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Startup studio Hexa acquires majority stake in Veevart, a vertical SaaS platformfor museums
Hexa, a Paris-based startup studio, has acquired a majority stake in Veevart, a profitable vertical SaaS platform for museums, which simplifies tasks like ticketing and CRM. The acquisition aims to leverage Hexa's operational expertise to enhance Veevart's growth, with an investment of €5 million ($5.4 million). Veevart, founded in 2014, serves 160 museums worldwide and aims to double its revenue to $20 million.
Key points
- Hexa acquires majority stake in Veevart, a SaaS company for museums.
- Veevart offers an all-in-one platform built on Salesforce for managing events, ticket sales, and donor communications.
- Hexa has shifted from incubation to acquisition strategy to enhance existing companies.
- Veevart aims for rapid growth with Hexa's expertise, targeting $20 million in revenue.
- The investment amounts to €5 million ($5.4 million), and Veevart has been profitable but seeks accelerated growth.
Why it matters
- In 2025, vertical SaaS is expected to grow as industries seek specialized solutions rather than generic software.
- Hexa's approach mirrors trends in private equity where firms seek to operationally support existing profitable businesses.
This acquisition marks a strategic pivot for Hexa, aiming to leverage its expertise in growing established businesses like Veevart, highlighting a trend toward nurturing profitability and specialization in the SaaS sector.