Connect backs Forest Admin in €3m round

French billionaire entrepreneur Xavier Niel and Transferwise CEO Taavet Hinrikus also took part in the round.

Forest Admin intends to use the funding to accelerate product development of its software-as-a-service CRM product and to prepare for an international launch.

Pietro Bezza, managing partner and co-founder of Connect Ventures, will be joining the company's board.

Connect held a €18m first close for its maiden early-stage fund in May 2012. The vehicle has a seven-year lifetime, including a four-year investment period, with two potential one-year extensions.

Company
Founded in 2017 and based in Paris, Forest Admin offers a single point of access for companies to manage their operations, such as CRM, onboarding, support and workflow. Forest Admin is currently used by 350 companies.

People
Connect Ventures – Pietro Bezza (managing partner, co-founder).
Forest Admin – Sandro Munda (founder).

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• Connect Ventures