BlueCart's Exponential Growth Attracts $4M in Funding from Silicon Valley Venture Capital Firm
With over 2,200 restaurants and suppliers on the platform in just over a year of operation, we were bound to attract a little outside attention… Today, we are happy to announce that Blue Run Ventures (early investors in PayPal and Waze, to name a few) recently led a $4 million Series A investment in BlueCart. (formerly Improvonia)
Nothing much has changed around the office (Konstantin got an extra topping on his salad yesterday–we were shocked), but great things are coming for our users. For starters, we’re expanding. We’re hiring more people in more cities to make sure we can handle demand and keep our users happy. We’ve been national for a while in the virtual sense. Now, if you’re outside our home base in DC, we’ll literally see you soon.
Side note: If you’re interested in working for us, read about us, and then head over to the jobs page to see where you’d fit in.
On top of that, we’ve been listening to users for the last year and have some really incredible features we’ve been dying to add to the app. Now, we’re using the new funding to make our users’ wish-list a reality. We feel kind of like the guy who spends the bulk of his Christmas bonus buying presents for the family. It’s a good feeling.
Lastly, this funding means one big thing: BlueCart is here to stay. As an early startup, we heard that more than a few folks were nervous about using something new that could be gone tomorrow. Let’s put those fears to rest. We started BlueCart to simplify ordering, and improve relationships between restaurants and purveyors. Our mission hasn’t changed, and we’re not going anywhere.
If you want to read the “official” press release, here it is:
DC Food Tech Startup Raises $4 Million in Series A Funding Round
New Capital Earmarked for High Growth and Continued Build-Out of Unique Platform for Online Ordering and Communication in Restaurant Supply
JULY 28, 2015—Washington, DC – BlueCart (formerly Improvonia), a DC-based startup with an online web/mobile platform that allows restaurants to place all their orders to all their suppliers in one click, while at the same time automatically simplifying and organizing those orders for suppliers, today announces that it has raised $4 million in Series A funding from a group led by Silicon Valley VC firm Blue Run Ventures (BRV).
The new funding comes on the back of tremendous growth since the company first launched in July 2014. After just a year online, over 2,200 restaurants and suppliers are currently on the platform and hundreds added each month. The dollar value of orders placed through the system was in the millions before BlueCart’s first birthday, and the aggregate number of orders has doubled on a near-monthly basis since launch.
BlueCart (formerly Improvonia) plans to use the new funds to expand to new cities, hire more user-facing employees, and continue to build-out its ordering platform in response to user requests for specific features.
“Blue Run Ventures invested in BlueCart (formerly Improvonia) because we saw the company stepping in to solve very real problems in the food industry with a unique, much wanted solution,” said Jonathan Ebinger, General Partner at BRV, “By enabling better communication between buyers and suppliers, the company is adding efficiencies and we are seeing restaurants and suppliers respond by signing up in droves.”
Co-founder and CEO Konstantin Zvereff says that BlueCart’s success is based on the fact that the platform doesn’t favor one side of the supply business over another: “We built BlueCart to be good for both buyers and suppliers. This industry is about relationships and communication. Our goal is to expand on that, which is why everyone from sales reps to chefs say they love the app.”
About BlueCart (formerly Improvonia)
BlueCart is the free app that lets restaurants, hotels, and food service operators place all their orders to all their suppliers in one click. We build better relationships in the food industry by giving chefs and sales reps a simple communication tool that saves them time, and allows them to focus on what matters most to their businesses. Just one year after launching in July, 2014, there are over two thousand accounts on the platform, including major hotel chains and hospitals. More information online at BlueCart.com.