All-in-one business management platform Geniac secures £22m
Investment from Grant Thornton coincides with launch of "office as a service" platform
Business management start-up Geniac has raised £22m from Grant Thornton UK LLP in the the first technology investment for the advisory firm.
Founded by ex-Accenture consultants Michael Galvin and Eduardo Martinez, London-based Geniac has launched today and wants to give “entrepreneurs the time to focus on growth” by managing their support functions within one platform.
Geniac’s “office as a service” site combines accounting, tax, legal, human relations and corporate administration in one service, with the goal of transforming the rate at which small businesses can grow.
The funding will help the company fulfill its expansion plans as it begins actively hiring for its offices in London and Glasgow over the next 12 months. It is targeting rapid growth of up to £50m over the next seven years.
Martinez commented: “When you’re a business founder with a big idea, the last thing you need is distraction. Many entrepreneurs don’t know what’s required in establishing and running a business and have to resort to bringing in individual specialists, which is time consuming, expensive and rarely joined up.
“We created Geniac to integrate all the specialists and tools a growing business needs, giving business owners complete visibility, peace of mind and the time to get back to doing what they love.”
“Since launching our service in beta mode, we’ve had brilliant feedback from our customers and are excited to officially go live today. The investment from Grant Thornton will allow us to grow rapidly, enabling us to support even more small businesses in fast growth, across the UK and beyond.”