Rayda: Solving the Asset Management Gap for Modern Workforces
From a frustrating experience shipping a laptop across borders, Francis Osifo co-founded Rayda—an IT operations platform that helps companies manage devices throughout their lifecycle.
The Genesis of an Idea
Osifo’s initial exposure to the problem came while CTO at 54gene. When trying to ship a device to Kenya, he faced customs delays and paperwork headaches—a microcosm of larger asset management challenges many growing businesses share.
“I kept going down this rabbit hole realizing how fragmented IT asset tracking was,” Osifo explained in an interview with TechCabal. “Whether it’s knowing what devices employees have, tracking depreciation, or handling the entire process from onboarding to offboarding.”
From Spreadsheet Replacement to Integrated Platform
Rayda launched in January 2023 with a simple mission: replace asset tracking spreadsheets with a centralized digital solution. The startup quickly realized that many businesses lacked even basic records—forcing Rayda staff to physically audit offices before onboarding new clients.
But customer feedback pushed the platform beyond its initial scope. Today, Rayda offers:
- Rayda Core: Centralized asset management
- Bidda: Auctioning for unwanted equipment
- Rayda Track: Device monitoring and analytics
- Rayda Remote: Procurement solutions for distributed teams
Strategic Funding Approach
Osifo deliberately kept Rayda’s first funding round modest—raising $300,000+ against a target of $250,000. This approach allowed the company to solve real problems without being steered by excess capital.
“When you raise money in your business journey is as important as how much you raise,” Osifo noted. “It affects what problems feel worth solving and how you prioritize solutions.”
With a growing team and expanding feature set, Rayda continues to evolve into an IT command center for companies managing globally distributed workforces.