Genuity Analysis: $125K Raised
What is Genuity?
Genuity builds a SaaS platform for IT teams to manage vendor spend, contracts, assets, telecom expenses, and help desk work. The company also runs a marketplace for software, telecom, and hardware purchased at wholesale prices. Its website says more than 10,000 IT professionals use the platform and that it supports buyers across IT, finance, and leadership roles.
Location
800 Roosevelt Rd, Glen Ellyn, Illinois 60137, US
Employees
11-50
Founded
2017
Revenue
$2-2.2M
Product Features & Capabilities
- Microsoft Solutions, Security Solutions, ITaaS (Managed Services), Telecom/VoIP, Business Software, Cyber Security, Cloud Solutions, Technology Management, IT Marketplace
Pricing
- $29.99 per company, per month with community subscription.
- Unlimited users & usage included.
- No credit card required for the free trial.
How much Genuity raised
- - $125K
September 01, 2021Lead Investor: Y Combinator
Who are the founders of Genuity
Market Focus
Genuity primarily focuses on the Information Technology (IT) industry, specifically as a Software as a Service (SaaS) platform that provides IT solutions for businesses.
Investors
- Y Combinator
- 10x Value Partners
- Counterpart Ventures
- Cathexis Ventures
- Global Founders Capital
Competitors Overview
Genuity operates in the IT solutions and SaaS market, facing competition from several notable companies. The main competitors include:
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ServiceNow: Holds the largest market share in IT Asset Management at 30.10%. It offers extensive features and capabilities, making it a robust choice for enterprises looking for comprehensive IT service management solutions.
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Jira Service Management: With a market share of 15.99%, it is known for its powerful ticketing system and efficient service management features, including incident and change management. However, it may have a steeper learning curve.
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SolarWinds Service Desk: Focuses on redefining employee service experiences and excels in managing service requests and change management. It integrates well with other ITSM tools but may require significant setup.
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Freshservice: Designed using ITIL best practices, it offers a customizable ITSM solution that enhances service delivery. However, it may have limitations in reporting and integrations compared to others.
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NinjaOne: Known for automated endpoint management, it provides a user-friendly interface and efficient management of IT assets.
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Vanta: Emphasizes security and privacy for cloud services, making it a strong choice for businesses focused on compliance and security.
Genuity, with a market share of only 0.25%, may have fewer resources and features compared to these larger competitors, which could impact its appeal to potential customers.
Business Model
Subscription-based model with community pricing for IT services and flat-rate fees.
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