Full Glass Wine, a brand acquisition management startup specializing in wine market capture, raises $14 million in Series A round to continue capturing the direct-to-consumer (DTC) wine market and take the lead in the DTC wine market We are aiming for
DTC wine brands bypass traditional distribution channels and sell wine directly to wine lovers.
Full Glass Wine recently acquired Bright Cellars, a subscription-based wine service provider in Wisconsin, for an undisclosed price. The deal is the company's third acquisition in a year and will allow it to expand its subscription-based model. Previous acquisitions include Winc, a DTC wine platform offering personalized recommendations and subscription services, in June 2023; In October 2023, he will open Wine Insiders, a marketplace that offers a selection of high-quality wines from around the world at affordable prices.
“By combining Winc, Wine Insiders, and Bright Cellars, we offer a one-stop-shop for all things wine, offering a wider selection of wines than most traditional retailers, grocery stores, or single-brand DTC companies. We cater to enthusiasts,” said Neha Kumar. Full Glass Wine's co-founder and COO told TechCrunch. “This comprehensive portfolio will enable the company to optimize logistics for efficient delivery and leverage the power of established brands to build a strong marketing platform.”
The company also intends to increase investments in technology with the new capital. “Our recent acquisition, Bright Cellars, has developed a wine pairing algorithm that learns from user preferences and ratings. This approach is similar to how platforms like Spotify and Netflix personalize content recommendations for each user. It allows us to create a more customized experience for our customers,” Kumar said. “Our goal is to leverage data and AI to make personalized wine recommendations even more accurate and insightful, so every customer can find and enjoy the wines they truly love. .”
Kumar said the DTC wine industry is full of potential, but one hurdle is navigating the complex web of regulations across various states.
“Ensuring a seamless customer experience from discovery to delivery requires constant innovation and focus,” she continued. “However, there are also some misconceptions that consumers have about DTC wines. Quality concerns are addressed through partnerships with reputable vineyards and a rigorous selection process. Price is a consideration, but there are a number of We offer a variety of price points to accommodate any budget. Perhaps the biggest challenge is the initial discovery process. Finding the right wine can feel overwhelming. This is where personalization comes in. We use data and technology to help consumers find wines they really love.”
Full Glass Wine CEO Louis Amoroso and COO Neha Kumar.Image credit: Full Glass Wine
Co-founded in 2023 by Louis Amoroso (CEO), a serial entrepreneur in the wine industry and former partner at Goose Island Beer Company, and Kumar (COO), former managing director of New Money Ventures. The Octopus startup will work with companies willing to explore partnerships to expand the scope and offerings of its platform.
“We may work with wineries, food delivery services, or event planners to create unique experiences for their customers directly within the platform,” Kumar continued.
The company is working on an integration process following its recent acquisition to ensure a smooth transition for all involved.
“Full Glass Wine is currently looking at at least a few dozen employees in total,” Kumar said. “Our team will grow significantly. [will] Our combined and enhanced expertise will enable us to offer a wide range of services to our customers. ”
The company did not disclose subscriber numbers, but said the acquisition is expected to generate more than $100 million in revenue in 2024. The company plans to offer customers a diverse selection of over 400 SKUs and affordable price points. Most bottles range from $12 to $25.
Shea Ventures led the Series A funding.