Mobile wine app and online marketplace, Vivino announced today that it has raised a $155 million Series D round of funding. This round was led by investment firm Kinnevik and Sprints Capital, with participation from GP BullHound and Creandum. This brings the company’s total funding to $221 million USD.
This most recent round of funding will be used for Vivino’s continued geographical expansion and to incorporate more personalized AI (artificial intelligence) into its platform. The company will focus its expansion efforts in markets in the US, UK, Germany, Portugal, and Japan. Its AI will be improved to create better wine recommendations for its customers.
Vivino’s community can use the mobile app or online marketplace to see reviews and ratings of different wines, and view personal recommendations based on their preferences. Customers shop for wine online through the website marketplace or app, and have wine shipped directly to their homes. Vivino allows the customer to shop for wine based on grape or region, and offers wine pairing recommendations for a variety of foods. Once the wine delivery arrives, customers can use the accompanying app to scan each bottle and receive additional information about the wine. For those unsure which bottle of wine to pick out, Vivino uses its AI-based recommendation platform to make suggestions.
E-commerce alcohol sales have significantly increased since the start of the pandemic, and this sector seems to be having its moment. Vivino’s fundraise comes just one day after alcohol delivery service and online marketplace Drizly was purchased by Uber for $1.1 billion.
Currently, 50 million people worldwide are part of the Vivino community of wine drinkers. The Vivino app is free, and available for both Apple and Android phones.
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