Gauge Capital has acquired Craftable, an SaaS platform serving the hospitality industry.
Craftable’s software is used by operators in the hospitality, food, beverage, and entertainment industries to increase revenues and reduce costs by connecting purchasing, recipes, inventory, sales, accounting, and data analytics. Company owned brands include Bevager, used for beverage ordering, invoicing and inventory management; and Foodager, used for menu engineering, recipe costing, price comparison, purchasing and invoice management.
According to Craftable, users of the company’s products can boost revenues while also lowering pour costs by 3% to 5% and food costs by 2% to 3%. Today, more than 50,000 monthly active customers use the company’s SaaS platforms. Craftable, led by co-founder and CEO Samuel Zats, was founded in 2015 and is headquartered northwest of Dallas in Farmers Branch, Texas.
“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 Mr. Zats. “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 has a distinguished reputation in the hospitality sector, enterprise-grade capabilities, and a highly scalable technology platform,” said Tom McKelvey, a 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.”
Headquartered near Dallas in Southlake, Texas, Gauge Capital makes control and shared-control investments in North American-based companies that have at least $7 million of revenue and at least $5 million of EBITDA. Typical transaction types include buyouts, recapitalizations, divestitures, privatizations, consolidations, and growth capital investments. Sectors of interest include business services, food and consumer, government and industrial services, healthcare, and technology.
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