About Draft
Draft is a company based in Canada founded in 2017.. Draft has raised $9.13 million across 2 funding rounds from investors including Khosla Ventures, Y Combinator and Alex Norman. Draft offers products and services including Content Writing Platform and AI Tools. Draft operates in a competitive market with competitors including Grammarly, Ginger Software, Contents, Matter and QuillBot, among others.
- Headquarter Canada
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Sectors
Media & EntertainmentTechnology
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$9.13 M (USD)
in 2 rounds
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Latest Funding Round
$9 M (USD), Series A
Apr 13, 2021
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Investors
Khosla Ventures
& 4 more
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Employee Count
Employee Count
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Products & Services of Draft
Draft offers a comprehensive portfolio of products and services, including Content Writing Platform and AI Tools. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
On-demand tool for creating and revising blog posts and marketing content
Free AI-driven features for content ideas and brief building
Funding Insights of Draft
Draft has successfully raised a total of $9.13M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $9 million completed in April 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Series A — $9.0M
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First Round
First Round
(17 Mar 2021)
- Investors Count 5
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Apr, 2021 | Amount | Series A - Draft | Valuation | Global Founders Capital , Y Combinator | |
| Mar, 2021 | Amount | Seed - Draft | Valuation | Y Combinator |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Draft
Draft has secured backing from 5 investors, including venture fund and angel investors. Prominent investors backing the company include Khosla Ventures, Y Combinator and Alex Norman. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Early-stage startups are accelerated via funding and educational programs.
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Founded Year | Domain | Location | |
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Venture capital firm focused on early-stage startups
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Founded Year | Domain | Location | |
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Early-stage startups are funded by this venture capital firm.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Draft
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Draft
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Draft Comparisons
Competitors of Draft
Draft operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Grammarly, Ginger Software, Contents, Matter and QuillBot, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Provider of AI and cloud-based writing assistance platform for improving writing and communication
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| domain | founded_year | HQ Location |
Grammatical skills are enhanced via contextual corrections and personalized lessons.
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| domain | founded_year | HQ Location |
Developer of an AI-based content-writing platform
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| domain | founded_year | HQ Location |
AI-driven audio-dating platform with voice profiles and matchmaking is provided.
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| domain | founded_year | HQ Location |
An AI-based paraphrasing tool is provided for text processing.
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| domain | founded_year | HQ Location |
AI-driven translation and localization platform for enterprises is provided.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about Draft
When was Draft founded?
Draft was founded in 2017 and raised its 1st funding round 4 years after it was founded.
Where is Draft located?
Draft is headquartered in Canada.
Is Draft a funded company?
Draft is a funded company, having raised a total of $9.13M across 2 funding rounds to date. The company's 1st funding round was a Seed of $125K, raised on Mar 17, 2021.
What does Draft do?
Founded in 2017 and based in Canada, Draft operates as an online platform in the content creation sector. Access to various writing jobs is provided for clients, while writers select projects, deadlines, and rates. Services encompass blog posts, social media content, web page copy, marketing emails, and AI-generated materials. The domain draft.co supports these operations.
Who are the top competitors of Draft?
Draft's top competitors include Grammarly, Contents and Ginger Software.
What products or services does Draft offer?
Draft offers Content Writing Platform and AI Tools.
Who are Draft's investors?
Draft has 5 investors. Key investors include Khosla Ventures, Y Combinator, Alex Norman, Global Founders Capital, and N49P Venture Capital.