[May 17, 2018] |
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Provi Announces $3.5 Million in Seed Funding
Provi, the eCommerce marketplace helping bars and restaurants order
alcohol more efficiently, announced today a $3.5 million round of
funding led by Hyde Park Angels, Hyde Park Venture Partners, Ludlow
Ventures, Sandalphon Capital, and others. Total investment now stands at
$5 million, which positions Provi to accelerate new market expansions
and to continue innovating its product offering to serve every tier of
the alcohol distribution model.
Traditionally, bars and restaurants have been faced with a
time-consuming and frustrating alcohol-beverage ordering process, which
typically has involved multiple texts, phone calls, and emails. By
creating a straightforward ordering experience that allows customers to
consolidate all their orders, Provi has simplified this process. Using
Provi eliminates the need to place orders individually from each
wholesaler or self-distributed brand and facilitates buyers' ability to
discover new products. Provi's platform also streamlines the
order-receiving process for distributors by using automated
push-to-warehouse order fulfillment, which removes time-intensie data
entry from the process and allows distributors to communicate more
effectively and build stronger relationships with accounts.
"This investment is more than just a validation of our technology and
process, it's a major endorsement of the long hours and significant
effort our team has put in," commented Provi founder and CEO Taylor
Katzman. He added, "We are excited to continue expanding with our
amazing partners and develop new relationships within the ecosystem to
streamline the ordering process for distributors and buyers."
"Provi has been a huge win for us. The platform streamlines the entire
ordering process by allowing our managers to send all orders to all reps
with the click of a button," stated Provi user Tim Ryll, Beverage
Director at Four Corners Tavern Group. "It has drastically increased
efficiencies, and more importantly, gives us time back for other tasks.
We are huge believers in Provi and the solutions they are providing for
age old inefficiencies."
Over the past six months, Provi has increased its user base by 500% and
partnered with large distributors, including, Lakeshore Beverage, and
Eagle Rock Distributing Company, which has aided its growth into new
markets including Colorado, Illinois, and Georgia. The company has also
captured the attention of industry veterans, including AB InBev's former
VP of eCommerce, Nathan Mansperger, who recently joined the Provi team
as the VP of Sales.
About Provi
Provi is an eCommerce marketplace for companies who are passionate about
the business of booze. Provi provides organizations in every tier of the
alcohol distribution system with the tools needed to gain a competitive
edge and increase efficiencies in the product discovery, ordering, and
supplying processes.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180517005137/en/
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