Provi, a Chicago IL-based online ordering platform for the for the beverage alcohol industry, raised $75M in Series C funding.
The round, raised at a valuation of $750M, was led by D1 Capital Partners with participation from Bessemer Venture Partners, Nosara Capital and CPMG and Instacart President Nilam Ganenthiran, who was appointed to Provi’s Board of Directors. A $25M Series B funding earlier this year was led by CPMG, with participation from Bessemer and Nosara Capital.
The company intends to use the funds to expand throughout the market, hire and scale its platform.
Led by Taylor Katzman, CEO, Provi provides an online marketplace that streamlines the beverage ordering process between retailers and distributors via its communication platform. It allows restaurants and bars to order all their beverages in one place, instead of ordering via phone or paper invoices from 8-20 distributors, which saves each on-premise establishment 20 staff hours per month on average.
The company has relationships with 85 percent of major US distributors, including Breakthru Beverage and Empire Merchants, and has retail customers across the United States.