Partnership will accelerate the development of hospitality tech solutions and industry reach
DALLAS, July 26, 2023 /PRNewswire/ — Craftable, the hospitality industry’s leading SaaS platform, is proud to announce that it has partnered with Dallas, TX-based private equity firm Gauge Capital to provide growth funding and capitalize on industry opportunities. This strategic investment further enhances Craftable’s position at the forefront of cutting-edge technology shaping the hospitality industry.
“We are excited to partner with Gauge for the next chapter of Craftable’s growth. We look forward to leveraging the resources and support from an investment partner with significant enterprise software expertise while maintaining our relentless focus on the customer experience that has always been at the core of Craftable’s success,” said Samuel Zats, Co-Founder and CEO of Craftable. “Gauge’s growth investment in the business and aligned focus on supporting our customers will help us to accelerate our product innovation, execute our sales strategy and further build our impact in the market.”
Craftable’s innovative technology solutions equip restaurant, bar, hotel and hospitality operators with intuitive and easy-to-use tools that can help them make strategic decisions based on real-time data to drive sales and reduce costs. Its leading hospitality management SaaS platform allows for seamless back-of-house automation and management. By providing operators with procurement, inventory tracking, recipe cost management, accounts payable automation, scheduling and analytics solutions, they can use this critical data to boost revenue while successfully lowering pour costs by 3-5% and food costs by 2-3%. Today, Craftable has over 50,000 monthly active users, with more onboarding every day. Craftable serves thousands of hospitality industry operators and partners with some of the most prominent names in hospitality.
“Craftable has a distinguished reputation in the hospitality sector, enterprise-grade capabilities, and a highly scalable technology platform,” said Tom McKelvey, Co-Founder and Managing Partner at Gauge Capital. “We couldn’t be more excited to partner with the Craftable team to realize our shared vision for the future of hospitality innovation.”
As part of the investment, Tom McKelvey, Garrett Fair, and Sam Yang from Gauge Capital have joined Craftable’s Board of Directors. TI Partners served as financial advisor on the transaction.
For more information about Craftable, visit craftable.com. For more information about Gauge Capital, visit www.gaugecapital.com.
About Craftable (craftable.com)
Craftable is a technology platform provider that seamlessly connects purchasing, recipes, inventory, sales, accounting, and analytics to create operator success in the hospitality, food, beverage, and entertainment industries. Craftable’s best-in-class Foodager and Bevager management systems allow operators to access product supplies, invoices and purchasing procurement at their fingertips while integrating with 60+ POS and financial systems to provide real-time data on how product cost increases, variances, and labor affect their bottom line. Founded in 2015 and designed by Silicon Valley tech experts and hospitality veterans, Craftable seeks to equip businesses with the next-level technology needed to operate more efficiently, reduce inventory costs, and take control of revenue in ways they weren’t able to before. Craftable partners with some of the most prominent operators in hospitality, such as José Andrés, Tao Group Hospitality, bartaco, Major Food Group, Front Burner Society Brands and Kimpton Hotels. Learn more at craftable.com.
About Gauge Capital (www.gaugecapital.com)
Gauge Capital is a leading middle-market private equity firm based in Southlake, Texas. Gauge invests in five key sectors: business services, food & consumer, government & industrial services, healthcare, and technology. The Firm manages more than $2.0 billion in capital, and in 2020, 2021 and 2022, Inc. Magazine named Gauge one of the top private equity firms for founders. In 2021, 2022, and 2023 Gauge was also named to the Top 50 PE Firms in the Middle Market by Grady Campbell. In 2022, Gauge ranked in the top 5 out of 517 private equity firms in the HEC Paris – Dow Jones Small-Cap Buyout Performance Ranking. For more information, please contact Andrew Peix, Managing Director of Business Development, at apeix@gaugecapital.com.
Disclaimer: From time to time, Gauge may be recognized or ranked by independent third-party rating services or publications. Such recognitions or rankings are generally based on information prepared or submitted by the recognized advisory firm, and are usually limited only to those advisory firms who choose to participate in such surveys. Any third-party recognition or ranking that may be included should not be construed as a guarantee that any client or prospective client will experience any specific level of investment performance or receive any specific level of customer service, as a result of such recognition or ranking. Furthermore, any such recognition or ranking should not be construed as an endorsement by any of Gauge’s clients. As such, clients and prospective clients should not put undue reliance on any of these statements.
Contact: Candice Votke
516.640.8197
candice@rosengrouppr.com
