Today, we’re thrilled to announce that we’ve raised $10M in Series A funding. Our news was covered by TechCrunch: As the pandemic creates supply chain chaos, Craft raises $10M to apply some intelligence.
We invite you to learn more from our official press release.
Craft raises $10 million Series A funding to bring a 360-degree view of any company to the enterprise
San Francisco, August 21, 2020 – Craft, the enterprise intelligence company, today announces that it has closed a $10 million Series A financing to build a supply chain intelligence platform that empowers organizations to understand, monitor and optimize their supply chain and enterprise ecosystem. The financing was led by High Alpha Capital with coinvestors Greycroft; Sam Palmisano, Chairman of the Center for Global Enterprise and former CEO and Chairman of IBM; Jim Moffatt, former CEO of Deloitte Consulting; Frederic Kerrest, executive vice chairman, COO and co-founder of Okta; and Uncork Capital which previously led Craft’s Seed financing. High Alpha Partner, Kristian Andersen, is joining Craft’s Board of Directors.
Until now, advanced visibility into complex global supply chains has been hard to achieve. Traditional data vendors have not modernized their data and delivery models, while supply chain software remains outdated with manual and offline workflows. COVID-19 disrupted global supply chains, revealing unmanaged risks and structural weaknesses across industries. The pandemic has further highlighted the need for comprehensive and reliable intelligence on all tiers of the supply chain. Increasingly, companies are seeking to predict and mitigate issues before they arise, in addition to real-time continuous monitoring of suppliers.
“We have a deep conviction that supply chain management remains an underinvested and underinnovated category in enterprise software” said Kristian Andersen, Partner with High Alpha. “We’re thrilled to partner with Craft and support them as they continue to define and build this exciting new category – focused on providing powerful analytics and supply chain insights directly to the enterprise.”
Craft’s solution is differentiated due to its unique combination of a proprietary data platform, robust API, and an easy-to-use, cloud-based portal that can seamlessly integrate into existing enterprise workflows.
While many business intelligence products require clients to bring their own data, Craft’s data platform deploys packed with data from thousands of financial and alternative sources, surfacing previously hard to track signals on any company in the world. The resulting 360-degree view of target companies includes more than 300+ data points that are constantly refreshed using both Machine Learning and human validation. Craft’s openly accessible company profiles appear in 50 million organic search results and serve more than one million professionals per month.
“It has been very exciting to see the enthusiastic response from both enterprise leaders and individual knowledge workers to our data platform and enterprise portal,” said Ilya Levtov, co-founder and CEO of Craft. “Today, we are focused on providing powerful tracking and visibility to enterprise supply chains, while our ultimate vision is to build the intelligence layer of the enterprise technology stack.”
In the first half of 2020, Craft’s revenues have grown nearly threefold, with Fortune 100 companies, government and military agencies, and SMEs among its multi-year clients. With the new funding, Craft will further expand its offices in San Francisco, London, and Minsk, and grow remote teams across engineering, sales, marketing and operations in North America and Europe.
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