PLUM
Category
Fund 1, Vertical ApplicationsAbout This Project
Our Portfolio Companies
David Koretz
CEO & Founder
Highlights
- Date of First Investment:
June 2017 - Series A
- Portfolio: Fund 1
- Theme: Vertical Applications
Background
Plum is the first smart by-the-glass wine dispenser for in-home and luxury hotels. Plum automatically identifies, chills, preserves, and serves any two bottles of wine – one glass at a time.
LOVC was introduced to Plum founder and CEO David Koretz through a local event in 2017. David had moved to FL from Silicon Valley after selling his previous company to Juniper Networks for $90M. While Plum was backed by Khosla Ventures and other Silicon Valley investors, David saw the value in having a local partner with deep operating experience and asked LOVC to participate in his Series A round, and in 2018 we had the opportunity to lead their Series B as well.
Why we love Plum
The Plum machine completely revitalizes the in-room wine experience for its hotel customers. Not only is the guest experience vastly superior to any other offering, the hotels are able to recognize huge gains in in-room alcohol sales compared to traditional mini-bar and room service. Plus the product is great for any wine connoisseur looking to enjoy their collection one glass at a time!
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