Company accelerates delivery of revenue optimization software suite for properties
NEW YORK, September 22, 2022--(BUSINESS WIRE)--Carats & Cake, the financial operating system for the events industry, today announced its $10.6 million Series A fundraising. Led by 1Sharpe Ventures, with additional participation from Founders Fund, Acrew Capital, Moore Specialty Credit, Correlation Ventures, GMO VenturePartners, Argosy Capital, and SilverCircle this latest capital enables Carats & Cake to expand across product, engineering, and sales as it brings to market the end-to-end revenue optimization software needed by venues and property management firms. Today’s announcement brings the company’s total equity raised to $19.9 million with an additional debt facility of $10 million. Gregor Watson, co-founder of 1Sharpe Ventures will also be joining Carats & Cake’s board of directors.
"After working with properties for years, we began selling our new software in January of 2022 and the response to date has been extraordinary with over 300 properties choosing our solutions including our first enterprise partner, Loews Hotels. The platform’s value is undeniable - provide a better, more consistent customer experience, offer flexible, digital payment features like pay-over-time, and improve revenue, cashflow, and time to conversion," said Jess Conroy, Founder and CEO, Carats & Cake. "With this latest financing, we plan to thoughtfully build out our product, engineering, and sales teams as we continue to support properties with purpose-built tools. We seek to be the partner of choice for the digital transformation of the events industry and we have the investor support to make that a reality."
Founded in 2013, Carats & Cake has long been the go-to source for marketing and discovery for event businesses. Today, that trust has evolved to touch every facet of venue and property groups’ event sales operations including contracting, invoicing, and financing. The company’s solutions connect the customer journey from venue discovery to actually paying for an event. Carats & Cake serves as a necessary solution for venues that complements CRM and POS solutions already in use on the hotel booking side of the business, which are commonly run entirely separately.
"When we first invested in Carats & Cake in 2021, we were impressed by Jess’ knowledge of the events industry and fully thought through software and data stack that would best serve her customer base as they grow this vital line of business. The projections we invested on in the seed were quickly blown out of the water and it was a no-brainer to lead the Series A," said Gregor Watson, Co-Founder, 1Sharpe Ventures. "The pandemic created a wedding boom in an already fast-growing, $100 billion per year industry. By embedding even more deeply with the leading venues and property groups, Carats & Cake is poised to help them provide the experience customers demand and optimize their revenue each step of the way. It’s exciting to be a part of this industry’s transformation and help steward Carats & Cake’s future on the board as well."
Carats & Cake delivers the revenue optimization platform for venues and property groups, transforming the $100 billion annual events industry through a full suite of purpose-built marketing, sales, and customer conversion (contracting, invoicing, and payments) solutions. Built by industry leaders, Carats & Cake has cultivated nearly a decade of trust with best-in-class businesses. Founded in 2013 and backed by 1Sharpe Ventures, Founders Fund, Acrew Capital, Moore Specialty Credit, Correlation Ventures, SilverCircle, GMO VenturePartners, and others, Carats & Cake enables forward-thinking event venues, hospitality groups, and property asset owners to provide a modern customer experience while optimizing sales operations and increasing revenue.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220922005558/en/
Media Kate Gundry press@caratsandcake.com 617-797-5174
On Wednesday, the Fed bumped up interest rates again, its third 75-basis point hike since June, and signaled that there could be two more such hikes by the end of this year. The conventional wisdom has the Fed acting properly, and aggressively, in an attempt to counter inflation raging at 40-year high levels. But conventional wisdom isn’t always right – and we can learn a lot by consulting the contrarians. Few top investors are more contrarian than Cathie Wood. The founder and manager of ARK Inv
And what it means for your wealth-building options.
Homeowners beware. But don't panic, either.
The shipping company has developed a reputation as one of the best dividend stocks around
“We printed up too much money, and just thought the party would never end,” Icahn said, adding that with the Fed raising rates to fight inflation, "the party's over."
The hedge fund legend has spoken. Pay attention.
Warren Buffett’s long-term investment strategy has proven to be successful through virtually all market conditions over the past several decades – recession, high inflation and deflation. If there’s one thing that’s made Buffett one of the most successful investors in history, it’s his commitment to his strategy. A countless number of new investment techniques and algorithms have come and gone over the years, but Buffett has maintained his relatively simple strategy of picking solid companies an
Novavax, Inc. stock is trending on the Yahoo Finance Platform. Here is a visualization of $NVAX performance over time, how that performance compares to the wider industry, and analyst projections for the current quarter.Check out the ticker page here.
In this article, we will look at the 4 stocks billionaire Leon Cooperman is talking about right now. If you want to skip reading about Leon Cooperman, his investment career, and his stock-picking strategy, you can go directly to Billionaire Leon Cooperman is Talking About These 2 Stocks. Leon Cooperman’s Investment Career Leon Cooperman is […]
Multiple insiders secured a larger position in Intel Corporation ( NASDAQ:INTC ) shares over the last 12 months. This...
See who joins GOOGL and MSFT on this screen of Warren Buffett stocks based on the investing strategy of Berkshire Hathaway's CEO.
A year from now, metrics like fed-fund rates and mortgage rates should be approaching their long-term average. What do we until then? Some strategists suggest bizarre investments like long-term Treasuries, shorting gold, and buy stocks in companies with decent dividends and share-buyback programs.
Positions in the dollar, U.S. technology companies and private equity are at risk in one of the greatest bear markets for bonds ever, said BofA Securities.
Here we'll review three farming-related companies that should provide solid returns to investors.
Yahoo Finance's Jared Blikre joins the Live show to check out market and sector losses amid today's sell-off, while also looking at meme stocks and the travel industrial.
Roku, Inc. stock is trending on the Yahoo Finance Platform. Here is a visualization of $ROKU performance over time, how that performance compares to the wider industry, and analyst projections for the current quarter.Check out the ticker page here.
As much as stocks are falling, moves in another financial market have even more profound implications for the global economy.
NEW YORK (Reuters) -A week of heavy selling has rocked U.S. stocks and bonds, and many investors are bracing for more pain ahead. Wall Street banks are adjusting their forecasts to account for a Federal Reserve that shows no evidence of letting up, signaling more tightening ahead to fight inflation after another market-bruising rate hike this week. The S&P 500 is down more than 22% this year.
The S&P 500 could revisit its 52-week intraday low of 3636—or go even lower. But there could also be an "impulsive rally" that takes the index past 4100.
In this article, we discuss the 15 stocks Australian billionaire Kerr Neilson is selling. If you want to skip our analysis of Neilson’s history and investment philosophy, go directly to Australian Billionaire Kerr Neilson is Selling These 15 Stocks. Kerr Neilson is a billionaire investor who co-founded Platinum Asset Management with Andrew Clifford nearly 28 […]