August 4, 2016
Today, Boston-based Drizly is announcing the successful close of a $15 million Series B round. The round is led by Polaris Partners with support from existing investors. Since launch, the company has raised $32.8 million across six rounds and 27 investors. The latest capital injection will be used to expand both nationally and internationally, and on marketing focused brand awareness.
In the age of instant gratification, Drizly has found their niche by delivering beer, wine, and other spirits directly to the front door of consumers and businesses alike. Their approach works similar to the build-your-own six pack at grocery stores, but they also bring the store to you. By the end of 2016, the company plans to have expanded their reach to 30 different markets, with at least one being international.
“Four years ago we set out to bring technology into one of the most regulated consumer industries in America,” said Nick Rellas, Drizly cofounder and CEO. “Today, Drizly stands as the technology company leading one of the biggest shifts from the physical to digital world and we could not be more proud and excited about the opportunity in front of us.”
Beyond deliveries, Drizly sets their service apart by also helping beer connoisseurs get the best price and find the hard to obtain brews within each local market.
“Drizly has proven itself to be the leader in the alcohol e-commerce space in terms of vision and market share. Not only are they the technology leader for consumers purchasing alcohol, but for the entire industry,” said Pat Kinsel, Polaris venture partner. “By building the technology, infrastructure and consumer experience that previously never existed, Drizly is accelerating the creation of a $10 billion + per year industry, which is why we are so excited about our continued involvement.”
According to a statement by the company, Drizly is on track to achieve nearly five times year-over-year growth for users, orders, and revenue.
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