Winc, a modern winery platform, has successfully secured more than $2.2 million through its Tier II Regulation A funding round, which took place on equity crowdfunding platform SeedInvest. Founded in 2011, Winc describes itself as a modern winery with a direct connection to the consumer, building a portfolio of brands for the next generation of wine drinkers
“We believe the traditional wine industry hasn’t properly explored how wine fits into the lives of today’s evolving consumer, but Winc is democratizing the category and breaking down barriers to what is often a very complex world. As a digital-first, vertically integrated wine company, Winc’s unique model enables real time product testing, validation, and brand building. Real time customer feedback is rare in the wine industry, but Winc owns and leverages its first-party data from over 13M bottles sold directly to more than 500K customers to inform its decisions in the vineyards and create wines that resonate with today’s consumer.”
Winc also reported that it has produced 664 wines from 78 grape varieties, and 97 regions across 12 different countries. Wine successes include:
- Summer Water Rosé: Since its launch in 2015, Summer Water has grown at over 1200% CAGR with a combined $10 million in sales.
- Folly of the Beast: Folly’s mission is to consistently deliver great, 100% Pinot Noir at an unrivaled price. Since 2015, the brand has grown at a 186% CAGR with a combined $5 million in sales.
Following the SeedInvest round, Winc is planning to do the following:
- Brand launches: Winc will continue to launch new brands.
- Partnerships: Winc is exploring various large influencer/brand partnerships that allow us to create not just innovative brands, but also an opportunity to reach different audiences and acquire new DtC customers.
- Customer Acquisition: Winc will continue to scale our DtC customer acquisition efforts and continue to grow our membership through a high performing and scalable marketing mix.
- Expand National Wholesale: Winc will heavily invest in a team to grow national wholesale.
- Strategic Acquisitions: Winc plan to continue to grow and foster great wine brands through strategic acquisitions. The goal is to acquire one brand per year.
- Category Expansion: In 2020, Winc will launch Saké and the company believes its platform can expand into other categories like beer and spirits.
All Investors will receive the below five perks plus their investment tier perks.
- Complimentary 6-bottle pack of our flagship brands ($116 retail value)
- Year-round 10% back in credit on gift cards
- Friends and Family discount: $20 additional Winc referral credits
- “Pick Winc’s next product”: The ability to help us name our next flagship product
- Early access to wine tasting and events
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