Crafty Raises $10 Million Series A to Centralize Food, Beverage, and Supply Services for an Increasingly Distributed Workforce
Crafty, a centralized platform for workplaces to manage food, beverage and supplies for employees, announced its $10 million Series A led by Tribeca Venture Partners. To date, Crafty has raised over $15 million from investors, including Greycroft, OCA Ventures, Manifold, Firebrand, Rubicon Venture Capital, 7BC Venture Capital, Gaingels, and Bluestein Ventures. With the newest funding, Crafty will invest in growth with a focus on recruiting key hires for its technology, product, and sales teams.
Since its launch in 2015, Crafty has expanded to 27 markets across the globe, including New York, San Francisco, London, Dublin, Sydney, Melbourne, Toronto, and Vancouver. The company manages over 260 customer offices and serves over 300,000 employees per month, both in-office and remote. Clients include companies such as Yelp, PayPal, Duolingo, Upwork, Brex, Sprout Social, and NextRoll. After facing the challenges brought on by the pandemic, in 2021 the company delivered over 800 percent top line revenue growth from pivoting operations into a more scalable, asset-light platform. Crafty launched 20 new markets that same year through partnerships with local fulfillment providers who use the company’s operating system. This move allowed Crafty to give its clients a single platform to manage all consumable spend across offices and remote employees alike.
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“People spend one third of their life working. Our goal is to help companies cultivate a culture of connectivity and employee appreciation through the power of food and beverage,” said Nathan Rosenstock, co-CEO and co-founder of Crafty. “With growing uncertainties about the future of work, businesses need a solution that supports both hybrid and remote working models and evolves with the demands of a distributed workforce,” adds Ishan Daya, co-CEO and co-founder of Crafty. “Crafty not only keeps pace with the rapid changes workplace teams face, but our team and technology are building our vision of what the future of the employee experience will look like for everyone, everywhere.”
One of the new challenges for employers is equity across the remote, hybrid and in-office experiences. Many employees have a baseline expectation of the benefits and perks that top workplaces provide. A 2021 YPulse survey of Gen Z and Millennial workers shows that 65% identified free office meals as the top workplace perk that would make them enjoy working at a job more. This workplace trend highlights the importance of consumables to the workplace culture. Crafty’s platform enables its clients to provide a holistic and competitive employee experience.
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“Companies spend a lot of money on perks and supplies that employees consume for business-critical needs: nourishment, productivity, collaboration and connectivity,” said Brian Hirsch, co-founder and managing partner of Tribeca Venture Partners. “What is so impressive about Crafty is how the company was able to pivot during the pandemic to create an incomparable and highly desirable solution for the $1 trillion market of business-to-business consumable spend.”
Crafty’s team is developing proprietary operating systems that arm procurement, finance, and workplace teams with a single platform that consolidates management, reporting, and ordering of consumables for employees across their offices and remote teams. Since Crafty sits at the center of employee consumption, the data collected is particularly insightful to key stakeholders. For procurement teams, Crafty consolidates services into a single, unified platform. For workplace teams, Crafty delivers a cohesive experience for employees, no matter where they work. For brands, Crafty presents an opportunity to find, activate, and convert consumers to be repeat buyers and brand loyalists.
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