SevenFifty, a NYC-based provider of web-based and mobile technology solutions for the beverage alcohol industry, raised $23m in Series B funding.
The round was led by Level Equity. In conjunction with the funding, Ben Levin, Founder and Co-CEO of Level Equity, will join SevenFifty’s board of directors.
The company intends to use the funds for:
- continued development of its software and data services that now span nearly every area of the business,
- for hiring across engineering, customer support, sales, operations, and marketing,
- for enhancing the ability to explore future M&A prospects that could boost its tech capabilities and its market reach.
Launched in 2011 by founders Aaron Sherman and Gianfranco Verga, both alcohol and hospitality industry veterans, SevenFifty is a provider of web-based and mobile technology solutions for the beverage alcohol industry that touch every part of the supply chain.
Today, over 90,000 restaurant and retail buyers use the marketplace, which reached nearly $1 billion in sales volume in 2020.
The platform includes:
- Custom ecommerce solutions for distributors and retailers
- A large B2B aggregated marketplace for the U.S. wholesale alcohol trade
- Sales enablement and CRM tools that connect distributors and buyers
FinSMEs
24/05/2021