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Nov. 22, 2022
ProviChief Product OfficerDavid Herman
Founded in 2016, Provi's mission is to bring greater efficiency to the beverage alcohol industry and the existing three-tier system. In early 2022, Provi and SevenFifty joined forces to create a unified best-in-class marketplace and generate impact at scale. Leveraging data-driven insights and user behaviors across a single marketplace, the company developed a robust product roadmap aimed to optimize the connection between each tier. Over the last several months, Provi released significant new marketplace features across product discovery and order communication.
The company will continue to invest in the development of its product offerings and overall user experience as part of its ongoing commitment to bring more efficiency to the three-tier system. "Beverage alcohol's ecosystem is complex, and each tier has different needs from digital solutions — which Provi will continue to solve for," said Dave Herman, Provi's Chief Product Officer. "Building new features and onboarding product specialists is a testament to our commitment to serving each tier and pushing innovation forward for the wider sector."
Provi's new marketplace features such as price filters, grape variety listings and filters, expanded product descriptions, next month's pricing, and verified-in-stock badges have enabled trade buyers to more efficiently discover products and communicate orders with their wholesale partners. Trade buyers in nearly all U.S. markets have leveraged Provi's solution to streamline their operations.
"As the buyer for a major New York wine store, Provi is an essential tool in my daily work life," shared Aaron Comminos, Wine Buyer for Mister Wright Fine Wines & Spirits. "It streamlines the order process, reduces error and facilitates speed and efficiency in reordering products. Provi is also my first reference for new product acquisition. Regardless of whether I am searching for a specific product or a broader product category, Provi is my go-to resource because it provides the fastest and most accurate results."
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Developing an impactful and valuable experience for distributors is also a core focus of Provi. The company recently announced additions to its Distributor Division and its new Director of Product, Distributor Experience will spearhead further enhancements to its wholesaler offerings. Alongside a more robust marketplace experience for trade buyers, the company launched new features, such as account applications, for its distributor partners. With Provi's new account application feature, wholesalers now have an easy way to onboard new trade buyers and increase order volume using the Provi marketplace.
"As part of the digital evolution of the beverage alcohol industry, it's imperative that distributors have an online presence and connection with their retail buyers," explained Kurt Leinauer, Vice President & General Manager, Lohr Distributing. "Lohr Distributing is committed to strengthening our relationship with our customers, and our partnership with Provi and its digital solutions enable us to do just that. Having our up-to-date portfolio on the Provi marketplace plus access to SevenFifty's distributor solutions like sell sheets and relationship management tools makes it seamless for our sales reps to digitally connect with our customers and become a trusted, reliable resource throughout the beverage buying process."
Alongside trade buyers and distributors, Provi has optimized the marketplace to increase brand awareness and education for suppliers. Under the leadership of SVP Strategic Partnerships, Andy Berman, and senior executives formerly of Meta and GoPuff, the company will continue to build out its supplier programming for enterprise and SMB brands.
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To learn more about Provi visit: https://www.provi.com/
About Provi (www.provi.com)
Provi is the largest online marketplace that simplifies the complex process of ordering wholesale alcohol by connecting buyers, distributors and suppliers. Active in key markets throughout the U.S., Provi's robust, online marketplace improves communication and efficiency for on- and off-premise buyers, distributors and suppliers. As of 2022, 10 percent of licensed retailers in the U.S. are on the marketplace. Founded in 2016 and headquartered in Chicago, Provi has received a total of $125 million in funding, is valued at $750 million and has recently been named an Emerging Unicorn by Crunchbase. The company also received Built In Chicago's Best Places to Work recognition in 2022. In 2022, Provi joined forces with SevenFifty, which included the Beverage Media properties with industry legacy dating back to the repeal of prohibition, along with SevenFifty Daily, an award-winning industry publication discussing the beverage alcohol business and culture.
Filed Under: Business
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