Wine.com raises $15m to accelerate growth
Online wine retailer Wine.com has raised $15m from existing investors to accelerate its growth.
The retailer has an annual revenue of more than $100m and it saw growth of 25% in the quarter ending 30 June, which is twice its five-year average annual growth rate.
Meanwhile, the company has also revamped its website to offer a modern, streamlined design with easier filtering capabilities, more granular geographic regions and varietals, enhanced wine and winery content, to provide a consistent user experience across all device types.
Wine.com also recently released a new mobile app in the Apple Store. This app includes a new label scanner, an improved wine database, live chat, as well as all the purchasing capability of Wine.com's full website.
Based in San Francisco and New York, the Live Chat Service features a number of wine experts who are available every weekday to help customers discover new wines.
Besides offering convenient delivery, the website and app offer wines at competitive prices, with unlimited shipping for an annual $49 membership fee.
Wine.com CEO Rich Bergsund said: "It's still very early in the game. With this capital, we can expand our efforts to innovate and leverage technology to help consumers discover and buy great wine.
"We've sold and shipped nearly a billion dollar's worth of wine to date, but we feel like a startup, hungry to earn the trust of customers of all ages and levels of wine knowledge."