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Project Management Platform Geniebelt Secures €2M Investment

GenieBelt – the Project management and communication platform to the global construction industry, has secured a €2 million investment from Danish Solar A/S and Co-founder and Chairman Klaus Nyengaard.

Solar is a leading European sourcing- and services company, and the 3000 employee company shares GenieBelt’s vision on changing the way the construction industry operates.

“In GenieBelt, we recognized a vision that is closely aligned with Solar’s, and we have also met the team who are capable of carrying out this vision” says Hugo Dorph, CCO Solar. “It is imperative for Solar, to support solutions that our customers experience as intuitive, easy-to-use and most of all

– relevant in making their jobs faster and easier”.

“The value of this investment should not be underestimated. Not only does this allow GenieBelt to focus 100% on establishing and scaling sales and marketing, but in Solar we also gain valuable insight and credibility in the construction industry, as well as support in our vision to improve the way we build, collaborate and communicate” says GenieBelt CEO Ulrik Branner. “Even though Solar won’t step in and change GenieBelt’s structure, priorities or strategy, this investment is a unique match of industry experience meeting cutting edge technology”

Klaus Nyengaard, Co-founder and Investor points out that “Over the last couple of years “ConTech” has become hot, and this investment is a clear sign, that Europe is following the trend of US. From what I know, this is the largest single European investment in next-gen mobile and user friendly solutions to the global construction industry – and that is something to be proud of!”

Facts about GenieBelt

GenieBelt is a project management and communications platform developed specifically for the construction industry. GenieBelt improves the way projects coordinate, collaborate and communicate by opening up and simplifying the vast information flow of modern projects.

Delays, Re-work & Waiting time combined, constitutes for >70% of the paid time and around 15% of project costs, which GenieBelt reduces by 50%.

The 25 employee strong company has its HQ in Copenhagen, and offices in London, Poland and Toronto.

 

Facts about Solar

Solar Group is a leading European sourcing and services company, operating primarily within the electrical, heating and plumbing, and ventilation technology sectors. The core business centers on product sourcing, value-adding services and optimization of the customers’ businesses.

Solar Group is headquartered in Denmark, generated revenue of approximately DKK 10.6bn in 2015 and has some 3,000 employees. Solar has been listed on Nasdaq Copenhagen since 1953, and operates under the short designation SOLAR B.

 

More Info: greniebelt.com