Cleveland Whiskey Re-Taps Wefunder for $1M Crowdfunding Goal: Best in Glass

Two years ago Cleveland Whiskey set itself apart as one of the first Reg CF investment crowdfunding offers to list following the launch date on 16 May. The spirits company  swiftly tapped over $295K in 2016 from more than 500 Wefunder investors.

The Whiskey Distillery has partnered again with Wefunder for its new Reg C $1Mcrowdfunding round.  In the early stages of its new campaign, Cleveland Whiskey has secured $65K from more than 78 investors. The company has been pre-evaluated at $14.8M. Total revenues in 2017 were reportedly $1,528,903.

The company avers that what the products it makes now are better than when it made even last year.

“With proprietary technology and protected intellectual property, our research and development processes are measurably faster, giving us a sustainable competitive edge,” indicated Cleveland Distillery. “Big companies have already started kicking our tires but in the meantime, we continue to grow, improve our technologies and expand into high margin categories where we can leverage existing processes.”

[clickToTweet tweet=”[email protected] returns @wefunder for second round #bourbon #whiskey ” quote=”@clevewhiskey returns @wefunder for second round #bourbon #whiskey “]

Highlights from the campaign and past years include:

  • 61% revenue growth from 2016 to 2017
  • “Bourbon Distillery of the Year 2017” AlSC  “Whiskey Distillery Innovator of the Year 2016” BISC
  • Funding-to-date, $3.6 million with our $700,000 in Regulation D, online equity
  • 24 gold, double gold, and best in class awards
  • Creatively re-purposed whiskey production by-product, the wood we use to make our whiskey, into a high margin new product launch

The pour? With traditional processes, whiskey is continually absorbed into and subsequently released from the pores of an oak barrel. Cleveland Whiskey believes that this process subtracts undesirable flavors and adds more of the desirable ones. And It’s a passive process that can take years. Cleveland Whiskey accelerates the cycles of temperature and pressure change associated with the aging of whiskey by increasing surface area as well as the frequency and range of pressure differentials. The distillery has reaped the results of its innovation, winning fans globally, shipping more than 275,450 bottles around the world.

“Twenty-two (22) Gold and Double Gold medals from competitions around the world. Our technology reduces maturation time which is a huge competitive advantage that cuts years off traditional barrel aging and allows flavor profiles that can’t be produced in a traditional way,” added CEO Tom Lix. “We do it without sugar, syrup, or anything artificial. All the flavor comes from transformative woods like black cherry, apple, hickory and sugar maple. Traditionalists are not happy.”

Investor perks are included in this campaign, ranging from Cleveland Whiskey Limited Edition Investor Decals at $100 to a Pre-Release Barrel Strength Cleveland Rye at $10,000+.

 “To celebrate the fifth year since we shipped our first bottles in 2013, we’re releasing a new rye whiskey finished with charred black cherry wood.  For investors only, we’re planning a high proof pre-release version,” shared the campaign. “Only 100 numbered bottles, barrel strength at 116 proof, wax dipped and hand-signed by company founder, Tom Lix.”

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