BevSpot, a web-based platform that helps hospitality businesses manage their alcoholic beverage programs, has raised $11 million in a Series B round led by Bain Capital Ventures.
Founded out of Boston in 2014 by a team from MIT and Harvard, BevSpot serves up a suite of mobile tools that lets its users — which include restaurants, bars, nightclubs, and hotels — manage their alcohol inventory and related invoicing. It’s also compatible with point-of-sale systems, so sales can automatically be accounted for.
Ultimately, BevSpot promises to help clients cut their inventory and ordering time, as well as providing analytics on what products are selling (or not) on a week-to-week basis.
“The hospitality industry is one of the last staple industries still operating without world-class, web-based software, forcing individual establishments and the industry as a whole to operate largely offline without access to critical, real-time data,” said BevSpot CEO and cofounder Rory Crawford. “Our goal is to provide every single business in the industry with the insights it needs to become more efficient and successful. We have an opportunity to deliver the most powerful and intuitive software to help move this entire industry online.”
Today’s funding takes the company’s total capital raised to around the $19 million mark, and BevSpot says it will use its latest cash influx to develop new and existing products and grow into new markets.