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.
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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 Traditional data vendors have not modernized their data and delivery models, while supply chain software remains outdated with manual and offline workflows.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.
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“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.”
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