Total amount raised
$130.3 Millions
Latest funding date
08/01/2022
Location
Bevi has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The company offers innovative office water dispensers and coolers, emphasizing sustainability and customization.
Keep reading to explore the intricacies of Bevi's fundraising journey and the investors backing this forward-thinking platform.
What Is Bevi?
Bevi, founded in 2013, provides smart, bottleless water dispensers for offices and other commercial spaces. The company focuses on sustainability and offers customizable hydration options, including still and sparkling water with various flavors and enhancements.
Operating in cities across the USA, parts of Canada, and recently in the United Kingdom and Ireland, Bevi connects directly to a building’s water supply to deliver filtered water. The company aims to simplify hydration while promoting environmental responsibility.
Unfortunately, the names of the founders and the number of employees are not available from the provided sources.
How Much Funding Has Bevi Raised?
- Seed Round
- Amount Raised: $1.5M
- Date: May 1, 2015
- Lead Investors: Tamarisc Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch their initial product offering.
- Grant
- Amount Raised: $150K
- Date: Mar 11, 2015
- Lead Investors: Massachusetts Clean Energy Center
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's clean energy initiatives.
- Convertible Note
- Amount Raised: $100K
- Date: Jan 27, 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure initial funding for product development.
- Series A
- Amount Raised: $6.5M
- Date: Dec 3, 2015
- Lead Investors: Horizons Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale production and expand market reach.
- Series B
- Amount Raised: $16.5M
- Date: Jul 13, 2017
- Lead Investors: Trinity Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and increase market penetration.
- Series C
- Amount Raised: $35.5M
- Date: Jan 23, 2019
- Lead Investors: Bessemer Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and enter new markets.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: Jul 26, 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and development.
- Series D
- Amount Raised: $70M
- Date: Aug 9, 2022
- Lead Investors: Cowen Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To nearly double headcount and transition to a more sustainable supply chain model.
Total Amount Raised: $130.25M
Current Valuation: Not publicly disclosed
Key Investors
The information requested about the major investors in Bevi, including their details, investment focus areas, and notable investments, was not found in the provided sources. The sources either did not contain relevant information or were inaccessible due to security verifications or other technical issues.
Here is a summary of the available information:
- Cowen Sustainable Investments
- Details: Cowen Sustainable Investments is a growth investment platform.
- Investment Focus Areas: Sustainable and environmentally friendly technologies and companies.
- Notable Investments: Bevi.
Unfortunately, further details about other major investors, their focus areas, and notable investments were not available from the provided sources.
What's Next for Bevi?
Bevi's future looks promising as the company plans to nearly double its headcount, hiring up to 100 people in various roles such as sales, marketing, hardware, operations, and software. This expansion reflects the growing demand for sustainable hydration solutions and positions Bevi to capitalize on the shift away from single-use plastic bottles.
With a successful $70 million Series D investment, Bevi is well-positioned for future fundraising opportunities. The company's growth trajectory suggests it may continue to attract significant investment, potentially leading to further expansion and market penetration.
However, scaling operations and maintaining product quality could present challenges. As Bevi grows, it will need to navigate these hurdles while competing with established beverage companies. The company's commitment to sustainability and innovation will be crucial in overcoming these obstacles and achieving long-term success.
Use Clay to Get Funding Data
Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like Bevi and gather other critical business insights. Sign up for free and start making informed decisions today.
