SAN FRANCISCO, CA, Feb. 14, 2018 (GLOBE NEWSWIRE) — — Vivino, the world’s most downloaded mobile wine app and largest online wine marketplace has raised $20 million in Series C funding. Since its last round of funding in January 2016, Vivino has increased its user base from 13 million to 29 million, and has grown its commerce initiative, which leverages community data to suggest personalized wine recommendations to each individual user based on their unique ratings and purchases.
This round is led by SCP Neptune International, the investment arm of industry icon, Christophe Navarre and brings Vivino’s total funding to $57 million since it was founded in 2010. Navarre, previously CEO and Chairman of Möet Hennessy and Chairman of VinExpo, also sits on Vivino’s Board of Directors. Balderton Capital, Creandum, SEED Capital Denmark and Iconical, all existing major investors in Vivino, are contributing to the round as well. Vivino was advised in this transaction by London-based merchant bank Dial Partners LLP.
The growth of e-commerce and m-commerce combined with an increasing reliance on – and demand for – trusted, crowdsourced reviews, is feeding an upward spiral in the value Vivino is creating. Vivino’s founder and CEO Heini Zachariassen said, “Vivino’s 29 million users are exploring two million wines each day on the platform – creating the world’s largest and most engaged wine community. In the United States alone, more than 130,000 wines are now available for purchase through Vivino from merchant partners. We are on a mission to enable all of our users to discover and easily purchase any wine available on the market.”
Vivino’s marketplace sales in December 2017 were four times that of the previous December, fueled by growth in existing markets as well as the addition of six new markets. This latest round of investment will enable Vivino to continue to develop technology that delivers a seamless multi-channel commerce experience and to further invest in its team. Vivino will also extend commerce initiatives to new markets like Hong Kong, increasing revenues and enabling Vivino to meet its target of selling $1 billion of wine by 2020.
“Since 2010,” Zachariassen says, “Vivino has spearheaded a technology revolution in the business of wine, allowing millions of wine drinkers worldwide to learn about and purchase wine through Vivino. As we continue to expand our e-commerce offering, we will maintain our leadership position by advancing technology that meets the needs of both consumers and the trade.”
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Vivino is the world’s largest online wine marketplace and most downloaded wine app, powered by a community of 29 million wine drinkers who use Vivino to engage with more than two million wines every single day. Vivino’s unique wine shopping experience leverages community data to suggest personalized wine recommendations for each individual user based on their ratings and purchases. With Vivino, users can take a photo of any wine label on their mobile device and Vivino’s proprietary image recognition technology delivers ratings, pricing and a simple purchase option instantly. In addition to making wine discovery fun and easy, Vivino is the best place for users to buy wine for all their needs. Founded by Heini Zachariassen and Theis Søndergaard in 2010, Vivino is available for download on Android and Apple devices. For more information, visit www.vivino.com.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/34f3221b-2fc0-4bcf-b81a-48794ba7379e
CONTACT: David Watsky Manifest NYC 401-952-3782 email@example.com Courtney Quattrini Global Communications, Vivino 415-710-7527 Courtney@vivino.com