Carats & Cake is a New York-based provider of a financial operating system for the events industry that delivers a revenue optimization platform for venues and property groups. Led by CEO Jess Conroy, the platform includes purpose-built marketing, sales, and customer conversion tools covering contracting, invoicing, and payments, connecting venue discovery through to payment. Its solutions are designed to complement existing CRM and POS systems used on the hotel booking side of the business, addressing workflows commonly run separately. The company plans to use new capital to expand product, engineering, and sales teams as it brings end-to-end revenue optimization software to venues and property management firms. Carats & Cake raised a $10.6M Series A, bringing total equity raised to $19.9M. It also maintains an additional $10M debt facility. Carats & Cake provides an integrated marketing platform combined with digital invoicing and Buy Now, Pay Later (BNPL) financing tailored to event venues and property groups. Its core product links discovery and marketing with point-of-sale financing so venues receive payment up front while consumers pay interest-free installments. The company reports 53% of consumer payments across event types now utilize its BNPL solution, and venues using its invoicing tool see 81% of invoices paid on time (45% paid well ahead of due date). Hosts who select BNPL see average event value increase by 60%. The company says the financing and partnerships improve cash flow, accelerate conversions, and reduce time spent chasing payments. Today’s funding will support accelerating hiring and expanding its role as a full-stack partner to properties and venues.

Total raised

$30M

Funding rounds

2

Latest round

Series A

Latest activity

Sep 2022