At a Glance
Lunni is a Customizable Field Service Management (FSM) Platform for SME Service Companies. Lunni’s clients include the likes of Machinery Ltd and LSK Technology Oy in Finland.
Traction and Ask
With €13,5k avg net MRR and 64 customers in Q1 2023, and a €2,7M pre-money valuation, Lunni is looking to raise €324k seed funding. In addition, it would be good if the investor had internal sales and/or value-added reseller (VAR) network expertise. The investment is needed to:
- Validate its FSM platform and move to fully marketable product;
- Reach 40 more customers and €275k net ARR by Q4 2023;
- Strengthen the team with 2 new hires in both sales and product development and beef up international sales.
Market, Business Model, Financials and Team
In a global FSM market projected to reach €29.9Bn in 2031 (19.2%+ CARG/Year), Lunni was founded in 2011 in Lahti, Finland. Lunni is monetizing mainly through SaaS subscription fees, licensing and deployment fees charged to machinery and equipment manufacturing. Revenue growth is projected at 1,5x YoY (breakeven in Q4 2023), reaching €2,3M by Q4 2027. Lunni team of 6 (3 co-founders and 3 employees) combines 70+ years of commercial and SaaS expertise.
Key USPs versus competitors like Service-now, SF Field-Force and Repair-CRM are:
- Value for money compared to solutions with similar capabilities.
- Higher mobile app penetration across different processes and roles.
- Platform capabilities enable several business models – direct sales, reseller channel and building niche vertical solutions.
Lunni has already raised €569k in private capital from business angels and €443k in loans and grants from ELY Centre and Business Finland to develop its FSM platform, which means that, after this investment round is secured, Lunni is fully ready for international commercial uptake.
We aim to close this seed round by 30 June 2023, with a €20k minimum investment ticket size.
Get in Touch
Founder Markku Räisänen and the other founders are speaking with potential investors over the next few weeks and are keen to pitch, demo and open up their traction and financial plans in detail.
Get in touch with us to find out more.