Meet Graneet, a French startup that simply raised a $2.8 million seed spherical (€2.4 million) led by Level 9 and Fondamental. Graneet is a vertical software-as-a-service startup targeted on the development trade and the myriad of small and medium firms on this trade particularly.
It needs to construct the definitive monetary administration resolution in order that building firms can higher management their tasks. The overwhelming majority of building firms nonetheless depend on a number of Excel information, which results in info silos and cumbersome knowledge entry duties. Different traders embrace Jack Newton, Renaud Visage, Alexandre Guinefolleau, Arthur Waller, Philippe Gelis and the founders of Colonies.
The mom of Graneet’s co-founder and CEO Jean-Gabriel Niel has been main a building firm. “She would inform me ‘that is loopy, I can’t determine whether or not I’m going to realize or lose cash for one out of two building tasks,’” he advised me.
He spent a while taking a look at this firm’s inside processes — order processing, billing administration, you identify it. And that’s when he realized that Microsoft Excel was nonetheless the main resolution.
With Graneet, the corporate thinks it wants to resolve three basic items — quotes, billing and useful resource planning. The startup first began engaged on billing. Graneet acts as a single supply of reality the place you may see how a lot your shopper is meant to pay, how a lot you’ve acquired to date and what’s subsequent. You may see if there are any excellent invoices and mark them as paid.
The corporate then began engaged on quotes and lead technology. Graneet helps you to create quotes straight from the platform. As soon as the shopper has accepted your quote, you may return when your building venture is nicely on its approach and enter a proportion of completion — this can be a key metric on this trade.
Lastly, with right this moment’s funding spherical, Graneet needs to develop the third a part of its product, which is useful resource planning. Quickly, you’ll be capable to handle subcontractors from Graneet and divide an bill into a number of elements for a number of contractors.
Graneet shoppers will be capable to invite subcontractors to the platform. They received’t be capable to see all the pieces, however they’ll be capable to see what they’re engaged on. Equally, for those who’re a Graneet shopper and you’re employed for a much bigger firm as a subcontractor, you’ll be capable to ship month-to-month progress experiences. That ought to positively assist in the case of discovering new shoppers for the product.
Later down the street, Graneet thinks it may possibly additionally provide extra companies to its current prospects. For example, many building firms work with factoring firms — these firms purchase excellent invoices and pay them straight away for money movement causes. Graneet may additionally present advance funds on the platform straight.
That’s only one instance of how Graneet may very well be useful. The thought is that building firms are presently under-equipped in the case of software program options. If Graneet can show that it may possibly fill that hole, there shall be a number of product alternatives.