French startup Graneet is constructing an all-in-one software-as-a-service product targeted on small building firms. And it has grown rather a lot since I first covered the corporate as the corporate has tripled its income over the previous six months.
That’s why the startup raised a €8 million Collection A spherical ($8.7 million at at the moment’s change fee) with its two most important buyers main the spherical as soon as once more — Point Nine and Foundamental. The truth is, Graneet tells me that that is Level 9’s first lead funding in a Collection A spherical. That is an attention-grabbing knowledge level as Level 9 has a very good track record with regards to B2B SaaS investments.
Axeleo Capital, RAISE Sherpas’ philanthropic automobile Phiture, and several other enterprise angels are additionally investing in Graneet, together with Rodolphe Ardant from Spendesk, Nicolas Dessaigne who co-founded Algolia and JC Taunay-Bucalo at TravelPerk.
Graneet is a vertical SaaS, that means that the startup is constructing a product that’s particularly designed to deal with the wants of an business particularly. Because of the founder’s background, Graneet is specializing in building firms.
And that’s an attention-grabbing selection as there’s a protracted tail of small building firms that don’t essentially have the precise instruments to trace their initiatives, create quotes, handle crew members and deal with the connection with subcontractors. So Graneet is constructing a kind of mini ERP for building SMBs. Large building firms aren’t going to change to Graneet, but it surely doesn’t make sense to make use of a full-fledged ERP if you’re simply operating a small firm.
As building work normally takes a number of months, it may be laborious to trace margins at any cut-off date. Purchasers pay in a number of tranches and building firms progressively spend cash. Having a copilot like Graneet can enhance the planning technique of building firms.
“We now have been iterating over the previous 2 years with our shoppers and prospects to construct a strong, but very simple-to-use answer. Graneet has now confirmed to be mature sufficient as a product to have the ability to speed up its buyer acquisition whereas we maintain serving our prospects higher and higher with extra potentialities inside our product,” co-founder and CEO Jean-Gabriel Niel mentioned in a press release.
Along with buying extra prospects, there’s a protracted roadmap forward for Graneet. As soon as the platform is actively utilized by a bunch of building firms, Graneet can supply extra providers, corresponding to monetary merchandise or deep integrations with third-party providers. In different phrases, the startup has a shot at digitizing and business that would profit from trendy software program instruments.
Picture Credit: Graneet
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