Introduction to Hexa and Veevart

Hexa is a startup studio that originally started as eFounders in 2011. The company is known for coming up with ideas for new tech companies, finding the right founding team, and helping them with product design, go-to-market strategy, hiring, and fundraising. Some successful Hexa portfolio companies include Front, Aircall, Spendesk, and Swan.

Veevart, on the other hand, is a vertical software-as-a-service company for museums that provides solutions for ticketing, fundraising, CRM, and collection management. The company was founded in 2014 and now works with 160 museums and cultural institutions of all sizes around the world. With its team of 70 people, Veevart is already profitable.

The Acquisition

Hexa has acquired a majority stake in Veevart, investing €5 million to become the main shareholder in the company. The acquisition is part of Hexa's strategy to elevate Veevart to the next level by providing operational expertise to accelerate the company's growth.

Veevart's founder, Antonio Velasco Echeverry, stated that the company was not looking for money but a partner that could help them achieve their revenue targets faster and with less pain. Hexa's investment will help Veevart implement best practices around product, go-to-market, sales, and leadership.

Veevart's Product and Technology

Veevart's product has been designed as an all-in-one platform for museums, built on top of Salesforce. Museums that use Veevart can create and manage events, sell tickets online and onsite, manage memberships, automate communications to donors! and integrate with the museum shop. Many museums use multiple tools for all those tasks, but having a single platform makes it easier to manage and maintain over time.

The reason why Veevart relies heavily on Salesforce comes down to Veevart's founder Antonio Velasco Echeverry, who earlier in his career worked with Accenture and Salesforce. He stated that building on top of Salesforce has some advantages, such as security, scalability, and access to the entire Salesforce ecosystem.

NEWS FACTORY

Technology