Grow-ID is opening a funding round in Q2 2022

Since the beginning of 2021 Grow-ID achieved a nice organic growth. From a proof of concept stage we have been researching and monitoring the exact needs of the market very closely. This enabled us to gain relevant insights, information and data which has been used to build a first version of our platform (prototype). This information will also enable us to further develop towards a SaaS platform (MVP & market-fit product). 

The main reason to set up a funding round is to buy time and accelerate organic growth. 

Grow-ID can buy time in three different ways: 

1. to accelerate the development of the SaaS platform by being less dependent on financing from ongoing projects. 
2. to create more focus on building the startup instead of the main focus being on projects. 
3. to hire more people so more can be done within the same time by creating more focus on the team. 

Grow-ID is looking for a total of €300.000 for the complete funding round. This is divided into three different tranches. 

The trances are divided into the following parts: 

1. Tranche 1 will be used to develop the MVP of the SaaS platform. 
2. Tranche 2 will be used to develop the first complete version of the SaaS platform. This is done in combination with building an operational foundation at Grow-ID. 
3. Tranche 3 will be used to launch the SaaS platform and expand nation-wide. 

The (Pre) Seed Funding is aimed to reach the following milestones: 

• Building a fully automated SaaS platform.  
• Hiring a team and facilitating this team with good terms of employment, an office and facilities. 
• Building an operational foundation at Grow-ID in order to be ready to scale. 
• Launch a go to market campaign. 
• Build a nationwide partnership network with Business Partners & Consulting Partners. 
• Attract new clients through all of the Netherlands. 

Grow-ID is open to multiple types of financing/investors. The last months we had multiple conversations with business angels, venture capitalists and private equity.

Through these conversations we mainly discovered that we would like to work with investors who can help us with the following  things: 

• bring in financing with a minimum of €10.000 per each investment, 
• bring a relevant network of new clients, service providers and partnership opportunities, 
• experience in building a business/startup and who can advice the founding/management team, 
• carry out the story and vision of Grow-ID! 

The most important part is that there needs to be chemistry between both parties since we have to work together for the upcoming years.

Grow-ID is active in the industry of business services with a B2B SaaS platform. Here we compete with a small number of comparable platforms like Upwork, Fiver and Sortlist. 

The biggest USP that Grow-ID has in regards to comparable platforms is the difference of focus. Where competitors focus on matchmaking between party A and party B Grow-ID focuses on building a platform that facilitates in setting up and managing external solutions on a project basis. Matchmaking is one of the tools within our platform that businesses can use, this is in combination with several other tools, processes and services which they can use. We are not an online middleman but a facilitator. 

Furthermore Grow-ID focuses on creating solutions based on a project basis where relationships and partnerships are built through the project. An analysis of macro economics shows us that the labor market is moving more and more towards a project orientation when seeking/building solutions. Previously people were looking for relationships/stakeholders who could solve a problem, nowadays people make ‘a project’ about it. 

These two USP’s give a first mover advantage in the industry of business services.

Grow-ID is ready to scale by focusing on 3 different aspects. 

This is done through focusing on developing technology that facilitates and where multiple stakeholders from a business can use it. By building it in a dynamic way enables businesses to use our platform in the way they like. 

Furthermore we will focus continuously on balancing demand and supply within the platform. When a reasonable balance has been reached we can focus on adding new tools, services and products to the platform. In the future Grow-ID will develop these new tools, services and products itself. 

Grow-ID focuses on creating partnerships and building a community around our platform. Partnerships will join our platform and Grow-ID will integrate the platform within their business/services. Within the community clients, services providers and partners will get a face, this way it becomes clear who uses Grow-ID and in what way.

Grow-ID sees itself taking the following five steps in the coming years. This is based on the long term vision of making external solutions more accessible in the business services industry by adding structure, oversight, transparency and objectivity. 

The five steps are the following: 

1. Develop a SaaS platform where businesses can find external solutions by outsourcing to service providers on a project basis. Projects can easily be built and managed. 
2. Focus on further development of the SaaS platform where new and different forms of solutions will be added to the platform. You could think of SaaS products, data & insights, a learning academy or an online community. 
3. Grow-ID develops new digital products, services and tools which will be integrated into the platform. 
4. The platform will be a place where all solutions within the business service industry can be found and where new and existing relationships/partnerships can work together on a project basis. An online place that facilitates doing business in the business service industry! 
5. The platform and concept of Grow-ID will be launched into different service industries. Think of technical/engineering services, facility management, healthcare services or real estate services. 

If you would like to receive more details about Grow-ID, you can do the following things: 

1. Take a look at Leapfunder or Funds Up where we more detailed information available.
2. Send Jens Visser a message on LinkedIn or send a mail to jensvisser@grow-id.com 
3. Schedule a meeting with Jens Visser through the Hubspot link stated below.

Don’t hesitate to fire questions at us, we are eager to answer your questions and talk about potential opportunities to work together on Grow-ID!