Provi Announces $75M In New Funding On $750M Valuation To Take The Alcohol Industry Online
Summary
"Our marketplace allows retailers to search, shop and discover millions of products enabling them to better communicate, track inventory, and restock than ever before," said Provi CEO, Taylor Katzman. Amidst the hospitality industry facing a labor shortage and an annual doubling of products on the market, Provi has experienced 3x growth over the past year and with this latest investment, the company predicts that it will increase its revenue by 20x in the next 12 months. "We believe Provis talented team has already changed the way the beverage alcohol industry does business by enabling wholesalers to provide retailers with more efficient access to the products and brands they need. Weve seen similar digitization trends, and follow-on benefits throughout the value chain, in our consumer marketplace portfolio companies, and we are thrilled to back Provi on the B2B side." 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.