A Wilmington-based startup has successfully completed its latest capital raise, netting $2.8 million – more than it anticipated.
Ohanafy is a craft beverage management software launched last year. Its founder, Natalie Waggett, had previously worked for nCino and embarked on the venture after realizing small breweries often didn’t have the tools necessary to keep tabs on their inventory and other systems.
The oversubscribed investment round was led by Cape Fear Ventures and other friends and family of the startup, according to a press release shared Thursday.
Funds will be utilized to allow Ohanafy to gain market share, attract talent and invest in product innovation.
“We are positioned well to grow this business at a pace to keep up with the demands of the craft beverage industry. We understand the number one focus our customers have, which is achieving greater profit margins,” Ohanafy CEO, Ian Padrick, said in the release. “By raising this capital we can further invest in innovations and product lines that will streamline our customer’s operations and provide them with greater transparency into their business.”
Ohanafy is the only provider in the craft beverage industry built on the Salesforce platform, the release states.
With 16 team members, the startup has been fine-tuning its software which is designed to help breweries increase their profitability
“With increased competition, regulation, and economic impacts to the craft beverage industry, suppliers, breweries, distributors, and retailers must adopt new innovative methods to improve sales, inventory visibility, operational efficiency, and margins,” Richard Stroupe, managing partner at Cape Fear Ventures, said in the release. “Utilizing analytics, automation, and artificial intelligence, Ohanafy offers a world-class digital transformation platform. We are thrilled to support Ohanafy’s growth and watch their vision for the next-generation craft beverage cloud come to life.”