Hexa Startup Studio Secures Majority Stake in Veevart: Revolutionizing Vertical SaaS Solutions for Museums
Hexa is making waves in the tech industry with a unique approach to startup development. Instead of nurturing new companies from scratch, this Paris-based startup studio is acquiring a majority stake in Veevart, a leading software-as-a-service (SaaS) provider tailored for museums. Veevart specializes in offering comprehensive solutions for ticketing, fundraising, customer relationship management (CRM), and collection management.
Hexa’s Evolution and Strategy in the French Tech Ecosystem
Founded in 2011 as eFounders, Hexa has established itself as a prominent name in the French tech landscape. The studio is known for generating innovative tech ideas, assembling the right founding teams, and providing essential support in:
- Product design
- Go-to-market strategies
- Hiring processes
- Fundraising efforts
Following this incubation phase, the companies evolve into independent startups, with Hexa retaining a significant stake in their operations. Notable successes from Hexa’s portfolio include well-known names like Front, Aircall, Spendesk, and Swan.
Veevart: A Proven Player in the Museum Sector
Unlike typical startups, Veevart has been in operation since 2014 and currently collaborates with 160 museums and cultural institutions globally. With a team of 70 dedicated professionals, Veevart has achieved profitability, providing a robust all-in-one platform built on Salesforce.
Comprehensive Solutions for Museums
Veevart’s platform enables museums to:
- Create and manage events
- Sell tickets both online and onsite
- Manage memberships
- Automate donor communications
- Integrate with museum shops
This single-platform approach simplifies operations for museums, reducing the complexity of using multiple tools for various tasks.
Founder’s Insight on Salesforce Integration
Veevart’s founder, Antonio Velasco Echeverry, attributes the company’s reliance on Salesforce to his prior professional experience. “I wouldn’t say I ‘chose’ to build on top of Salesforce. It was simply the technology I knew best,” he explained in a recent interview with TechCrunch. He acknowledges that while there are limitations to the platform, its security, scalability, and access to the broader Salesforce ecosystem present significant advantages.
Partnership with Hexa: A Strategic Move
For nearly a decade, Veevart has been self-funded and profitable, albeit not at a remarkable level. When discussions with Hexa began, Velasco Echeverry emphasized the search for a partner to help accelerate revenue growth rather than simply seeking capital.
Hexa’s investment of €5 million ($5.4 million) will solidify its position as the primary shareholder in Veevart. “Our objective is to achieve $20 million in annual recurring revenue and implement best practices across product development, go-to-market strategies, sales, and leadership,” Velasco Echeverry stated.
Hexa’s Unique Position in the Market
Unlike traditional private equity firms, which often shun smaller deals, or venture capital firms that favor high-growth startups, Hexa aims to leverage its operational expertise to elevate Veevart to new heights. This partnership represents a significant opportunity for both entities to align their strengths and drive growth.
To learn more about Hexa and its portfolio, visit Hexa’s official website. For insights into successful SaaS models, check out our article on successful SaaS models.
