- Enterprise intelligence company Craft announced that it has raised $10 million in Series A funding to build a supply chain intelligence platform
Enterprise intelligence company Craft announced that it has raised $10 million in Series A funding to build a supply chain intelligence platform that empowers organizations to understand, monitor, and optimize their supply chain and enterprise ecosystem. This round of funding 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. In connection with the funding, 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. And traditional data vendors have not modernized their data and delivery models while supply chain software remains outdated with manual and offline workflows. COVID-19 has been disrupting 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 have been seeking to predict and mitigate issues before they arise, in addition to real-time continuous monitoring of suppliers.
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.
Many other business intelligence products require clients to bring their own data, but Craft’s data platform deploys packed with data from thousands of financial and alternative sources and surfaces 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.
In the first half of this year, Craft’s revenues have grown nearly threefold, with Fortune 100 companies, government and military agencies, and SMEs among its multi-year clients. And 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.
KEY QUOTES:
“We have a deep conviction that supply chain management remains an underinvested and underinnovated category in enterprise software. 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.”
— Kristian Andersen, Partner with High Alpha
“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. 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.”
— Ilya Levtov, co-founder and CEO of Craft
