Paris-Based Kraaft Secure €13M for its “WhatsApp for Construction”

Good communication forms the foundation of a successful construction project. In the construction sector, fragmented channels of communication are a problem, which results in inefficiencies and delays in completing projects. Kraaft is such a specialized messaging platform for the construction teams designed to address specific needs. A recent €13 million funding round has confirmed this potential of changing industry communication.

Company Overview

Kraaft was founded in 2019. It creates a user-friendly messaging application to be integrated seamlessly into the workflow of construction professionals. The user can create project-specific discussion groups, where he can share pictures, documents, and real-time updates. The centralization of communication through Kraaft enhances collaboration and reduces miscommunication on-site.

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Funding Details

The €13 million funding round is a significant landmark for Kraaft. Although investors in this round have not been publicly disclosed, the previous rounds were participated by such notable entities as Chalfen Ventures, Stride VC, and OSS Ventures. This capital injection is likely to propel the growth curve of Kraaft and further strengthen its market position.

Use of Funds

Kraaft will invest the newly acquired capital into the following strategic initiatives:

• Product Development: Improving the features of the platform to cater to the changing needs of construction professionals, including advanced project management tools and integrations with existing industry software.
• Market Expansion: Expanding the company’s international reach beyond France to tap into international markets, thereby broadening its user base and increasing global presence.
• Team Growth: Scaling the team from 30 to 70 employees within a year to support expansion efforts and maintain high service standards.

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Market Opportunity

It is the least digitized sector in the world, despite employing over 110 million people. Inefficient communication often results in projects running over budget and schedule. Given that Kraaft is a solution tailored to the needs of this industry, it is well positioned to address the challenges and take a significant share of the market.

Competitive Landscape

While there are numerous communication tools, Kraaft is unique because it focuses solely on the construction industry. Its application is user-friendly and easy to navigate for users who are not necessarily familiar with digital solutions, so field teams tend to have a high adoption rate. This specific approach distinguishes Kraaft from generic messaging applications and positions it as a market leader in construction communication technology.

Leadership Team

Kraaft’s leadership team is made up of dedicated professionals committed to changing construction communication:

• Thomas Reygagne, Co-founder and CEO: Thomas leads the company’s strategic vision and overall operations.
• Marc Nègre, Co-founder and CPO: Marc oversees product development to ensure that the platform meets the needs of the users.
• Cédric Boidin, Co-founder and CTO: Cédric oversees the technological infrastructure and innovation.

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Future Prospect

With the huge investment in place, Kraaft is now well set to fasten its mission of revolutionizing communication in the construction industry. Its focus on product development, market expansion, and team growth makes it poised to set new standards for efficiency and collaboration in construction projects.

Summary

Kraaft, a Parisian start-up, has closed its €13 million round to further develop the construction-industry-specific innovative messaging platform. With this amount of investment, the company will scale the business and further develop its “WhatsApp for construction” app to simplify communication and project management for construction professionals.