Forest Admin, an admin-as-a-service interface for businesses, that was founded in 2017 has announced a €3 million funding round for the development of its first product.
Backed by Connect Ventures and French billionaire entrepreneur Xavier Niel, the funding will be used to accelerate product development of its SaaS CRM product and prepare for launching internationally. Transferwise CEO Taavet Hinrikus also participated in the round.
Forest Admin, based in Paris, is a single point of access for companies to manage its operations, such as CRM, onboarding, support, and workflow, while meeting requirements on data security, such as the forthcoming GDPR and HIPAA in the US. Using a freemium model for revenue, Forest Admin is currently used by around 350 companies.
“All online companies have a home-made back-office solution, but most are not optimal and what is certain is that they are all extremely expensive to develop and above all to maintain,” said founder Sandro Munda.
In a statement, the company said it would consider relocating to San Francisco in order to continue its growth.
“The market opportunity reveals itself to be incredibly big. Most companies must build and maintain admin interfaces,” said Jean de la Rochebrochard, who will be joining the board on behalf of Xavier Niel’s investment. “Yet, they face the challenge of finding the best solution to simultaneously meet the needs of their software development, business operations, and data management teams.”
Connect Ventures’ Pietro Bezza will also be joining the company’s board.