investors may consider the valuation of Rayyan Systems overvalued, which could impact the potential return on investment. Overall, while Rayyan Systems has a promising product and a high level of market acceptance, investors should carefully consider the risks associated with its early-stage development, competition, financial performance, and valuation.

Rayyan Systems has developed an impressive AI-powered tool that streamlines the systematic literature review process and accelerates scientific discovery. With over 300,000 researchers from 180 countries already utilizing the platform, it is clear that Rayyan Systems has established a strong user base and is providing value to the global research community.

The tool's ability to efficiently extract relevant information from scientific material and analyze vast research articles sets it apart from traditional literature review methods. By automating and optimizing this process, Rayyan Systems is enabling researchers to save valuable time and resources, ultimately enhancing their productivity and the pace of scientific advancements.

The potential for Rayyan Systems is significant, considering the vast global scientific and technical publication market. With its unique offering and growing user base, the company can capture a significant market share.

While the company is in the pre-revenue stage, the recurring revenue model indicates the potential for steady and consistent revenue growth. As Rayyan Systems continues to enhance its product and expand its reach, it is well-positioned to generate increasing revenue from its user base and attract new customers.

One of the key strengths of Rayyan Systems is its competitive advantage in the moderately competitive landscape. The low barriers to entry in the industry make it crucial for the company to continue innovating and providing value to its users. However, with its established user base, proven technology, and focus on enhancing research efficiency, Rayyan Systems has a solid foundation to maintain its competitive edge.

Rayyan Systems operates in a highly competitive landscape with several direct and indirect competitors. While the company touts its AI-powered tool for systematic literature review and data extraction, it faces competition from established players such as Scite Assistant, Consensus, Elicit, Research Rabbit, and SciSpace. Additionally, indirect competitors in ChatGPT and ChatPDF offer alternative solutions for extracting knowledge from research material.

Furthermore, despite being used by over 300,000 researchers across 180 countries, Rayyan Systems has generated only $31,288 in annual revenue. This stagnant revenue growth since the last funding round raises doubts about the company's ability to monetize its user base and drive significant sales effectively.

Moreover, Rayyan Systems has been operating at a significant loss, with a net income of -$621,924 in the most recent fiscal year. This negative financial performance raises concerns about the company's ability to achieve profitability and generate sustainable, positive cash flows. Additionally, the company's monthly burn rate of $51,827 further highlights its financial challenges.

While the company presents an innovative solution for the scientific research community, its current financial performance, competitive landscape, and lack of significant revenue growth raise concerns about its long-term viability and ability to deliver substantial returns for investors.

Rayyan Systems provides an artificial intelligence-powered tool that assists in systematic literature review, efficiently extracting relevant information from scientific material. This tool accelerates scientific discovery by making reviewing and analyzing research articles more efficient and effective.


Over 300,000 researchers across 180 countries are already using Rayyan Systems to conduct research, and it has been used to review over 700 million research articles to extract and analyze data. Despite this, the company is currently pre-revenue and has not demonstrated significant revenue growth since the last round of funding. The company is also operating in a moderately competitive market, facing direct competition from other AI tools like Scite Assistant, Consensus, Elicit, Research Rabbit, and SciSpace.


While the company's technology is promising and has the potential to revolutionize the research process, it is currently overvalued with a valuation of $17.5 million. The company is also burning through cash at a significant rate, with a monthly burn of $51,827. The proceeds from the current crowdfunding campaign, which has a minimum target of $50,000 and a maximum target of $535,000, will be used for hiring, product development, operations, and sales and marketing.


While Rayyan Systems has the potential to make a significant impact in the research community, the company's current financial situation and competitive landscape may present challenges. Investors should consider these factors when evaluating the potential for return on investment.