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."
About Carats & Cake
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/
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
With the Fed making its third 75-basis-point hike this year, Dalio says greater economic contraction is on the horizon.
“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."
You have just a few weeks to pounce on Treasury I bonds' sky-high interest rate. Also called Series I savings bonds, their interest rate is 9.62%.
In this article, we will look at billionaire Ken Fisher’s top 10 growth stock picks. If you want to explore similar stocks, you can also take a look at Ken Fisher’s Top 5 Growth Stock Picks. Ken Fisher is an American billionaire investor and financial analyst. Mr. Fisher is the hedge fund manager of Fisher […]
Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) CEO Warren Buffett has a knack for making money. It's jaw-dropping returns like this that have garnered Buffett quite the following from professional and everyday investors alike. The easiest way to track what Buffett and his investment team are buying, selling, and holding is to keep tabs on Berkshire Hathaway's Form 13F filings with the Securities and Exchange Commission.
The S&P 500 is down more than 2% since Tuesday’s close. There is reason to believe markets are close to finding a floor.
Chartwell Investment Partners, an asset management company, released its second quarter 2022 investor letter. A copy of the same can be downloaded here. For the second quarter, Chartwell-managed accounts fell in line with their respective index benchmarks, however, the Chartwell Dividend Model outperformed by a significant margin versus its benchmark. Go over the fund’s top […]
With the objective of providing a high-resolution 3D view of their environment, LiDAR (light detection and ranging) sensors are set to be a mainstay in autonomous vehicles. While not all have been proponents of the technology – Elon Musk, for one, has stated in the past that he is not a fan – J.P. Morgan analyst Samik Chatterjee says the “debate around value-add of a LiDAR in a sensing suite has been long settled.” The decision to forgo the use of lidar more revolves around costs rather than per
Carnival (CCL) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
FedEx, Costco, DocuSign are some of the trending stocks in after hours trading on Thursday, September 22, 2022.
Instead of heading for the sideline, Form 13F filings with the Securities and Exchange Commission (SEC) show that most billionaire money managers were active buyers during the first half of the year. What's particularly interesting is that select billionaires have been piling into some of Wall Street's most beaten-down growth stocks. The following three supercharged growth stocks are down as much as 94%, yet billionaires can't stop buying shares of them.
Stock splits have taken over the market this year. Among the high-profile stocks that have split their shares in 2022 are Amazon, Alphabet, and Tesla, three of the most valuable companies in the world. Stock splits don't change the fundamental value of a stock, but they get attention because they make individual shares of a stock cheaper, therefore making it more affordable to individual investors.
After popping briefly yesterday on positive analyst commentary over its 2022 Global Technical Conference performance, Nvidia (NASDAQ: NVDA) stock is trending lower again Thursday — down 5% through 11 a.m. on some curious comments from the company's CEO. Commenting on what some analysts have called the "eye-watering" prices announced for its latest series of GeForce RTX graphics, Nvidia CEO Jensen Huang asserted that "Moore's Law is dead" — and that semiconductor prices are only going up from here. To refresh your memory, Moore's Law is an assertion made by legendary Intel engineer Gordon Moore in 1965, that the number of transistors in an integrated circuit roughly doubles every two years, with the result that semiconductors will get both better and cheaper over time.
In this article, we will be taking a look at the US-China semiconductor war: 10 stocks to watch. To skip our detailed analysis of the rivalry between American and Chinese tech companies, and the stocks impacted by this rivalry, you can go directly to see the US-China Semiconductor War: 5 Stocks to Watch. The United […]
If you're investing in the cannabis industry, you need to be aware of how overly bullish some companies and CEOs are about their prospects. Tilray Brands (NASDAQ: TLRY) falls into that crowd, pumping itself up to be a $4 billion business in just a few years. There are warning signs about Tilray's promises and forecasts that investors shouldn't ignore.
Growth holdouts such as Tesla, Enphase and Shockwave are starting to buckle in the bear market as Treasury yields soar.
NIO Inc. (NIO) closed at $18.35 in the latest trading session, marking a +0.27% move from the prior day.
In this article, we shall discuss the 10 best undervalued stocks to buy now according to billionaire D.E. Shaw. To skip our detailed analysis of Shaw’s history, his investment philosophy, and hedge fund performance, go directly and see 5 Best Undervalued Stocks to Buy Now According to Billionaire DE Shaw. David Elliot Shaw, an American […]
Stocks fell sharply after the Federal Reserve announced Wednesday that it was raising its benchmark rate by three quarters of a percentage point as it battles inflation, with the S&P 500 continuing a slide described by Bespoke Investment Group as its third leg down.
Carats & Cake Announces Series A, Total Financing Reaches $29.9 Million – Yahoo Finance
Company accelerates delivery of revenue optimization software suite for properties