Bevi, a leading designer of smart water coolers for commercial spaces, announced that the company has exceeded 50% growth in recurring revenue. During this time, Bevi also achieved a new sustainability milestone, with its smart water coolers saving over 350 million single-use water bottles from entering the environment since the company was founded nearly 10 years ago.
“We are thrilled with the recent progress that we’ve made, which reflects our commitment to innovation, customer satisfaction, and sustainability,” Sean Grundy, CEO and co-founder of Bevi, said in the announcement. “Our continued growth is evidence that the return-to-office trend is real, with thousands of companies in the past year investing in workplace amenities to support hybrid workers.”
Business growth: Bevi now has more than 5,000 customers across North America, including new partnerships with leading brands and establishments such as EZ Cater, Magic Spoon, and Stanford University. Bevi’s internet-connected smart water coolers are able to monitor return-to-office trends based on actual levels of customer water consumption. In the first half of 2023, data from machines across the country revealed that in-office attendance increased to 50% of pre-pandemic levels for the first time since the pandemic, contributing to the company’s recent surge in growth. In addition to commercial office spaces, Bevi also recently branched out into new verticals, including hospitality and multi-family real estate. Bevi machines are now located throughout hotels such as the Hyatt Regency, as well as the amenity areas of residential apartment buildings run by leading property management firms like Lincoln Property Company.
New enhancements: Bevi also announced new and improved enhancements that users can mix into their beverages, including electrolytes and vitamin boost. Bevi’s electrolytes enhancement provides vitamins B3, B5, and B6 to help refuel the mind and body. The Vitamin Boost enhancement includes a proprietary blend of vitamin C, B vitamins and zinc, which has anti-viral properties. All Bevi flavors and enhancements are vegan, gluten-free, low and zero-calorie, and low and zero-sugar, with no added coloring.
Sustainability milestone: On average, each Bevi machine can save over 50,000 bottles or cans from entering the waste stream per year, and Bevi just crossed a milestone: Its customers have saved 350 million plastic bottles, the equivalent of 21.7 billion grams of CO2, 1.4 trillion ounces of oil, and 105 million ounces of plastic.
As a sophisticated point-of-use water dispenser with a wide variety of features, flavors and enhancements, Bevi plans to continue making product innovations to offer a more sustainable, cost-effective solution to bottled beverages. Bevi’s technology enables customers to reduce their costs and carbon footprint while also offering users high-quality, healthy beverage options and a user-friendly experience.