Restaurant-Distributor Platform Provider BlueCart Buys Binwise

By Micah Maidenberg

BlueCart Inc., which operates a platform linking restaurants and distributors, has acquired Binwise Inc., a company that helps restaurants manage alcoholic-beverage offerings.

Terms of the deal weren't disclosed. BlueCart Chief Executive Konstantin Zvereff said the closely held, combined company now has a valuation of $60 million.

A range of companies are pitching restaurants, suppliers and others involved in the sector new technology-enabled tools that focus on reservations, ordering, delivery, and other parts of the business.

Founded in 2014, BlueCart runs a marketplace that allows restaurateurs and foodservice operators to order supplies from a range of distributors. It now has about 73,500 restaurants and 8,400 suppliers on its platform.

The Washington, D.C.-based company sells subscriptions to wholesalers, who can use BlueCart as their customer-relationship management program, according to Mr. Zvereff. It also sells advertising on its platform as well as information about purchases on the marketplace.

BinWise helps operators with purchasing, inventory and other issues related to alcohol. BlueCart wanted to buy BinWise, in part, to increase its presence in the beverage industry, Mr. Zvereff said.

Some tech-centric companies focused on restaurants are finding a home with bigger companies or merging.

In March, McDonald's Corp. (MCD) said it would buy Dynamic Yield Ltd., a company that helps retailers better target customers with personalized pitches.

Booking Holdings Inc. (BKNG) said earlier this month it would purchase Venga, which helps restaurants use guest data to create customer profiles and create more personalized dining experiences. American Express Co. (AXP) is buying restaurant-reservations company Resy Network Inc.

BlueCart has raised $22 million in funding from Greycroft, BlueRun Ventures and other investors.

"The BlueCart and BinWise merger will provide the currently-fragmented hospitality industry with a single platform for food and beverage management. We will continue to expand the platform to include other services through further acquisitions," said Dick Kramlich, chairman emeritus of venture-capital firm New Enterprise Associates, in prepared remarks.

Mr. Kramlich has invested in both companies and will join an advisory board for BlueCart.

(END) Dow Jones Newswires

May 28, 2019 11:00 ET (15:00 GMT)

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