Graneet thinks construction companies should switch from Excel to its tool – TechCrunch

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 business and the myriad of small and medium corporations on this business particularly.

It needs to construct the definitive monetary administration answer in order that development corporations can higher management their tasks. The overwhelming majority of development corporations nonetheless depend on a number of Excel information, which results in info silos and cumbersome knowledge entry duties.

The mom of Graneet’s co-founder and CEO Jean-Gabriel Niel has been main a development firm. “She would inform me ‘that is loopy, I can’t determine whether or not I’m going to achieve or lose cash for one out of two development tasks,’” he instructed me.

He spent a while this firm’s inner processes — order processing, billing administration, you identify it. And that’s when he realized that Microsoft Excel was nonetheless the main answer.

With Graneet, the corporate thinks it wants to unravel 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 possibly can see how a lot your shopper is meant to pay, how a lot you’ve acquired up to now and what’s subsequent. You’ll be able to see if there are any excellent invoices and mark them as paid.

The corporate then began engaged on quotes and lead technology. Graneet enables you to create quotes instantly from the platform. As soon as the shopper has accepted your quote, you possibly can return when your development mission is properly on its method and enter a proportion of completion — this can be a key metric on this business.

Lastly, with at this time’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 components for a number of contractors.

Graneet shoppers will be capable to invite subcontractors to the platform. They received’t be capable to see every part, however they’ll be capable to see what they’re engaged on. Equally, in case you’re a Graneet shopper and you’re employed for an even bigger firm as a subcontractor, you’ll be capable to ship month-to-month progress experiences. That ought to positively assist in terms of discovering new shoppers for the product.

Later down the highway, Graneet thinks it might additionally supply extra providers to its current prospects. For example, many development corporations work with factoring corporations — these corporations purchase excellent invoices and pay them instantly for money circulation causes. Graneet may additionally present advance funds on the platform instantly.

That’s only one instance of how Graneet might be useful. The thought is that development corporations are at present under-equipped in terms of software program options. If Graneet can show that it might fill that hole, there shall be loads of product alternatives.

Picture Credit: Graneet