Construction-oriented startup GenieBelt reels in 700K Euro

GenieBelt940GenieBelt, a Danish construction-focused startup, has announced that they have obtained 700K Euro in funding from former JustEat CEO Klaus Nyengaard and OnApp CEO Ditlev Bredahl. Including the $500K that the company raised back in 2013, external funding for GenieBelt now totals roughly $1.3 million. GenieBelt CEO and co-founder Gari Nickson says that the company intends to use this latest investment to “improve existing modules, scale to all platforms, develop additional features, and to take on more of the value chain.”

GenieBelt publicly launched in November 2014 as a collaboration platform geared specifically towards construction firms. The platform allows users to keep track of various projects, check the status of tasks, access a directory of workers, records actions, receive notifications, and communicate internally. Geniebelt is available on the web and for iOS, while an Android app is in development.

The startup operates on a “freemium” model, charging admin users 190 British pounds monthly per user for those who wish to access advanced features. While we do not have information about the company’s userbase, the startup reported in November that they have begun to generate revenue.

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