Lunden Taylor, writing for TechCrunch, reported on the atozmp3 recent Series C funding round for U.S.-based company, 750-ml. The company, which was founded in 2019, is a provider of an online marketplace for premium wines and spirits, and the latest funding round raised $70 million.
According to Taylor’s article, the funding round was led by Tiger Global Management, with participation from new investors such as Radicle Growth, Avenir Growth Capital, and Lion Capital, as well as existing investors including Harlan Capital, Scrum Ventures, and Rucker Park Capital. The funds will be used to support 750-ml’s expansion into new markets and categories, as well as to enhance its technology platform and hire new staff.
750-ml is taking on the highly toonily competitive wine and spirits industry with its platform, which offers a curated selection of premium products from around the world. The company prides itself on its innovative approach, using data and analytics to identify trends and make informed purchasing decisions, while also providing a personalized experience for each customer.
In a statement to TechCrunch, 750-ml co-founder and CEO, Philip James, said that the company is focused on becoming the go-to destination for wine and spirits lovers. “With this new capital, we’re accelerating our mission to build the most trusted and innovative marketplace for wine and spirits, connecting consumers with the world’s best producers,” he said.
James, who was previously the co-founder of wine masstamilanfree delivery service, Lot18, and the online wine education platform, Snooth, founded 750-ml with former Lot18 colleague, Lindsay Hoopes. Since its launch, the company has experienced significant growth, with a reported 400% increase in sales in 2020 alone.
The latest funding round is a testament to the success of 750-ml’s business model and its potential for further growth. According to Taylor, the company plans to use the funds to expand into new markets and categories, such as premium spirits and non-alcoholic beverages. It also plans to further develop its technology platform, which uses machine learning algorithms to analyze consumer behavior and provide personalized recommendations.
750-ml’s success can be masstamilan attributed to its unique approach to the wine and spirits industry, which has traditionally been dominated by brick-and-mortar stores and established brands. By offering a curated selection of premium products and a personalized experience, the company has tapped into a growing market of consumers who are looking for a more convenient and sophisticated way to purchase wine and spirits.
The company’s success also highlights the potential of e-commerce in the justprintcard wine and spirits industry. According to a report by Statista, online sales of wine and spirits in the U.S. are projected to reach $23.2 billion by 2025, up from $14.5 billion in 2020. As more consumers turn to online shopping for their alcoholic beverage needs, 750-ml is well-positioned to capitalize on this trend.
