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Hexais prove something Modern . rather of fostering startups from the ground up and incubating them for the first twelvemonth or so , the Paris - base inauguration studio apartment is acquire a absolute majority stake inVeevart , a vertical computer software - as - a - service party for museum that provides solutions for ticketing , fundraising , CRM , and collection direction .
Hexa is a intimate name in the Gallic tech ecosystem . The startup studio in the first place start up its life history in 2011 as eFounders and regularly comes up with theme for unexampled tech company . It examine to incur the right founding squad and help them with product design , go - to - food market scheme , hiring , and fundraising .
After this first phase , the company become proper , independent startups , but Hexa keeps a significant stake on the cap table . Some successful Hexa portfolio companies includeFront , Aircall , Spendesk , andSwan .
But Veevart is n’t a new startup . It was found in 2014 and now works with 160 museum and cultural founding of all size around the globe . With its team of 70 hoi polloi , Veevart is already profitable .
The product has been design as an all - in - one platform for museums , build on top of Salesforce . museum that utilise Veevart can make and manage event , sell tickets online and on - land site , manage membership , automate communications to donors and incorporate with the museum shop .
Many museums expend multiple tools for all those task . make a single platform makes it easier to handle and exert over prison term .
The reason why Veevart rely heavy on Salesforce issue forth down to Veevart ’s founding father , Antonio Velasco Echeverry — sooner in his vocation , he had worked with Accenture and Salesforce .
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“ I would n’t say I ‘ choose ’ to build up on top of Salesforce . the great unwashed often assume these decisions are intentional , but honestly , luck play a handsome part . We did n’t opt Salesforce — it was only the engineering I bang best , ” Velasco Echeverry told TechCrunch .
Despite some weapons platform limit , he lend that construction on top of Salesforce has some advantages such as security , scalability , and access to the entire Salesforce ecosystem .
Veevart has bootstrapped itself for the preceding decade and has been profitable for a while — “ not incredibly profitable , but profitable , ” Velasco Echeverry said .
“ So when we set out conversations with Hexa , we were not bet too much for money , but more for a partner that could assist us get to our revenue target faster and with less pain in the neck , ” he added .
With this investment , Hexa act as a sort of hand - on private fairness spouse . The inauguration studio apartment is investing € 5 million ( $ 5.4 million at current exchange rate ) to become the main shareowner in Veevart .
“ Our aim is that Hexa can help us reach $ 20 million in [ one-year repeat revenue ] , implement good pattern around product , [ go - to - market ] , sales , and leadership , ” Velasco Echeverry said .
secret fairness firms typically do not plight in modest deals like this , while VC house typically attempt companies with mellow increment potency . But Hexa believe it can lift Veevart to the next grade by put up operational expertness to speed the fellowship ’s increase .
