Simply a few weeks after saying $22 million in fundraising, Paris-based startup studio Hexa is increasing past its studio mannequin to accomplice with later stage corporations which have already discovered product-market match.
Referred to as Hexa Scale, with this program, the startup studio is on the lookout for B2B corporations that already generate some important recurring income (ideally from €1 to €10 million yearly), however which might be going through some progress points.
These corporations might have raised a seed spherical and even a Collection A spherical, however they’re now rising at a linear tempo. That’s when Hexa plans to step in, inject capital and assist in the case of operations, worldwide enlargement, product and advertising and marketing.
In 2012, Y Combinator co-founder Paul Graham wrote an essay known as ’Startup = Development’. In some ways, that essay has formed the narrative across the ideally suited progress trajectory for a startup. In line with him, as a substitute of rising income by a certain quantity, startup founders ought to concentrate on a goal progress price and attain that concentrate on.
That’s as a result of you’ll be able to simply examine a progress price quarter over quater, yr over yr. Another excuse why specializing in a progress price may be useful is that an organization grows exponentially if it may well preserve the identical progress price over time.
And VCs like to again startups with an exponential trajectory. An organization that grows at a linear tempo could have a tough time elevating additional funding spherical (despite the fact that there’s nothing incorrect with linear progress by itself). On the similar time, that firm additionally seemingly has an enormous group with costly working prices.
As a substitute of letting these corporations in that bizarre spot, Hexa needs to assist them turn into startups with exponential progress once more. Augustin Celier will probably be answerable for this new exercise. He beforehand co-founded a number of startups — Uptime, Shuffle, Marc&Aurèle and CoursdePhilo.
“I’ve been constructing corporations for the final 15 years. For my final enterprise, we ended up in a financing no-man’s land, which led us to a fireplace sale. Like many, we have been confronted with very slim assist choices: to remain on the VC observe, you want steady hypergrowth, whereas that you must accept sluggish, linear progress to go down the self-financing or Personal Fairness route,” Celier mentioned in a press release. Hexa Scale represents a 3rd path.
Whereas Hexa is healthier often known as the startup studio that spawned some profitable B2B SaaS startups like Entrance, Aircall and Spendesk, this isn’t the primary time Hexa is later stage corporations. It has already partnered with Yousign, which now processes greater than 5 million e-signatures per 30 days for 17,000 clients.
