David Koretz introduced the first appliance that preserves, chills and serves wine by the glass. A $9 million round of funding will help the South Florida entrepreneur further expand into the luxury hotel center.
His startup, Plum, announced Thursday that its Series A round was led by Khosla Ventures, locally based Las Olas Venture Capital and several angel investors. Wine and hospitality industry veterans also participated in the funding round.
“The support from investors of this caliber is a welcome validation of our core mission to let people enjoy a single perfect glass of wine on demand in their homes and hotel guest rooms,” said Koretz, Plum’s founder and CEO, in a press release.
Plum appointed Joe Berger, executive vice president and president of the Americas for Hilton Hotels & Resorts, to its board. “There is an incredible need for innovation inside the hotel room to surprise and delight guests and elevate their experience with each stay,” said Berger, who oversees operations of more than 350 corporately managed Hilton hotels and Hilton Grand Vacation resorts.
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The company’s Plum for Hotels program brings on-demand, in-room wine by the glass to guests. Plum has already signed deals with Four Seasons, Marriott, SBE Group, Langham, Hyatt, Hilton, and Rosewood flags.
“Hoteliers will be able to unlock new incremental revenue streams,” said Mark Volchek, founding partner at Las Olas Venture Capital that has funded several South Florida companies in the past year. “David is an experienced entrepreneur who has a strong track record of success, and we are excited to be backing him on his latest venture.”
Plum’s appliance, which is in production, holds and preserves two bottles and serves each wine at the idea temperature for that varietal. Plum is headquartered in Dania Beach and has offices in Silicon Valley. Koretz moved to South Florida in early 2015 from the valley to start Plum, even though VCs at the time told him he was crazy.