Meet Graneet, a French startup that just raised a $2.8 million seed round (€2.4 million) led by Point Nine and Fondamental. Graneet is a vertical software-as-a-service startup focused on the construction industry and the myriad of small and medium companies in this industry specifically.

It wants to build the definitive financial management solution so that construction companies can better control their projects. The vast majority of construction companies still rely on multiple Excel files, which leads to information silos and cumbersome data entry tasks. Other investors include Jack Newton, Renaud Visage, Alexandre Guinefolleau, Arthur Waller, Philippe Gelis and the founders of Colonies.

The mother of Graneet’s co-founder and CEO Jean-Gabriel Niel has been leading a construction company. “She would tell me ‘this is crazy, I can’t figure out whether I’m going to gain or lose money for one out of two construction projects,’” he told me.

He spent some time looking at this company’s internal processes — order processing, billing management, you name it. And that’s when he realized that Microsoft Excel was still the leading solution.

With Graneet, the company thinks it needs to solve three basic things — quotes, billing and resource planning. The startup first started working on billing. Graneet acts as a single source of truth where you can see how much your client is supposed to pay, how much you’ve received so far and what’s next. You can see if there are any outstanding invoices and mark them as paid.

The company then started working on quotes and lead generation. Graneet lets you create quotes directly from the platform. Once the client has approved your quote, you can go back when your construction project is well on its way and enter a percentage of completion — this is a key metric in this industry.

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