Full Glass Wine Raises $14M to Continue DTC Marketplace Spree, Acquires Bright Cellars | Tech Crunch

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A full glass of wineA brand acquisition management startup specializing in buying wine marketplaces, has raised a $14 million Series A round to continue buying DTC (direct-to-consumer) wine marketplaces with the aim of leading the DTC wine market.

DTC wine brands sell wine directly to wine lovers, bypassing traditional distribution channels

Full Glass Wine recently acquired Bright Cellars, a subscription-based wine service provider in Wisconsin, for an undisclosed price. The deal is its third acquisition in a year and will allow the startup to expand its subscription-based model. Previous acquisitions include Winc, a DTC wine platform that offers personalized recommendations and subscription service in June 2023; and Wine Insiders, a marketplace that curates a selection of high-quality wines from around the world at prices available in October 2023.

“By uniting Wink, Wine Insiders and Bright Cellars, we offer a one-stop shop for all types of wine, serving a wider range of wine drinkers than most traditional retailers, grocers or single-brand DTC companies,” Neha Kumar, Co-Founder, Full Glass Wine and COO, told TechCrunch. “This comprehensive portfolio enables the company to optimize logistics for efficient delivery and leverage the power of established brands to create a powerful marketing platform.”

The company hopes to invest more in technology with the new capital. “Bright Cellars, our recent acquisition, developed a wine-pairing algorithm that learns from consumer preferences and ratings. This approach, similar to how platforms like Spotify and Netflix personalize content recommendations, allows us to create a more tailored experience for each customer,” Kumar said. “Our goal is to leverage data and AI to make personalized wine recommendations more accurate and intelligent, ensuring that every customer finds and enjoys the wines they truly love.”

The DTC wine industry is full of potential, but according to Kumar, one of the hurdles is navigating the complex web of regulations in different states.

“To ensure a seamless customer experience from discovery to delivery, constant innovation and focus is essential,” she continued. “However, consumers also have some misconceptions about DTC wine. Concerns about quality are addressed by partnering with renowned vineyards and rigorous selection processes. Value is a consideration, but we offer a range of prices to suit different budgets. Perhaps the biggest challenge is the initial discovery process – finding the right wines.” That's where personalization comes in — we leverage data and technology to help consumers find wines they really like.

Full Glass Wine CEO Luis Amoroso and COO Neha Kumar. Image Credits: A full glass of wine

Co-founded in 2023 by Luis Amoroso (CEO), a serial entrepreneur in the wine industry and former partner at Goose Island Beer Company, and Kumar (COO), former Managing Director at New Money Ventures, the startup is poised to explore partnerships. with businesses to expand its platform's reach and offerings.

“This includes collaborations with wineries, food delivery services or event planners to create unique experiences for its customers directly on the platform,” continued Kumar.

After the recent acquisition the company is still working through the integration process to ensure a smooth transition for everyone involved.

“We're now looking at a few dozen total employees at Full Glass of Wine,” Kumar said. “There will be significant growth in our team, which will strengthen our combined expertise and allow us to offer a broader range of services to our customers.”

The startup did not provide the number of subscribers it has but said the acquisitions will help it generate more than $100 million in revenue by 2024. It plans to offer a diverse selection of more than 400 SKUs and an accessible price range to consumers; Most bottles range from $12 to $25.

Shea Ventures led the Series A funding.

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