What is Plum?
Plum is at the forefront of reimagining the wine-by-the-glass experience within the hospitality sector. Its proprietary appliance is engineered to serve wine precisely as the winemaker intended, offering hotels a sophisticated method to elevate the in-room guest experience. The company has established key partnerships with prominent hotel brands, including Four Seasons, St. Regis, Waldorf Astoria, Conrad, Sheraton, Westin, Auberge, Gemstone Collection, Woodside, and Rosewood flags, underscoring its appeal to luxury and premium hospitality providers. Plum's solution not only enhances guest satisfaction but also drives profitability through its unique, stylish, and efficient service model.
How much funding has Plum raised?
Plum has raised a total of $9.3M across 2 funding rounds:
Series A
$9M
Debt
$350K
Series A (2017): $9M with participation from Khosla Ventures and Las Olas VC
Debt (2020): $350K led by PPP
Key Investors in Plum
PPP
Public-Private Partnership
Khosla Ventures
Khosla Ventures provides venture assistance and strategic advice to entrepreneurs working on breakthrough technologies, focusing on a broad range of areas including consumer, enterprise, AI, fintech, semiconductors, health, agriculture/food, sustainable energy, and robotics.
Las Olas VC
Las Olas Venture Capital focuses on backing founders developing AI and software applications aimed at modernizing outdated business workflows, typically investing between $1.5 million and $3 million in seed-stage companies with a preference for SaaS and vertical AI industries.
What's next for Plum?
With its recent major strategic investment, Plum is poised for significant expansion. The company's focus on enterprise-level solutions for the hospitality industry, coupled with its established relationships with leading hotel chains, suggests a strategic push towards broader market penetration. Future developments may include enhancements to the appliance's technology, further integration into hotel operational systems, and the cultivation of new partnerships. The ongoing capital backing will likely fuel research and development, sales and marketing initiatives, and operational scaling to meet increasing demand for premium, automated beverage service solutions.
See full Plum company page
