- Online alcohol delivery company Drizly has announced $13 million in Series A funding, led by Polaris Partners with participation from First Beverage Group and other venture and strategic investors.
- With the funding, Drizly, which currently operates in 15 markets, plans to expand its operations to 30 markets and bring its number of employees to 80, doubling the company's current staff.
- Drizly works with more than 150 alcohol retailers and suppliers to provide customers the beer, wine, and spirits they order from Drizly's app or website, which is then delivered within 20 to 40 minutes.
The delivery phenomenon is taking off in the U.S. as more consumers expect on-demand ordering via online and mobile app retailers. Alcohol is one segment trying to break into this market, with Drizly as just one of several alcohol delivery services in the country.
"We’re in an industry that hasn’t moved in 80 years–since the end of Prohibition. It’s a $100 billion market and less than 1% is online so that’s a compelling opportunity," Drizly cofounder and CEO Nick Rellas told The Wall Street Journal reported.
This funding comes not long after Drizly formed a strategic alliance with the Wine and Spirits Wholesalers of America, which enables the company to "serve more consumers and to provide those consumers with unparalleled choice and convenience," according to a news release. Per the agreement, the WSWA assumed a small, non-controlling interest in Drizly and a seat on Drizly's board.