151: How The SevenFifty Digital Platform Brings New Efficiencies to the Wine and Spirits Industry
SevenFifty is an online platform modernizing and streamlining the wholesale alcohol supply chain, providing specific value to buyers, distributors, and suppliers. SevenFifty improves product discovery for over 35,000 buyers by offering a comprehensive and standardized database with search capabilities for available wines and spirits, organizational tools for improved tasting events, and a simplified credit application process.
For distributors, SevenFifty provides educational and CRM tools and the means to share complete portfolios with current and prospective buyers. The online Ordering platform was created to address the often confusing and disorganized ordering process that members of the team experienced in their previous roles both as buyers in restaurants and retail and as sales reps at distributors.
The system aims to simplify the fragmented process of sending orders through different emails, text messages, and phone calls into one platform, so all orders are easy to reference and track. Built on top of SevenFifty’s current search platform and database of over 500,000 available products, the new ordering platform leverages existing email workflow between buyer and distributor by enabling the buyer to create orders in minutes and send detailed instructions and product information to their rep with a few click
The startup has already raised $8.5M in funding to power the wholesale alcohol supply chain.Today over 700 distributors across 30 states are present on the SevenFifty platform, representing roughly $20B in combined annual sales. Additionally, over 30,000 buyers are sourcing wines and spirits through SevenFifty, ranging from small and local bars and retail locations to fine dining restaurants, restaurant chains, and large retailers.
“SevenFifty’s vision is to revolutionize and modernize the way the wholesale alcohol industry operates, and we couldn’t be more excited to debut our ordering platform to help streamline the workflow between buyer and distributor,” said SevenFifty CEO Aaron Sherman.
“The process of wholesale buying and selling alcohol in the U.S. is one of the last frontiers of commerce that has yet to be modernized by technology. Online Ordering is another major step forward in empowering the trade to focus more on relationships, and less on the busy work and analog processes that bog down the industry.”
I invited SevenFifty CEO Aaron Sherman onto the show to learn how tech is improving this age old industry.