Full glass of winea brand acquisition management startup specializing in acquiring wine markets, raised $14 million in a Series A round to continue acquiring DTC (direct-to-consumer) wine markets, with the aim of dominating the DTC wine market.
The company recently acquired Bright Cellars, a subscription wine service provider in Wisconsin, for an undisclosed price. The deal is Full Glass Wine’s third acquisition in a year and will allow the startup to expand its subscription model.
Full Glass Wine previously acquired Winc, a DTC wine platform that offers personalized recommendations and a subscription service, in June 2023, and Wine Insiders, a marketplace that offers a selection of high-quality wines from around the world to affordable prices, in October 2023. DTC wine brands sell wine directly to wine lovers, bypassing traditional distribution channels
“By bringing together Winc, Wine Insiders and Bright Cellars, we offer a one-stop shop for all things wine, catering to a wider range of wine drinkers than most traditional retailers, grocers or DTC companies to unique brand,” Neha Kumar, co-founder and COO of Full Glass Wine, told TechCrunch. “This comprehensive portfolio allows the company to optimize logistics for efficient delivery and leverage the power of established brands to create a powerful marketing platform. »
Additionally, with the new capital, the company intends to invest more in technology. “Bright Cellars, our most recent acquisition, has developed a wine pairing algorithm that learns from user preferences and ratings. This approach, similar to how platforms like Spotify and Netflix personalize content recommendations, allows us to create a more personalized experience for each customer,” said Kumar. “Our goal is to leverage data and AI to make personalized wine recommendations even more accurate and insightful, ensuring that every customer discovers and enjoys the wines they truly love.
The DTC wine industry is full of potential, but one of the hurdles is navigating the complex web of regulations in different states, according to Kumar.
“Ensuring a seamless customer experience, from discovery to delivery, requires constant innovation and focus,” Kumar continued. “However, consumers may also have some misconceptions about DTC wine. Concerns about quality are addressed through partnerships with reputable wineries and rigorous selection processes. Value is a consideration, but we offer a range of prices to meet various budgets. Perhaps the biggest challenge is the initial discovery process: finding the right wines can seem overwhelming. That’s where personalization comes in: we leverage data and technology to help consumers discover wines they’ll truly love.
Full Glass Wine CEO Louis Amoroso and COO Neha Kumar. Image credits: Full glass of wine
Co-founded in 2023 by Louis Amoroso (CEO), a serial entrepreneur in the wine industry and former partner of Goose Island Beer Company, and Kumar (COO), former managing director of New Money Ventures, the startup is open to exploring partnerships. with businesses to expand the reach and offerings of its platform.
“This could involve collaborations with wineries, food delivery services or event organizers to create unique experiences for its customers directly within the platform,” the company’s COO continued.
The company is still working on the integration process to ensure a smooth transition for everyone involved after the recent acquisition.
“We’re currently looking at a total of at least a few dozen employees at Full Glass Wine,” Kumar said. “Our team will experience significant growth, strengthening our combined expertise and allowing us to offer a broader range of services to our clients.”
The startup did not provide how many subscribers it has, but said the acquisitions will help it generate more than $100 million in revenue in 2024. It plans to offer a diverse selection of more than 400 SKU and price range accessible to customers; most bottles range from $12 to $25. Shea Ventures led the Series A funding.
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