While living in California, Rory Crawford began excitedly working on a global wine app in his spare time—and in the process was met with a host of hassles. As a licensed retailer, he found it incredibly difficult to purchase products, manage information relating to orders, timing supply replenishments and track spending over time. Soon after, Crawford trekked out to Massachusetts and enrolled in Harvard Business School, where he met two individuals that wanted to solve the same problem. So last March, he and two MIT computer science engineers launched BevSpot: an online tool that helps bar and restaurant managers keep track of their inventory and spending while also enabling distributors to more efficiently take orders and make sales. The startup has been on a consistent growth spurt since then—so much so that both Crawford and CTO Alex Lesman opted to take a hiatus from school to focus on their venture.
Until recently, BevSpot was working out of the Harvard Innovation Lab. But in December, the team made a move to a new office in Downtown Crossing. It was about time, too: Since last summer, the team has tripled from four to 12 people, and Crawford tells me if things go according to his plan, the company will have 20 to 30 employees by the end of 2015.
Shortly after it was founded, BevSpot raised $20,000 from the student-run Dorm Room Fund, and following its product launch in August, the company banked a $700,000 seed funding round. Now, Crawford revealed that Harpoon Brewery co-founder Rich Doyle invested in BevSpot at the end of 2014, and is now also acting as a strategic advisor for the startup. Other investors in the company include Robert Doris of Accanto Partners (also a board member) and former NFL cornerback/Harvard MBA candidate Domonique Foxworth.
Meanwhile, BevSpot has begun working with a number of restaurants and several local liquor distributors, such as such as M.S. Walker, Horizon and Martignetti Companies. As of last summer, BevSpot had just two to three users—and now, that number has spiked to about 50. Crawford told me that the company has been steadily growing its footprint, adding 10 accounts per week. Currently, he said that between 20 and 25 clients are doing inventory and ordering in BevSpot every week. And in the next few months, the company aims to have several hundred users on board.
While there will always be a free element to BevSpot’s product, Crawford revealed that BevSpot will start charging for inventory services later this month, adding that the team is excited to begin generating revenue.
Once BevSpot has established itself firmly in the Boston area, the startup plans to work closely with distributors to eventually expand to other New England markets later this year.
Image of bartender mixing drink via Shutterstock.
