Los Angeles based DRINKS which operates the leading digital wine platform and the nation’s only Ship-To-Home solution had raised $15 million in a Series B capital round, bringing its total funding to approximately $25 million.
The round was led by Beverly Pacific, with participation from Shea Ventures. Other participating investors included the 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.
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.
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.”
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