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Why did we invest and reinvest in WeMaintain?

RAISE Ventures

Because we truly think that WeMaintain is going to be the next major player in smart building! 🚀

🧑‍🔧 WeMaintain is an innovative elevator maintenance service that puts the technician’s know-how back at the heart of its business. The company can offer unrivalled customer satisfaction because of its innovative business model and its product vision that brings the standards of user experience from the Tech DNA to the smart building sector. 🎯

The market 💹 🛒

- Despite appearances, the market in which WeMaintain evolves is more than attractive! On a global scale, it is estimated at $35 billion: HUGE 😵

- It may seem surprising but the most used mean of transport in the world is… the elevator 🆙

  • There are 12+ million units worldwide.
  • An estimated 7 billion elevator trips are ensured every day, which corresponds to 1+ billion people transported. To compare, according to an ATAG (Air Transport Action Group) report: 46.8 million flights have been scheduled in 2019 worldwide. This corresponds to an average of 130,000 trips per day ✈️

🚧 There is no reason why a market of this size should not experience a major innovation… The historical oligopoly of the four market leaders has led to an inefficient market, with low customer satisfaction and high margins, conducive to the emergence of new players like 💥 WeMaintain💥

A strong value proposition around technician empowerment, thanks to technology! 🦾

🙈🙉🙊 WeMaintain has built a unique business model based on a tri-party contract between the platform, the customer and the independent technician

🔦 All this is made possible thanks to a very important technological dimension (carried by Tristan Foureur, the CTO) and a remarkable product vision, which are integral parts of the company’s DNA 🧬

👉 WeMaintan is first and foremost a tech startup before being a player in elevator maintenance.

🧰 The system emphasises the technician’s expertise and allows him to be responsible for his own contract.

Why does WeMaintain provide a greater customer satisfaction and offer a significant improvement of the technician’s working conditions ? 🔧💘

☄️ WeMaintain has also become a mission-driven company proving that it is possible to have a strong impact, increased customer satisfaction, improved stakeholder value and generate a business with higher margins.

  • The company’s motto: “We rise by lifting others” is quite appropriate! ⚡️✨

️In this context, it is noteworthy that clients are willing to pay the same price, or sometimes even more for a WeMaintain contract, because they value the quality of service in a critical, regulation-sensitive sector.

Product and technology are key elements of WM’s value proposition, which greatly improve productivity and monitoring of interventions. 🌪

Why do we believe in them?

👫👫 We should always start there. The WM team is obviously exceptional on many levels: in its proven ability to perform, its complementarity and its background. Benoit Dupont, the CEO, already had over 11 years of experience at Otis in Asia before founding WeMaintain. This gave the team an unfair advantage in understanding the market and its pain points, as well as the ability to build a leading network in the industry. Jade Francine, the COO, stands out in this area 👊

🌜🔭 The founders’ vision is clear, precise and extremely ambitious:

  • The team has developed new data-driven products that will revolutionise the way elevator maintenance is managed and to better understand and organise the flows within buildings;
  • This will allow a real opening towards predictive maintenance and optimised repair. The challenge is to make the maintenance business model evolve towards more SaaS, thanks to the exploitation of data from the installation of an in-house hardware box. This allows for better optimisation of long-term maintenance, better anticipation and fewer repairs 🙌

🤘 With its technology and product, we are deeply convinced that WeMaintain is on its way to becoming a leader in the international smart building market.

  • Its ambition is to be able to handle all aspects of the smart building, by allowing a single technician to manage: elevator maintenance, fire maintenance, air conditioning, mechanical doors… where today, a different company is involved for each use case 🤯
  • This will necessarily lead to a very strong increase in margins and WeMaintain will be able to become an essential one-stop shop for building management. We will then be able to enter a market that will no longer be worth $35 billion but more than $100 billion 🪐💫

To conclude, this technological innovation will revolutionize building management, generate profitability that the historical players had not even dreamed of given their current business model, and above all, make people happy with a real and unequalled customer satisfaction! 👏

🤩 What a great omen for the future!

RAISE Ventures team

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