Graneet raises $8.7 million for its vertical SaaS for building corporations

French startup Graneet is constructing an all-in-one software-as-a-service product targeted on small building corporations. And it has grown rather a lot 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 Sequence A spherical ($8.7 million at in the present day’s trade fee) with its two fundamental buyers main the spherical as soon as once more — Point Nine and Foundamental. In truth, Graneet tells me that that is Level 9’s first lead funding in a Sequence A spherical. That is an fascinating information level as Level 9 has track record 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 business specifically. As a result of founder’s background, Graneet is specializing in building corporations.

And that’s an fascinating selection as there’s an extended tail of small building corporations 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 corporations aren’t going to change to Graneet, but it surely 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 laborious to trace margins at any cut-off date. Shoppers pay in a number of tranches and building corporations progressively spend cash. Having a copilot like Graneet can enhance the planning technique of building corporations.

“We have now been iterating over the previous 2 years with our purchasers 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 prospects inside our product,” co-founder and CEO Jean-Gabriel Niel mentioned in a press release.

Along with buying extra prospects, there’s an extended roadmap forward for Graneet. As soon as the platform is actively utilized by a bunch of building corporations, Graneet can provide further companies, reminiscent of monetary merchandise or deep integrations with third-party companies. In different phrases, the startup has a shot at digitizing and business that might profit from trendy software program instruments.