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- Provi
Provi Valuation, Funding & Investors
Provi is valued at $750M as of September 2021.
Last Provi valuation
$750M
Series C · Sep 2021
Last Provi funding round
$75M
Series C · Sep 2021
Cumulative funding Provi raised
$125M
across 5 funding rounds
Key investors in Provi
Bessemer Venture Partners
Interplay
Nosara Capital
Hyde Park Venture Partners
HPA (Hyde Park Angels)
Ludlow Ventures
About Provi
Provi is a Chicago-headquartered digital marketplace connecting alcohol buyers, distributors, and suppliers across the United States. Launched in 2016, the platform streamlines wholesale ordering for on-premise bars and off-premise retailers in 30 states, capturing 10 percent of licensed U.S. retailers by 2022. Provi integrates with SevenFifty for enhanced content and analytics, serving major distributors like Southern Glazer's Wine & Spirits and thousands of beverage suppliers.
Founded
2016
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Commission
Valuation
$750M (Sep 2021)
Provi Valuation
Provi is currently valued at $750M, based on its Series C in September 2021.
The $75M round was led by D1 Capital Partners, with participation from Bienville Capital, Bessemer Venture Partners, Interplay, CPMG, Nilam Ganenthiran and 1 other investor.
Provi valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Sep 2021 | Series C | $750M |
Provi Funding History
Provi has raised a total of $125M across 5 funding rounds.
Provi's first fundraising round was a $1M seed round in December 2016. The most recent completed round was a $75M Series C in September 2021.
Provi funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2021 | Series C | D1 Capital Partners (lead); Bienville Capital; Bessemer Venture Partners; Interplay; CPMG; Nilam Ganenthiran; Nosara Capital | $75M | $750M | Provi is a Chicago-based technology platform founded in 2016 that connects restaurants, bars, liquor stores, distributors, and suppliers in the beverage alcohol industry through an online ecommerce marketplace, streamlining ordering and communication to save users an average of 20 hours of labor per month. The platform has expanded to over 35 states, partnered with 85% of top U.S. distributors like Breakthru Beverage and Empire Merchants, and secured contracts with national chains including Chili’s, Maggiano’s, Red Robin, and Cheesecake Factory pilots. In 2021, Provi raised $100M across two rounds: a $25M Series B led by CPMG in February and a $75M Series C on September 21 led by D1 Capital Partners with participation from Bessemer Venture Partners, Bienville Capital, CPMG, Interplay, Nilam Ganenthiran, Nosara Capital, and others, achieving a post-money valuation of $750M—a 3.5x increase from prior rounds six months earlier. Total funding reached $125M, positioning Provi as the largest B2B beverage marketplace in the industry. Funds supported market expansion, hiring, retailer acquisition, product development, and scaling operations amid rapid growth. |
| Feb 2021 | Series B | CPMG (lead); Bessemer Venture Partners; Nosara Capital | $25M | - | Provi is a Chicago-based startup providing a digital platform that streamlines alcohol ordering for restaurants, bars, and distributors in the beverage alcohol industry. The Series B round in February 2021 raised $25 million led by CPMG, with participation from investors including Bessemer Venture Partners and others, aimed at supporting growth and platform development. Earlier rounds included seed financings in 2016 ($1.35M) and 2018 ($3.5M) led by Hyde Park Angels. A subsequent Series C round in September 2021 raised $75 million led by D1 Capital Partners at a $750 million valuation, followed by additional funding including a $100 million total across 2021 rounds and a Series D of $32.5 million in November 2023. Total funding raised across all rounds reached approximately $139.4 million by late 2023 from 11 investors. The company has focused on expanding market presence, hiring, and scaling amid competition in the alcohol e-commerce sector. |
| Apr 2020 | Series A | Bessemer Venture Partners (lead); Nosara Capital (lead); FJ Labs; Interplay | $20M | - | Provi is a Chicago-based B2B eCommerce marketplace founded in 2016 for the beverage alcohol industry, enabling retailers to place contactless orders 24/7 with distributors and improving efficiency across the three-tier supply chain. The platform operates in over 35 states, serving restaurants, bars, and stores, and has partnerships like SevenFifty to enhance distributor tools. In April 2020, Provi raised $20 million in its Series A round led by Bessemer Venture Partners and Nosara Capital, with participation from FJ Labs and Interplay, aimed at scaling operations and market penetration. This followed seed rounds and preceded a $25 million Series B in February 2021 led by CPMG with Bessemer and Nosara, then a $75 million Series C in September 2021 led by D1 Capital Partners at a $750 million valuation, bringing total 2021 funding to $100 million with 3.5x valuation growth in six months. By 2021, Provi reported 3x growth over the prior year, with 10% of U.S. licensed retailers using the platform and predictions of 20x revenue increase in the next 12 months, amid industry challenges like labor shortages and product proliferation. Investors include Bessemer Venture Partners (Series A, B, C, D), Nosara Capital (Series A, B, C), FJ Labs, Interplay Ventures, CPMG, D1 Capital Partners, Hyde Park Angels, Hyde Park Venture Partners, Ludlow Ventures, and others, totaling 11 backers. A later Series D in November 2023 raised $32.5 million. |
| May 2018 | Seed | HPA (Hyde Park Angels) (lead); Sandalphon Capital; Interplay; Ludlow Ventures; Hyde Park Venture Partners | $4M | - | Provi raised $3.5 million in a seed funding round on May 18, 2018, led by Hyde Park Angels with participation from Hyde Park Venture Partners, Ludlow Ventures, Sandalphon Capital, and others. This brought the company's total funding at the time to $5 million, following a $1.4 million seed round in 2016. Provi, founded in 2016 by CEO Taylor Katzman in Chicago, operates as a B2B digital platform simplifying the beverage alcohol industry by connecting retailers, distributors, and brands for streamlined operations and better decision-making. |
| Dec 2016 | Seed | HPA (Hyde Park Angels) (lead); Ludlow Ventures; Hyde Park Venture Partners | $1M | - | - |
Who has invested in Provi?
12 investors have backed Provi across its funding rounds, including Bessemer Venture Partners, Interplay, Nosara Capital, Hyde Park Venture Partners, HPA (Hyde Park Angels) and Ludlow Ventures.
Lead investors include D1 Capital Partners, CPMG, Bessemer Venture Partners, Nosara Capital and HPA (Hyde Park Angels).
Provi Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Apr 2020 | ||
| 3 | Participant | May 2018 | ||
| 3 | Lead | Apr 2020 | ||
| 2 | Lead | Dec 2016 | ||
| 2 | Participant | Dec 2016 | ||
| 2 | Lead | Feb 2021 | ||
| 2 | Participant | Dec 2016 | ||
| 1 | Participant | Sep 2021 | ||
| 1 | Participant | May 2018 | ||
| 1 | Participant | Apr 2020 | ||
This data is available for Pro users. Sign up to see all 12 Provi investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialProvi Competitors
Provi competitors include listed companies like Upwork and Izumi Co, and private ones like Reibus, Tul, Medikabazaar and Globality.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $750M | - | ||
| Private | - | - | $800M | - | ||
| Private | $166M | $3M | $700M | 4.2x | ||
| Private | - | - | $900M | - | ||
| Publicly listed | $788M | $180M | $1.1B | 1.1x | ||
| Publicly listed | $3.7B | $300M | $1.4B | 0.6x |
Provi Public Comps
Provi is still privately-owned, but its public comps include Hitejinro, Ixigo, WeBuyCars, AUCNET, Olvi, EverQuote, Bengo4.com, Hemnet, Concha y Toro and Oeneo.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.8B | $185M | 0.7x | 0.8x | 7.3x | 5.9x | |||
| $128M | $8M | 5.0x | 4.5x | 83.7x | 57.8x | |||
| $1.6B | $90M | 0.5x | 0.5x | 9.7x | 8.6x | |||
| $412M | $63M | 1.4x | 1.3x | 9.3x | 7.5x | |||
| $766M | $125M | 1.1x | 1.0x | 6.9x | 6.3x | |||
| $693M | $62M | 0.9x | 0.8x | 9.9x | 5.5x | |||
| $105M | $19M | 7.7x | 6.9x | 43.8x | 33.0x | |||
| $156M | $78M | 4.8x | 5.2x | 9.6x | 11.1x | |||
This data is available for Pro users. Sign up to see all Provi competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Provi
| When was Provi founded? | Provi was founded in 2016. |
| Where is Provi headquartered? | Provi is headquartered in Chicago, IL, United States. |
| Is Provi publicly listed? | No, Provi is a private, VC-backed company. |
| What is Provi's valuation? | Provi was last valued at $750M in its Series C in September 2021. |
| How much funding has Provi raised? | Provi has raised $125M across 5 funding rounds. |
| What was Provi's last funding round? | Provi's last funding round was a $75M Series C in September 2021, led by D1 Capital Partners. |
| Who are Provi's investors? | Provi's investors include Bessemer Venture Partners, Interplay, Nosara Capital, HPA (Hyde Park Angels), Ludlow Ventures, CPMG, Hyde Park Venture Partners, Bienville Capital, Sandalphon Capital, FJ Labs and 2 others. |
| Which companies are comparable to Provi? | Companies comparable to Provi include Reibus, Tul, Medikabazaar, Globality, Upwork and Izumi Co. |
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