Provi Valuation, Funding & Investors

Provi is valued at $750M as of September 2021.

See full Provi profile

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

Provi Overview

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

United StatesChicago, IL

Website

provi.com

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

Provi valuation by funding round
DateStageValuation
Sep 2021Series 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

Provi funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Sep 2021Series CD1 Capital Partners (lead); Bienville Capital; Bessemer Venture Partners; Interplay; CPMG; Nilam Ganenthiran; Nosara Capital$75M$750MProvi 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 2021Series BCPMG (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 2020Series ABessemer 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 2018SeedHPA (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 2016SeedHPA (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

Investors in Provi by funding rounds participated
InvestorHQRoundsRoleFirst check
Bessemer Venture PartnersUnited StatesSan Francisco, CA3LeadApr 2020
InterplayUnited StatesUnited States3ParticipantMay 2018
Nosara CapitalUnited KingdomLondon3LeadApr 2020
HPA (Hyde Park Angels)United StatesChicago, IL2LeadDec 2016
Ludlow VenturesUnited StatesDetroit, MI2ParticipantDec 2016
CPMGUnited StatesDallas, TX2LeadFeb 2021
Hyde Park Venture PartnersUnited StatesChicago, IL2ParticipantDec 2016
Bienville CapitalUnited StatesNew York City, NY1ParticipantSep 2021
Sandalphon CapitalUnited StatesChicago, IL1ParticipantMay 2018
FJ LabsUnited StatesNew York City, NY1ParticipantApr 2020

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Provi Competitors

Provi competitors include listed companies like Upwork and Izumi Co, and private ones like Reibus, Tul, Medikabazaar and Globality.

Public and private companies comparable to Provi
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
ReibusUnited StatesAtlanta, GAPrivate--$750M-
TulColombiaBogotáPrivate--$800M-
MedikabazaarIndiaMumbaiPrivate$166M$3M$700M4.2x
GlobalityUnited StatesSan Francisco, CAPrivate--$900M-
UpworkUnited StatesUnited StatesPublicly listed$788M$180M$1.1B1.1x
Izumi CoJapanJapanPublicly listed$3.7B$300M$1.4B0.6x

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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Hitejinro$1.8B$185M0.7x0.8x7.3x5.9x
Ixigo$128M$8M5.0x4.5x83.7x57.8x
WeBuyCars$1.6B$90M0.5x0.5x9.7x8.6x
AUCNET$412M$63M1.4x1.3x9.3x7.5x
Olvi$766M$125M1.1x1.0x6.9x6.3x
EverQuote$693M$62M0.9x0.8x9.9x5.5x
Bengo4.com$105M$19M7.7x6.9x43.8x33.0x
Hemnet$156M$78M4.8x5.2x9.6x11.1x

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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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