French startup Graneet is constructing an all-in-one software-as-a-service product centered on small building firms. And it has grown quite a bit since I first lined 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 right this moment’s alternate charge) with its two essential traders main the spherical as soon as once more — Level 9 and Foundamental. Actually, 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 superb observe file with regards to B2B SaaS investments.
Axeleo Capital, RAISE Sherpas’ philanthropic car Phiture, and a number of 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 trade particularly. As a result of founder’s background, Graneet is specializing in building firms.
And that’s an attention-grabbing selection as there’s an extended tail of small building firms that don’t essentially have the proper instruments to trace their initiatives, create quotes, handle workforce members and deal with the connection with subcontractors. So Graneet is constructing a type of mini ERP for building SMBs. Massive building firms aren’t going to modify to Graneet, however it doesn’t make sense to make use of a full-fledged ERP in case you are simply working a small firm.
As building work normally takes a number of months, it may be arduous to trace margins at any cut-off date. Shoppers pay in a number of tranches and building firms steadily spend cash. Having a copilot like Graneet can enhance the planning technique of building firms.
“Now we have been iterating over the previous 2 years with our purchasers and prospects to construct a strong, but very simple-to-use resolution. 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 clients higher and higher with extra potentialities inside our product,” co-founder and CEO Jean-Gabriel Niel mentioned in an announcement.
Along with buying extra clients, there’s an extended roadmap forward for Graneet. As soon as the platform is actively utilized by a bunch of building firms, Graneet can supply extra companies, comparable to monetary merchandise or deep integrations with third-party companies. In different phrases, the startup has a shot at digitizing and trade that would profit from trendy software program instruments.