We are extremely excited to announce that we have secured $12.2 million in a Series B round led by EBRD Venture Capital, with further participation from earlier backers, Creandum and InReach Ventures.
This is fantastic news for Craft and Craft users; it gives the company stability and enables us to continue to build high quality software, expand our team, and deliver even more great features.
The new funding will allow us to keep on improving Craft for iOS, Mac, Windows and web, at the same fast pace you have come to expect. It also enables us to expand our Craft for business offering. We are continually asked for more tools and features that will help companies power their businesses with Craft. The new funding puts us in a great position to deliver that.
The fact that we raised the amount we did, in the current, challenging investment climate is also testament to the quality of our product and the confidence that investors have in Craft continuing to deliver market-leading software at a fast pace.
Here's what Balint Orosz - Craft founder and CEO has to say about it:
"Craft is a significant evolution in the world of docs. We enable our customers to create an entirely new type of document format, which is powerful, beautiful and shareable. Our $12.2m raise demonstrates the confidence in the quality and growth potential of Craft. The investment allows us to continue building out our team with the very best talent, which is a very strong position to be in."
This latest round of investment comes after a Series A raise of $8 million in April 2021, led by Creandum, which also saw participation from Gareth Williams, co-founder of tech unicorn, Skyscanner.
Our investors explained their reasons for participating in this latest raise; Yalcin Gungoren from EBRD Venture Capital Investment Programme comments:
“We have been following Craft for a while and are very impressed by its product and vision for business communication and collaboration. Craft’s native platform has demonstrated very impressive organic growth.
The product empowers organizations and enables highly creative and collaborative content creation as well as effective communication. Customers and users truly love the product as evidenced by data. We are delighted to be part of the journey and excited to be working together with Balint and the entire Craft team. The product-led growth that they have demonstrated is exactly what we were looking for.”
Fredrik Cassel from Creandum comments:
“Craft Docs is a unique company building a very unique product with some of the strongest user love and engagement that we’ve seen in the productivity space globally. Since Creandum’s first investment two years ago, we’re particularly impressed with the transformation from delivering value to single users, to the current offering which is empowering entire organizations - including our own.”
Roberto Bonanzinga, co-founder of InReach Ventures comments:
“We are proud to be the very first investors in Craft. We were captivated by Balint’s original vision and ambition to build the editor of the internet. It is amazing to see that vision being executed in the product mechanics of Craft; visual capabilities and document creation features blend beautifully in a delightful consumer experience ready for entire organizations.”
Since winning a Mac App Of The Year award in 2021, we have grown to over one million installs. In particular, we've seen a rapid rise in customers from the USA, UK, Japan and Germany.
Craft is already being used for a broad set of use cases across several business areas including HR, engineering and marketing. This funding keeps us on a great course for sustainable growth and we can't wait to deliver even more great features for all our personal and business customers.