Our investment in Caddy
We are excited to announce that Matchstick Ventures Fund III has completed an investment in Caddy. Caddy is a cloud-based, software-as-a-service platform that unlocks smarter food safety and traceability by automating food processors’ everyday workflows.
Background: Of the approximately 44,000 food processors in the United States, nearly 40,000 of them are still using pen and paper for traceability, costing them money with poor inventory visibility and product waste, time with incorrect and incomplete forms, and confidence with employees who are consistently frustrated by manual processes.
As FDA regulations regarding food safety and traceability become even more stringent, digital processes are becoming more important than ever for vendors wishing to either maintain relationships with retail partners or enter new markets. In fact, many regulations and audits are now not just encouraging, but requiring, digital record keeping.
These manual processes also lead to operational inefficiencies and a lack of system visibility, slowing down small businesses at a time when staff is short and supply chain issues continue in the wake of the COVID-19 pandemic.
Company Specifics: Caddy automates food processors’ everyday workflows, leading the world’s food supply chain into a new era by improving traceability. By providing digital forms and inventory visibility, Caddy is saving food processors time and money while also increasing safety and sustainability.
By providing a simple-to-use mobile interface for employees, Caddy empowers floor operators through improved organization and decreased human error. The digital platform allows for easy audits and performance tracking, increasing efficiency.
As more food processors transfer to digital and away from pen and paper, Caddy also works closely with its customers to seamlessly migrate records and import data. They can configure workspaces to each customer’s particular workflows, and provide both initial training and ongoing support.
We got to know the Caddy team via the Techstars Farm to Fork Accelerator as Ryan was their lead mentor throughout the program. The team is based in Toronto, CA but will plan to have a heavy presence in Minnesota.
Learn more at:https://www.joincaddy.com/