Drizly Secures $15 Million Series B Investment Round
August 4, 2016 – Drizly, the technology company transforming
the way alcohol is shopped, sold and shared online, today announced $15 million
in Series B financing led by Polaris Partners with participation from existing
investors. The new funding brings total investment in Drizly to $32.8 million and
will be used to further drive the company's rapid expansion and brand
awareness, both in the U.S. and internationally.
In just four years, Drizly has become the e-commerce destination for beer, wine and liquor by building the most comprehensive product catalog available online. Drizly presents consumers with the widest selection and best prices in an unprecedented way that is compliant with the three-tier system made up of suppliers, wholesalers and retailers.
“Four years ago we set out to bring technology into one of the most regulated consumer industries in America," said Nick Rellas, co-founder and CEO of Drizly. “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."
Drizly is standardizing the alcohol shopping experience and empowering consumers with the information they need and want when making a purchase. Whether it's shopping for the best price, getting that hard-to-find item or enjoying the convenience of one-hour delivery, Drizly gives consumers a shopping experience they've never before had in alcohol.
“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, venture partner with Polaris. “By building the technology, infrastructure and consumer experience that previously never existed, Drizly is accelerating the creation of a $10bn+ per year industry, which is why we are so excited about our continued involvement."
Drizly is currently on track to see 4.8X year over year growth in users, orders and revenue.
ABOUT DRIZLY Drizly is the technology company transforming the way alcohol is shopped, sold and shared online. By combining competitive prices and widest selection online, Drizly delivers an unparalleled shopping experience to users of legal drinking age. Backed by world-class institutional investors, the company has raised $32.8 million to date and allows consumers to shop for beer, wine and liquor via Drizly in 23 markets across the U.S. and Canada.