Improvonia, a downtown D.C.-based platform that connects restaurants, hoteliers and other hospitality industry retailers with suppliers, has raised $4 million, the Washington Business Journal reported Friday.
Founded just last year, the startup now has more than 2,000 users on both ends, founders Konstantin Zvereff and Jag Bansal told the Journal.
Over the past year, the user base has grown to more than 2,000 buyers and sellers, largely because of the network effect employed by the company in bringing aboard new customers. Whenever a new restaurant opts to use the platform, its entire network of sellers is loaded onto the network, each of whom are then pinged by the company to join as a new user.
The raise was led by return investor Blue Run Ventures, which is based on the West Coast.
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