North Carolina-based tech startup Ekos raises $21M Series B to streamline the supply chain for craft beverage makers
Ekos, a Charlotte North Carolina-based tech startup that provides business management software for craft beverage makers, has raised a $21 million Series B funding to accelerate innovation, grow its existing platform and forge industry-leading partnerships. The round was led by growth equity firm Catalyst Investors with participation from existing investors Noro-Moseley Partners.
Founded in 2014 by Greg Forehand, Ekos helps craft producers to easily manage their inventory, production, sales, and accounting in one place. With more than 15,000 users on six continents, Ekos helps beer, wine, and cider makers drive efficiencies, power growth, streamline communication, and improve visibility across their businesses.
As a digital hub for all critical business information, the startup also makes it easy to manage day-to-day operations in inventory, production, sales, and accounting. The company was recently named to the Inc. 5000 list in 2021. The startup is also backed by Catalyst Investors and Noro-Moseley Partners. Ekos recently doubled in size in 2021 with key hires across all teams to meet surging demands for its software.
Ekos was the first software solution created specifically with craft producers in mind. Historically, craft businesses relied on manual record-keeping and disconnected systems, which are time-consuming and difficult to navigate. Since 2014, Ekos has provided software solutions that drive efficiencies, streamline communication and give business owners better insights.
Today, Ekos is the number one choice for business management software, serving nearly 2,000 businesses on six continents. 2021 was the company’s most successful year to date, with strong revenue growth and the launch of Ekos Order Hub.
“We see significant potential in the craft industry, but there are currently many disjointed systems and a lack of comprehensive analytics. Ekos’s mission is to connect the supply chain and give business owners the visibility and insights they need to grow,” said Kapil Desai, Partner at Catalyst Investors. “With a stronghold on inventory management data from craft producers, Ekos is uniquely positioned to build the technology that propels the industry forward.”
“Ekos is building a new category of business management software that digitizes the craft supply chain. We are enabling an open and connected platform with the craft producer at the center,” said Ekos CEO Josh McKinney. “Our technology will break down silos and digitally connect suppliers, producers, distributors, and end consumers. We empower business owners by giving them unprecedented access to analytics and benchmarking data so they can make better decisions to grow their businesses.”