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Plum Secures $10 Million Series B Funding

Plum Secures $10 Million Series B Funding
Credit: plum.wine

Plum, the company that introduced the first appliance that automatically preserves, chills, and serves wine by the glass, closed $10 million in Series B financing led by Fort Lauderdale-based Las Olas Venture Capital. Las Olas invests in early-stage startups with a primary focus on B2B technology companies solving complex coordination business problems.

After its successful presale consumer launch, Plum rolled out its Plum for Hotels program in 2017 to provide an on-demand, in-room wine by the glass experience to luxury hotel room guests. In addition to a new profit center for hotels, the program strives to allow partners to bring personalization and ease to guests who want to enjoy a glass of wine at the end of a work day. The company counts Four Seasons Hotel Silicon Valley at East Palo Alto, The Confidante Miami Beach, and Waldorf Astoria Roosevelt New Orleans as current partners.  

Plum plans to use the funds to expand its Plum for Hotels program across more than 50 hotels throughout the U.S. through 2018.