Graneet, the software for SMEs in the construction industry, strengthens with 8M€ from its historical investors

The construction sector is the penultimate of the digital1 class. Graneet participates in the strong catch-up trend in the sector by giving SMEs access to business management solutions that were previously only available to large companies. The startup has the ambition to build an ERP for construction SMEs which represent more than 90% of the industry2.

Founded in 2020, Graneet announces today that its historical investors have renewed their support by leading its €8M funding round, only 1.5 years after leading its €2.4M seed round. The Construction Tech specialized fund Axeleo Capital as well as 3 renowned operators (Rodolphe Ardant, CEO & Co-Founder of Spendesk, Nicolas Dessaigne, Co-Founder ofAlgol, JC Taunay-Bucalo, CRO of Travel Perk) also invest in fundraising. RAISE Sherpas via its philanthropic vehicle, Phitture, also participates in this round.

Graneet raises €8m from its historical investors, Point Nine Capital et Fundamental.
The startup's ambition is to become the destination platform to allow any construction SME to manage its entire business.
This new fundraising will allow the team to continue to build their management solution for SMEs, to win more and more customers and to begin its internationalization process.

More and more industries have recently seen the emergence of “vertical” SaaS software companies, with great successes such as Toast in the restoration, ServiceTitan in the maintenance, Veeva in the pharma or Procore in the construction. These players address a specific industry much better than their generalist competitors by focusing on the specificities of this industry, particularly in terms of process. They have demonstrated the relevance of their model by being able to add a large number of additional services to their software, in particular financial services for their customers.

The construction industry has had to face many difficulties in recent years which have handicapped its development: the war in Ukraine came on top of the rise in raw material prices which had followed the COVID crisis. The margins of the sector were very impacted when a need to increase productivity was already necessary³.

Graneet seeks to address this problem: the startup is building a mini ERP that construction SMEs use to manage all their activity and to monitor their margins in real time, a type of solution that was previously only accessible to large companies.

During this difficult period for the financing of startups, Graneet maintains a pragmatic approach to solving the challenges of one of the oldest industries: taking the time necessary to fully understand the needs of customers and build the right solution with them. The team says this is the main reason behind the company's explosive growth over the past 12 months. With more than 15% monthly growth, Graneet now serves several hundred customers.

Jean-Gabriel Niel, President and Co-Founder, explains: “We have iterated over the last two years with our customers and prospects and co-constructed with them a powerful but extremely easy-to-use solution. Graneet demonstrated that its product was mature enough to be able to accelerate its marketing, while maintaining high quality support for our customers. This round table will give us the means to deliver the many elements of our strategic plan and the opportunities for additional services that our product opens up. We are also delighted to have the confidence of 3 major operators such as Rodolphe, Nicolas and JC, whose respective experiences will be a great asset for Graneet and its future development.”

The team explains that the funds will be used to strengthen its position and structure its marketing in order to become a benchmark player on the French market before opening a first international market. Graneet is implementing a “platform” strategy whose software is only the first brick of the ecosystem that the startup seeks to create: this fundraising will also be used to integrate and connect other services, especially finance and accounting.

Louis Coppey: “Since the start of Point Nine 10 years ago, we have supported and worked with many vertical SaaS solutions such as Clio, Jobber, Nexhealth or more recently Amenitiz. Several of them have now become leaders in their category. Less than two years after leading the seed round of Graneet, we are delighted to strengthen our partnership with this team in their mission to digitize construction, starting with SMEs. There is so much to do!”

Patrick Hellermann: “Small and medium-sized businesses make up the bulk of the construction and renovation industry. Graneet gives them financial superpowers: better quotes, getting paid faster and more control over their margins.”

1 - https://www.mckinsey.com/capabilities/operations/our-insights/imagining-constructions-digital-future

2 - https://www.ffbatiment.fr/le-batiment-en-chiffres

3 - https://www.mckinsey.com/capabilities/operations/our-insights/improving-construction-productivity