Craft, a San Francisco, CA-based enterprise intelligence company, announced that it completed $32 million in Series B equity financing to further develop its leading supplier intelligence platform, which enables organizations to understand, monitor, and optimize their supplier network and enterprise ecosystem.
The round was led by BAM Elevate, the venture capital arm of Balyasny Asset Management, with participation from Greycroft, Uncork Capital, High Alpha, ServiceNow Ventures, Point Field Partners, Frederic Kerrest, Executive Vice Chairman and Co-Founder, Okta; Stacey Epstein, CMO of Freshworks, and Edith Harbaugh, co-founder, and CEO of LaunchDarkly.
With the new funding, Craft will deepen its go-to-market execution in key verticals and accelerate research and development to further meet and exceed the needs of the market.
“Global enterprises using new data sources, models and methodologies to increase resilience and productivity is a mega-trend that continues to accelerate,” said Ilya Levtov, Founder and CEO of Craft. “In today’s volatile and unpredictable macro-economic environment, the need for advanced visibility and proactive risk management across a wide range of dimensions has never been greater. The Supply Chain suite at large enterprises continues to undergo its largest wave of transformation since ERP, and the Craft team is proud to empower supply chain, procurement and risk managers every day with data, analytics and software to support their decisioning and workflows.”
Craft’s solution is differentiated due to its proprietary data platform which ingests data from internal customer systems and external sources and generates risk and opportunity insights for the customer in an easy-to-use, cloud-based portal. Many business intelligence products require clients to bring their data.
Company: Craft. co
Raised: $32.0M
Round: Series B
Funding Month: February 2023
Lead Investors: BAM Elevate
Additional Investors: Greycroft, Uncork Capital, High Alpha, ServiceNow Ventures, Point Field Partners, Frederic Kerrest, Stacey Epstein, and Edith Harbaugh
Company Website: https://craft.co/
Software Category: Enterprise Intelligence Platform
About the Company: Founded in 2014 by Ilya Levtov, Craft is an enterprise intelligence company helping Fortune 500 enterprises and government agencies build resilience and uncover new opportunities. Craft’s unique data platform enables supply chain, procurement, and risk managers to monitor their suppliers at scale, increasing visibility and resilience by tracking real-time signals proactively across millions of companies globally. Craft provides comprehensive company data, advanced analytics, and intuitive software that delivers best-in-class intelligence, in integrated cloud-based software. Craft is headquartered in San Francisco, with a presence across North America and Europe.
Source: https://www.businesswire.com/news/home/20230201005339/en/Enterprise-intelligence-company-Craft-raises-32-million-Series-B-funding-to-illuminate-and-strengthen-global-supplier-networks