London-based startup Keel offers a platform designed to help businesses build custom operational software without the need for extensive engineering resources. The platform targets growing companies that need more than spreadsheets but aren’t ready for large, expensive ERP systems.
Aiming to fill the gap between no-code tools and larger enterprise resource planning (ERP) software like Oracle and SAP by providing a customisable, user-friendly alternative for operations teams, now the British startup has raised $6 million in seed funding from European investors Earlybird and LocalGlobe.
The funding will be used to further develop Keel’s platform, which combines engineering best practices with operational needs, allowing non-engineers to build custom tools. Early customer HIVED has used Keel to develop internal tools like driver shift management and is expanding into finance and payroll functions.
How Keel is bridging the operations software gap?
Keel was co-founded in 2022 by Benoit Machefer, Jon Bretman, and Tom Frew, who previously worked at Echo, Europe’s fastest-growing online pharmacy. At Echo (an online pharmacy in the UK that scaled to serve 600,000 patients), they faced challenges with off-the-shelf tools, prompting them to build their own software to scale the business to $80 million in revenue during the COVID-19 pandemic.
Speaking to TFN, Benoit Machefer, CEO and co-founder of Keel explained that there is a market need for a flexible, customisable, and collaborative platform for building operational systems: “We spotted a massive gap in the market. Traditional no-code platforms are too limiting, while ERPs are inflexible behemoths. Keel takes a different approach – we’re code-first and API-first, giving businesses the power to solve complex operational challenges that other platforms simply can’t touch.
What makes Keel special is its unique approach to operational software. Unlike traditional no-code tools or complex enterprise systems, Keel puts code and APIs first. This means companies can build exactly what they need when they need it without the limitation of the pre-build features. The platform is open-source and user-friendly, making it easy for technical operators to get started and for engineers to step in when needed.
In essence, Keel is designed to facilitate collaboration between operational and engineering teams rather than siloing them. This integrated approach is a key advantage in effectively addressing logistics, delivery, and healthcare tech operational challenges.
For instance, their platform allows businesses to create custom tools to manage stock inventory efficiently. In particular, Keel enables businesses to list products, create stock locations, and manage stock items. Plus, the company provides tutorials on how to set up and use internal tools for inventory management, such as listing out-of-stock products and creating stock items.
The future of business operations is here
The platform’s real-world impact is already showing through early customers like HIVED. A single HIVED operations team member used Keel to build a complete driver shift management system. Now, they’re expanding their platform to handle finance, facilities management, and payroll – all without needing a large technical team.
“We founded Keel because we believe the future of business operations is changing,” Machefer explains. “Modern companies need to own their operational stack. We’re building a world where traditional ERPs become obsolete, replaced by technically-savvy operators who can craft their solutions.”
Earlybird Partner Dr Andre Retterath comments: “We saw something extraordinary in this team and the giant market they are tackling with a customisable solution. In order to disrupt this market with a more operationally-minded product, you need a team who built and scaled ops-centric organisations themselves, which we found in Benoit, Tom, and Jon. We are proud to have backed them since day 1.”
The road ahead
Keel’s future plans focus on solidifying its position as the leading platform for building operational systems, enhancing its product capabilities, particularly in AI and data consistency, and accelerating its go-to-market efforts to reach a broader customer base. The future growth will depend not only on Keel’s technical superiority but also on its ability to navigate sector-specific compliance issues and build trust with traditional enterprises that typically favour proven solutions over newer platforms.
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