Craft, the enterprise intelligence SaaS company, announced today the completion of a $32 million 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. BAM Elevate, Balyasny Asset Management’s venture capital arm, led the financing, with participation from Greycroft, Uncork Capital, High Alpha, ServiceNow Ventures, Point Field Partners, and others.
Craft has deepened its integration of multidimensional supplier data over the last year, developed advanced analytic capabilities in Craft Risk Hub, Craft N-Tier Mapping, and Craft Alerts, and expanded its cloud-based collaboration and case management workflows.
The increased emphasis on cybersecurity, ESG, legal compliance, and geopolitics has all emphasized the need for comprehensive and reliable intelligence on all tiers of the enterprise supply network. In addition to embedding continuous monitoring of suppliers into daily operations, enterprises in both the private and public sectors are increasingly attempting to predict and mitigate issues proactively rather than reactively.
Craft’s solution is distinguished by its proprietary data platform, which collects data from internal and external customer systems and generates risk and opportunity insights for the customer in an easy-to-use, cloud-based portal. Clients must bring their own data to many business intelligence products. Craft’s solution contains extensive data from thousands of sources, revealing critical insights about suppliers.
Craft is the enterprise intelligence company helping Fortune 500 enterprises and government agencies building resilience and uncover new opportunity. 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 an integrated cloud-based software. Craft is headquartered in San Francisco, with presence across North America and Europe.