The round was led by Trinity Ventures, with continued support from Horizons Ventures and Tamarisc. The company will use funding to continue to expand across the United States, support the launch of its new countertop beverage dispenser model, and accelerate the development of IoT-enabled technology that allows consumers to customize their beverages at the point of use.
Bevi’s mission is to make disposable bottles and cans obsolete by creating a delivery platform for healthy tap drinks. Their smart water cooler stores natural flavorings and lets users create custom drinks through a touchscreen interface, with options ranging from basics such as cold filtered water and cucumber water to more creative concoctions such as coconut and peach selters. In addition to the flagship beverage dispenser (which is about the size of the traditional standalone water cooler), they are launching a countertop unit designed for smaller spaces. Both products are intended to completely replace water coolers and bottled and canned drinks. In many cases, Bevi reduced the cost of office drinks by 50% or more
With more than 1000% revenue growth in 2016, Bevi has hundreds of corporate clients, including Apple, Netflix, Fidelity and GE. The company is also beginning to expand beyond the office into hotels, fitness centers and schools. The key to Bevi’s success has been to combine minimal user experience in customizing beverages with proprietary software and IoT capabilities that track machine performance and collect data on beverage consumption in real time. Data enables Bevi to proactively re-stock ingredients, streamline operations and collect rich analytics on trends in consumption of drinks.
Patricia Nakache of Trinity Ventures will join the Board of Directors of Bevi. Trinity was an early investor in both Starbucks and Jamba Juice, and a current investor in Bulletproof Coffee. “I am honored and excited to be working with Patricia,” said Sean Grundy, CEO of Bevi. “She shares our vision of building both great products and a meaningful brand, while fundamentally rethinking how people get drinks. We couldn’t ask for a better partner as we accelerated Bevi’s expansion in the U. Oh, S And get a huge boost with the launch of our counter-top unit “That’s right.
“I rarely meet a company with such strong customer enthusiasm at this stage,” says Patricia Nakache. “The Bevi value proposition for employers and employees is unbeatable: cheaper, more customizable and better for the environment. They are also on the market precisely because consumers demand healthier food and beverage options as well as better environmental sustainability. Trinity is thrilled to fuel Bevi’s next stage of growth and innovation “That’s right.
Aman Advani, CEO of the clothing company Ministry of Supply, shared his perspective on Bevi’s unexpected benefits. “When we got our Bevi, we were expecting a replacement for our traditional water coolers-but ended up with a lot more: a gathering place, a fun conversational theme, and really a piece of art. And best of all, we’re hydrated at last!”
Bevi makes a smart water cooler that is becoming a fast favorite among office workers by offering a more fun and eco-friendly way to drink at the workplace. The company was founded in 2013 by MIT and Yale graduates who shared a sustainable vision of providing a healthy drink without the need for a disposable bottle. Visit www for more information. Bevi’s Oh, co
Trinity Ventures is a top-tier venture capital firm that combines business insight, practical expertise and a personal touch to help start-ups win big business. For more than thirty years, Trinity has helped passionate entrepreneurs transform markets and lives with breakthrough ideas. The investment team of Trinity takes a collaborative approach and believes in personal engagement, mutual respect and goal alignment to deliver on-size returns to entrepreneurs and investors. The company is investing in early-stage technology companies with a focus on cloud and mobile infrastructure, software-as-a-service, digital media and social commerce and entertainment. To learn more about the visit: www Trinity adventures Come on,
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