Los Angeles Technology Startup DRINKS Raises $15 M in Series B to Develop & Scale Wine Ship-to-Home Platform
Sep. 07, 2018
LOS ANGELES--(BUSINESS WIRE)--Sep 7, 2018--, owner and operator of popular direct-to-consumer properties Martha Stewart Wine Co. and Wine Insiders, today announced it had raised $15 million in a Series B capital round, bringing its total funding to approximately $25 million. Led by Beverly Pacific, with participation from Shea Ventures, DRINKS will use these new funds to scale its unique ship-to-home platform that enables online and brick-and-mortar retailers to market wine directly to consumers in up to 41 states.
“We are excited to announce this additional financing and welcome these strategic investors to our team,” says Zac Brandenberg, Co-founder and CEO of DRINKS. “This round of financing is a validation of DRINKS’ leading marketplaces, best-in-class technology and data science, and groundbreaking ship-to-home platform. As the technology leader in the wine industry, we will continue to disrupt the way wine is sold by leveraging our digital reach and marketplace efficiencies to bring consumers the highest quality wine at the lowest prices, direct to their door.”
DRINKS offers the nation’s only plug-and-play platform for digital merchants and brick-and-mortar retailers alike to rapidly start marketing award-winning wine portfolios to their customers across the USA. DRINKS provides an end-to-end solution, from curating a customized selection of wines specific to each customer, to state-level compliance, to delivery to a home, office, or one of 10,000 convenient local pickup locations.
“DRINKS’ mission of ‘changing the way wine is sold’ immediately drew us to their digital platform. In so many categories, we have seen consumers demand an effortless shopping experience with convenient delivery—and we believe wine should be no different,” says John Morrissey, managing director of Shea Ventures. “With its innovative personalization technology and direct access to prestigious wineries that enable consumers to easily and affordably purchase premium wine, DRINKS is uniquely poised to set the stage for the future of wine sales in the United States.”
Other participating investors included founder of Svedka Vodka Guillaume Cuvelier, former Sequential Brands Group CEO Yehuda Shmidman, Stable Road Capital and existing investors Kayne NewRoad Ventures and DRINKS CEO Zac Brandenberg.
Additional company highlights include:400% annual growth of ship-to-home platform through mid-2018 Over 10 million bottles of wine delivered in 2017 Delivery to 1 million households since inception; 500,000 active households
For more information, please visit www.drinks.com.
Drinks Holdings, Inc. ( www.drinks.com ) operates the leading digital wine platform and the nation’s only Ship-To-Home solution that allows both digital and brick-and-mortar retailers to market high quality and affordable premium wine for delivery around the United States. Leveraging big data and patented technology, DRINKS maximizes consumer demand by generating customized store shelves and wine packs to match prospective customers with the right wines. Direct to consumer properties include Wine Insiders and Martha Stewart Wine Co. DRINKS was founded in 2013 in Los Angeles, CA by a seasoned team of digital marketing, technology, and alcohol beverage industry experts.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180907005357/en/
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: TECHNOLOGY ONLINE RETAIL VENTURE CAPITAL INTERNET PROFESSIONAL SERVICES RETAIL FOOD/BEVERAGE WINE & SPIRITS
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PUB: 09/07/2018 12:01 PM/DISC: 09/07/2018 12:01 PM