It’s no secret that today is a challenging environment in venture capital. So we are especially proud to be announcing a $32 million Series B financing led by outstanding investors in Silicon Valley and beyond.
We closed our Series A in summer 2020, just as the COVID pandemic was gripping the world. Our business was hitting stride providing advanced visibility into the complex supplier networks of Fortune 500 enterprises. Suddenly, supply chain disruptions were dinner table conversation and a central story in daily news.
While the immediate disruptions from the pandemic have stabilized, the fragility of global supply chains remains clear to see and will take years to address. It developed over decades of optimizing for efficiency, Just-in-Time delivery, with generally open trade routes around the world.
Today we live in a less smooth, more volatile era. In response, enterprise supply chains need to be rewired for resilience and to manage newer risks such as Geopolitics, Climate, ESG and Cyber-attack. It is an urgent topic in the boardrooms and C-suites of enterprises, and a major topic in the halls of government.
Craft has developed a powerful software platform to address these requirements, comprising 3 distinct layers. At its foundation is the most comprehensive set of data on suppliers flowing from external third party sources merged with internal first party data. In the second layer, Craft provides advanced visibility into supplier risks and opportunities via Risk Hub, N-Tier mapping, Alerts, and other capabilities. At the top sits a workflow layer including shared note-taking, collaboration and case management. The whole suite is delivered in a highly usable cloud-based application, running enterprise grade security. Craft integrates today with Google Cloud, SAP and ServiceNow, with more exciting integrations launching soon.
With strong backing to fuel our growth and expansion over the next several years, we feel privileged to be serving customers in the exciting dynamic world of supply chain transformation.
If this is an important topic for you or your business, please get in touch with our team at sales@craft.co, or connect with us on LinkedIn.