Pivot, a Miami-Based Startup, Raises Pre-Seed Round Jointly Led by Silicon Road Ventures and Overline
Pivot, a Miami-based tech marketplace aiming to redefine how brands and retailers connect, has raised a pre-seed venture capital round led jointly by two Atlanta-based venture funds: Silicon Road Ventures and Overline.
Pivot eliminates traditional wholesale by allowing brands to pick the ideal location and space in store to showcase their merchandise. In turn, boutiques and independent stores are able to eliminate costs associated with engaging wholesalers and increase revenue from their brick and mortar assets by renting out their shelf space to prospective brands. Together, brands and retailers share data and create an integrated experience that is adapted to changing consumer behavior. Since launch in January 2021, Pivot has already attracted over 4,000 brands and more than 1,200 retailers to their platform.
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“At Pivot, we are designing a future where brands can pick the right stores, at the right location, at the right time,” said Alvaro De Jesus, Co-Founder of Pivot. “We are creating a network of independent brands and stores collaborating to bring efficiency, convenience, transparency and sustainability to an industry that continues to evolve, while delighting the customers with unique experiences.”
“The ongoing disruption in commerce is requiring retailers to improve sales production per square foot as well as the ability to showcase local merchandise to attract a new generation of shoppers. Pivot provides an innovative approach to solving great challenges and has been a great addition to the Silicon Road portfolio” said Sid Mookerji, Managing Partner of Silicon Road Ventures.
Pivot’s Launch
Prior to launching Pivot, Alvaro De Jesus and Valeria Savino ran Nomad Tribe, a small chain of boutiques in Wynwood and Miami Beach focused on sustainable and socially conscious brands. Very quickly Alvaro and his co-founder, Valeria Savino, started noticing changes in how customers wanted to build a relationship with a brand. As the owner of the inventory, this put Nomad Tribe in the position of being the middleman between the brand and consumers. Quickly, they started to recognize that the traditional retail business model of managing and paying for inventory upfront, was ripe for disruption and sparked the team’s interest in building a new way for brands and independent boutiques to connect. This experience led Alvaro, Valeria, and their new co-founder Juan Montes de Oca to launch Pivot, an innovative software platform that connects brands with a large pool of savvy retailers and identifies the best partner based on location, aesthetic, style, seasonality, and much more.
Pivot is backed by two institutional VCs, Silicon Road Ventures and Overline. Silicon Road Ventures, an Atlanta-based firm exclusively focused on commerce tech and Overline, a venture capital firm focused on investing in seed-stage businesses in the Southeast. Pivot’s $1M of venture capital funding will be used to accelerate product development.
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