Carats & Cake Raises $10.6M in Series A Funding

Carats & Cakea New York-based provider of a financial operating system for the events industry, raised $10.6 million in Series A funding.

The round was led by 1Sharpe Ventures, with participation from Founders Fund, Acrew Capital, Moore Specialty Credit, Correlation Ventures, GMO VenturePartners, Argosy Capital and SilverCircle. Gregor Watson, co-founder of 1Sharpe Ventures will also join the board of Carats & Cake.

The company intends to use the funds to expand its operations across product, engineering and sales while bringing to market the end-to-end revenue optimization software that sites and businesses need. property management companies.

Led by CEO Jess Conroy, Carats & Cake offers a revenue optimization platform for real estate sites and groups, which includes a full suite of marketing, sales and customer conversion solutions (contracts, invoicing and payments ) specially designed. The company’s solutions connect the customer journey from venue discovery to actual payment for an event and complement the CRM and POS solutions already in use on the hotel booking side of the business, which are typically managed entirely separately.

This brings the company’s total equity to $19.9 million with an additional $10 million credit facility.

EndSME

09/23/2022

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