Hungary-based Craft raises €12.2M to become the go-to writing tool for companies

Budapest-based Craft, a software company that specialises in the fields of mobile apps and productivity tools, announced on Monday that it has raised $12.2M (approximately €12.2M) in a Series B round of funding.

The investment was led by EBRD Venture Capital, with the participation of existing investors Creandum and InReach Ventures.

Fredrik Cassel of Creandum says, “Craft Docs is a company building a very unique product with some of the strongest user love and engagement that we’ve seen in the productivity space globally. Since Creandum’s first investment two years ago, we’re particularly impressed with the transformation from delivering value to single users, to the current offering which is empowering entire organisations – including our own.”

The Series B investment comes after the company raised a Series A round of $8M in April 2021, led by Creandum with the participation from Gareth Williams, co-founder of tech unicorn, Skyscanner.

Capital utilisation

Craft mentions in a statement that the proceeds will enable them to continue building high-quality software, expand its workforce, and deliver more “great” features.

Balint Orosz, Craft’s founder and CEO says, “Craft is a significant evolution in the world of docs. We enable our customers to create an entirely new type of document format, which is powerful, beautiful and shareable. Our $12.2M raise demonstrates the confidence in the quality and growth potential of Craft. The investment allows us to continue building out our team with the very best talent, which is a very strong position to be in.”

What does Craft offer?

Founded in 2019 by Balint Orosz, Craft is a mobile-first, writing tool with full features across various platforms. The company currently has over one million instals, most of them from customers in the US, UK, Japan and Germany.

Frustrated with his experience of creating and sharing documents in existing apps, Orosz says he went on to create Craft Docs, a cradle-to-grave writing tool that allows users to write, store and share documents seamlessly and quickly. Balint is focused on accelerating the development of Craft Docs to become the go-to writing tool for individuals, teams and companies.

According to the company, Craft is already being used for a wide range of use cases in a number of different corporate sectors, including marketing, engineering, and human resources.