Drizly secures $13 million in Series A funding
Drizly, the Boston-based technology company which has developed an app and website for on-demand delivery of alcoholic drinks, has secured $13 million in Series A financing. The funding has come from Polaris Partners, with participation from First Beverage Group and existing investors.
Drizly currently operates in more than 15 American cities, with more than 150 retail and supplier partnerships.
The cities currently served by Drizly, through its “retail partner network”, are: Austin, Baltimore, Boston, Boulder, Chicago, Denver, Indianapolis, Los Angeles, Minneapolis, New York City (and the Hamptons), Providence, Seattle, St. Louis, Vail and Washington D.C.
“Off-premise alcohol sales is a $100 billion business that’s untouched by technology,” said Pat Kinsel, venture partner with Polaris Partners who will join the Drizly Board. “With Drizly, we are investing in a legal framework that connects alcohol supply and demand with full support of the industry players, who are all eager to see how innovation will transform their business.”
The funding announcement follows a Drizly strategic alliance with the Wine and Spirits Wholesalers of America (WSWA). As part of the alliance, the WSWA took a small non-controlling interest and a seat on the Drizly Board of Directors.
The Drizly system includes a propriety ID verification technology which retail partners can use at the point of delivery to ensure the purchaser is of legal drinking age.
