Tuesday, April 16, 2024 Apr 16, 2024
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Southlake Private Equity Firm Gauge Capital Invests in Dallas-based Craftable

Plus: Delivery services PICKUP Now and Point Pickup Technologies merge; Introducing Irving-based Hyosung Innovue’s Cajera Pivot Recycling ATM Series; and more.

The Fund III investment looks to boost Craftable’s expansion within the hospitality industry. Gauge Capital Co-founder and Managing Partner Tom McKelvey, Principal Garrett Fair, and Vice President Sam Yang joined Craftable’s Board of Directors as part of the transaction. 

Craftable’s four analytic platforms provide users with real-time data on sales, cost, inventory, labor, and even recipes to help them more efficiently run their businesses. It says its Bevager and Foodager platforms can reduce pour and food costs by 3-5 percent and 2-3 percent, respectively. 

“We are excited to partner with Gauge for the next chapter of Craftable’s growth,” Craftable Co-founder and CEO Samuel Zats says. “We look forward to leveraging the resources and support from an investment partner with significant enterprise software expertise while maintaining our relentless focus on the customer experience that has always been at the core of Craftable’s success. Gauge’s growth investment in the business and aligned focus on supporting our customers will help us to accelerate our product innovation, execute our sales strategy and further build our impact in the market.” 

Founded in 2015, Craftable has 50,000 active monthly users, including major hospitality entities like José Andrés, Tao Group Hospitality, bartaco, Major Food Group, Front Burner Society Brands, and Kimpton Hotels. 

“Craftable has a distinguished reputation in the hospitality sector, enterprise-grade capabilities, and a highly scalable technology platform,” McKelvey said. “We couldn’t be more excited to partner with the Craftable team to realize our shared vision for the future of hospitality innovation.” 

As a middle-market private equity firm, Gauge Capital manages more than $2 billion in capital, and its current portfolio features 23 organizations, including Children’s Choice, Comprehensive EyeCare Partners, Exigo, and Urology America. It also placed fifth out of 517 private equity firms in the 2022 HEC Paris – Dow Jones Small-Cap Buyout Performance Ranking.  

Dallas-based private golf and country club operator Invited donates $175,000 to local youth and health organizations.

Invited CEO David Pillsbury presented the individual donations to First Tee Greater Dallas ($55,500), First Tee Fort Worth ($50,500), and the Momentous Institute ($68,900) Tuesday at a community partner celebration at the Constellation Club in Irving.  

The donations were part of more than $250,000 generated for local charities by the Invited Celebrity Classic presented by Choctaw Casinos and Resorts held in April at the Las Colinas Country Club. This year’s tournament fielded 78 PGA Tour Champions and 40 celebrities like Tony Romo, Emmitt Smith, and Mike Modano. It has generated nearly $500,000 for local charities over the past two years, while its economic impact is estimated at nearly $3 million for the greater Dallas area. 

“It takes a village to make an event like the Invited Celebrity Classic happen,” Pillsbury said. “Through the generosity of our wonderful sponsors, celebrities, and attendees, our tournament generates funds and awareness for First Tee Greater Dallas, First Tee Fort Worth, and the Momentous Institute. These three incredible organizations provide much needed support to the youth in our area. A special thanks to Energy Transfer and Choctaw Casinos & Resorts for their contributions that led to additional donations to the Chahta Foundation and the Boot Campaign.” 

AT&T Byron Nelson Tournament Director Jon Drago shared sentiments on the Momentous Institute’s behalf. 

“We are honored to partner with Invited on both the Invited Celebrity Classic and the AT&T Byron Nelson,” Drago said. “The individuals and organizations in attendance are a great representation of what can happen when good partners get together. It’s what separates us from so many others, as the focus is always on more than the game. Invited should be very proud of what has been accomplished in just the first two years. The future is indeed bright.”  

Delivery services PICKUP Now and Point Pickup Technologies merge to expand foothold in last-mile delivery industry.

The Plano-based PICKUP Now adds its speciality in white glove delivery of larger items to Point Pickup’s nationwide network of over 500,000 flex workers who provide enterprise-only white label delivery and pick and pack services. The combined entity can now fulfill the complete needs of clients ranging from the on-demand delivery of small parcels to heavy pieces of furniture. 

 “Our collaboration with Point Pickup sets the stage for scalable growth, as we continue to enhance our solutions and meet the evolving needs of the dynamic on-demand logistics landscape,” CEO PICKUP Now CEO Brian Kava said. “With the synergies brought about by this merger, we are ready to help enterprise businesses unlock the ultimate last-mile experience for deliveries of any size.”   

PICKUP Now partners include At Home, World Market, HomeGoods, and Big Lots. 

Introducing Irving-based Hyosung Innovue’s Cajera Pivot Recycling ATM Series.

The ATM series looks to give stores safe cash management, increased foot traffic, reduced labor costs, and cash handling responsibilities. When paired with Hyosung’s financial services platform TangoNet, the three new ATMs in the line will provide customers with the power to deposit cash, pay rent or bills, order a money order or wire transfer, and even buy or sell cryptocurrency. The machines enable cash-in transactions for all denominations and recycling for up to three denominations. 

The ease of access and versatility of the Cajeras will allow those who are unbanked or underbanked—which Hyosong says is 19 percent of the American population—to more seamlessly solve financial matters. 

“The Cajera Pivot Series is our latest innovation, solidifying Hyosung Innovue’s leadership position in the retail ATM market,” said Chad Young, executive vice president of sales at Hyosung Innovue Americas, the North American subsidiary of South Korea-based Hyosung TNS. “The launch of the Cajera Pivot Series demonstrates our commitment to our customers and the ever-changing retail landscape. Furthermore, Cajera’s integration with TangoNet will impact our customers and partners by unlocking incredible efficiencies and generating all-new revenue streams.” 

Since 2020, Hyosung has deployed nearly 900,000 units, facilitated more than 13 billion transactions, and generated more than $18.5 billion in business revenue. 


<strong>Garrett Tarango</strong>

Garrett Tarango

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