GenieBelt, the collaboration platform tailored specifically to construction, has just today announced a new Angel round led by Klaus Nyengaard, European Angel investor and former CEO of Just Eat, and further contributed to by Ditlev Bredahl, CEO of OnApp. Based in Copenhagen, GenieBelt’s construction collaboration platform aids the industry in finishing on time and to budget.
So what has CEO and cofounder Gari Nickson got planned for the new finances?
“This funding round will help us make GenieBelt accessible to construction projects globally. With a strong team already in place, the additional resources will be used to improve existing modules, scale to all platforms, develop additional features and to take on more of the value chain.” said Nickson.
Klaus Nyengaard, who is also a co-founder of GenieBelt and acts as an active chairman on the board, had this to say:
“Construction is one of the last remaining ‘old’ industries waiting to be disrupted. It’s one of those industries never touched by the desktop revolution and now with the increasing penetration of mobile and tablets we are seeing the construction site being connected like never before. I am really excited to be a part of this journey. We have a strong team at GenieBelt, with a unique mix of industry and startup experience. We also have a very international team and a will to build a great company.”
Founded in August 2013, the Copenhagen-based, 15-man-strong GenieBelt enables small & medium construction businesses to project, manage and collaborate based on industry specific workflows. The firm has reached over 2000 users since it’s public launch in November 2014 with users in over 100 Countries. Construction represents 8-10% of GDP for developed Countries: GenieBelt focus on the SME market which accumulates three quarters of this industry.
Advantages experience by GenieBelt users are twofold. One: users only need to have an internet connection to gain access to their projects and collaborate. Two: by using a platform specifically designed for construction, the workflows in place help users reduce wastage, administrative work and expensive litigation claims, thus enhancing collaboration and transparency.
About the Investors
Klaus Nyengaard is on quite an investment roll: his leadership and finances are involved in many high growth startups across Europe including Wahanda, Sekoia Assisted Living, The Cloackroom, PlanDay, ChurchDesk, Shipbeat and Tradano. With his expertise (as CEO of Just Eat, Klaus scaled the company from 40 employees to 1000 in just five years), coupled with Nickson (whose background extends from work in construction, within consulting firms Aecom and Cowi), it is only up from here for GenieBelt.