News

Water-dispensing kiosk maker Bevi raises $35M

January 28, 2019

Bevi, a company that develops smart water dispensers, has raised $35 million in a Series C funding round led by Bessemer Venture Partners, with ongoing support from Horizons Ventures and Trinity Ventures, according to a press release. The company will use the funding to continue expanding throughout the U.S. and Canada, as well as to boost research and development efforts to add more beverage personalization. 

Bevi hooks up to an existing water line to provide customizable still, sparkling and flavored water on demand. The dispenser is designed for offices and commercial spaces; users may choose still or sparkling water, add and mix flavors, and control flavor strength using the touchscreen.

The Bevi dispenser, which comes in both floor and countertop models, is also internet-connected and automatically notifies technicians when a dispenser needs servicing or a flavor refill. Bevi's flavor portfolio includes low- and zero-calorie natural flavors ranging from lime mint to strawberry lemongrass.

Bevi reduces office beverage costs by 50 percent or more, according to the press release, while saving more than 30,000 bottles per machine annually. With more than 120 percent revenue growth in 2018, Bevi has thousands of customers across a variety of industries, according to the press release. 

Kent Bennett, partner at Bessemer Venture Partners, will join Bevi's board of directors.