Sixxy He tries something new. Instead of promoting newly established businesses from ground and incubation for the first year, the Paris -based Studio Startup acquires the majority of shares MucousA vertical software-as-service museum company that provides tickets, capital gathering, CRM and collection management.
Hexa is a well -known name in the French technological ecosystem. The start studio initially started its life in 2011 as Efounders and regularly comes with ideas for new technology companies. He is trying to find the right founding team and helps them with product design, market strategy, hiring and raising capital.
After this first phase, companies become appropriate, independent newly established businesses, but Hexa maintains a significant share on the table. Some successful Hexa portfolio companies include Front; Air coverage; Expenditure and Swan.
But Veevart is not a new start. Founded in 2014 and now collaborates with 160 museums and cultural institutions of all sizes around the world. With the 70 -person group, Veevart is already profitable.
The product is designed as a all-in-one platform for museums, built over salesforce. Museums that use Veevart can create and manage events, sell online and on -site tickets, manage entries, automate communications on donors and integrate into the museum store.
Many museums use multiple tools for all these tasks. Ownership of a single platform facilitates management and maintenance over time.
The reason that Veevart is largely based on Salesforce is reduced to the founder of Veevart Antonio Velasco Echeverry – earlier in his career, he had worked with Accenture and SalesForce.
“I wouldn’t say that I chose to build over Salesforce. People often assume that these decisions are deliberate, but sincerely, luck plays a big role. We didn’t choose Salesforce – it was just the technology I knew best,” Velasco Echeverry told Techcrunch.
Despite the platform’s limitations, he added that the building at the top of Salesforce has some advantages such as safety, scalability and access to the entire salesforce ecosystem.
Veevart has been launched for the last decade and was profitable for a while – “It is not incredibly profitable, but profitable,” Velasco Echeverry said.
“So when we started talks with Hexa, it didn’t look too much for money, but more about a partner who could help us get to our revenue goals faster and with less pain,” he added.
With this investment, Hexa acts as a kind of practical partner of private shares. The Startup Studio invests € 5 million ($ 5.4 million in current exchange rates) to become Veevart’s main shareholder.
“Our goal is that Hexa can help us achieve $ 20 million [annual recurring revenue]Apply optimal practices around the product, [go-to-market]Sales and leadership, “said Velasco Echeverry.
Private stock companies usually do not participate in small agreements like this, while VC companies usually look for companies with high growth capabilities. But Hexa believes that it can lift Veevart to the next level by providing business expertise to accelerate the company’s growth.
