Hospitality Industry Marketplace BlueCart Raises Additional $5M

BlueCart Inc., a hospitality industry marketplace and sales enablement platform, secured $5M in Series B-1 investment from Greycroft, bringing the total amount raised by the company to $22 million.

The funding comes as BlueCart is scaling in the hospitality sector, with 27,000 new buyer accounts and 3,100 additional wholesalers joining the platform in Q1 2018 alone.

To both meet the demands of this growth, and enable further scale, BlueCart is currently developing the BlueCart Procurement Assistant, a forecasting tool that combines machine learning with predictive technologies to simultaneously increase both seller revenue and buyer satisfaction on the platform.  

In related news, Greycroft venture partner and entrepreneur-in-rResidence Bo Peabody will join BlueCart’s board of directors, while Greycroft partner and co-founder Dana Settle will serve as a board observer.

Peabody has not only invested in successful startups that sold to Disney and Getty, but is also co-owner of Mezze Restaurant Group, and a board member of Boqueria Restaurant Group. He joins current board of director member David Barber, co-founder of New York’s renowned Blue Hill restaurant, in contributing hospitality-focused operational expertise to BlueCart’s leadership.