Ekos Closes $8 Million Series A Funding Round

The Ekos team is thrilled to begin this new chapter of helping businesses make more.

Message from the CEO

Today, I’m ecstatic to announce that Ekos has raised an $8M Series A funding round, from Noro-Moseley Partners, to continue building out our platform to make all craft food and beverage businesses more efficient. We have always believed that a small to medium size business shouldn’t be stuck using spreadsheets, clipboards, or whiteboards to manage their operations — or, even worse, old clunky ERP solutions like SAP, Microsoft Dynamics, or NetSuite. You started your business wanting to make great products and experiences for people, not be stuck behind a computer trying to remember what it used to feel like to actually make something.
When we started over 5 years ago, we had a dream of helping all the craft breweries in the U.S. That dream quickly grew when we started talking to breweries from places like Canada, Australia, New Zealand, Mexico, and Vietnam who needed our help, too. We knew then that Ekos could be so much more. While we have already been able to help many craft producers all over the world, we are just getting started.

- Josh McKinney, CEO of Ekos

CHARLOTTE, N.C. — Oct. 17, 2019 Ekos, the leader in business management software for independent craft breweries, cideries and wineries, today announced that it has secured an $8 million Series A investment round. This Series A is the first outside investment into Ekos, which has been self-financed to date, and represents one of the Charlotte area’s largest Series A investments in recent history.

 

This funding round is being led by Noro-Moseley Partners, an Atlanta-based venture capital firm that invests in early growth information technology and healthcare businesses with rapidly scaling revenue, a capital-efficient model and a clear pathway to profitability. Alan Taetle, General Partner, and John Ale, Principal, from Noro-Moseley Partners will join the Ekos board of directors.

Ekos partners with more than 1,700 craft producers in 40 countries around the world – including beer, cider, food and wine companies – to manage their day-to-day operations in inventory, production, sales and accounting. Ekos currently serves more than 15% of the craft breweries in the U.S., including popular brands like Austin Beerworks, Breakside Brewery, Hardywood Park Craft Brewery and Wormtown Brewery.

 

Proceeds from this investment will be used to enhance product features for the company’s core alcoholic beverage customers and grow the team of employees that supports these customers. Ekos will also build integrations with best-in-class solutions for the craft manufacturing industry and plans to enhance its offerings with additional requested features and functionality for the food and beverage market. Ultimately, the Ekos solution will function as a “central hub” for craft manufacturing businesses; the company’s future plans include being at the center of an interconnected, Ekos-driven ecosystem of craft manufacturing companies.

 

“We’re truly excited about our Series A, because it means that Ekos will continue to evolve and become a company that will help all artisanal makers,” said Josh McKinney, Ekos CEO. “However, our first love is the craft beer market, and we remain steadfastly committed to those customers and to helping them be efficient and profitable.”

McKinney further explained, “This investment from Noro-Moseley Partners means that we can expand our capabilities and global footprint and bring even more effective solutions to both new and existing customers in the craft manufacturing space, as well as execute on our ultimate vision of creating a new ecosystem for the craft industry.”

 

Ekos provides custom, application-specific features for each business model and functional role, harnessing the power of team effort while delivering a seamless end-to-end user experience. Designed to boost the performance of every person in a craft manufacturing organization, cloud-based Ekos business management software helps manage the key parts of a business – from raw materials to manufacturing processes and finished goods inventory – so that user organizations know what to sell and when.

 

In addition, the comprehensive, integrated Ekos solution simultaneously generates relevant accounting and tax information that also helps ensure legal and regulatory compliance, a common headache for alcoholic beverage companies.

 

“While Ekos is already positioned as the leading technology platform for breweries, cideries and wineries, we share a much bigger vision with the company in terms of expanding more broadly into food and beverage,” commented Alan Taetle, General Partner at Noro-Moseley Partners. “We look forward to partnering with the entire Ekos team to deliver innovation to customers that will help grow their businesses.”

About Ekos

Founded in 2014 and headquartered in Charlotte, N.C., Ekos is the leader in business management software for independent craft manufacturing companies. Ekos partners with over 1,700 craft producers in 40 countries to manage their day-to-day operations in inventory, production, sales, and accounting. The company’s cloud-based solutions include Ekos Brewmaster, an all-in-one brewery management solution; Ekos Cidermaker, custom software for cidery management; Ekos Winemaker, an integrated winery management solution; and Ekos Maker, a comprehensive software solution for craft makers of all kinds. Ekos software is designed and built to help organize and operate craft manufacturing businesses more efficiently and profitably, delivering insights unavailable from spreadsheets and traditional methods.

 

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Josh