US-based alcoholic beverage retailer Drinks has received $15m in series B funding from investors including Shea Ventures, the corporate venturing arm of property developer JF Shea.
Investment holding company Beverly Pacific led the round, which included Stable Road Capital, Kayne NewRoad Ventures, Drinks chief executive Zac Brandenberg and angel investors Guillaume Cuvelier and Yehuda Shmidman.
Founded in 2013, Drinks owns wine retail brands Martha Stewart Wine and Wine Insiders. It offers wine directly to consumers through its website but also provides a wine sourcing, curation and fulfilment tool for e-commerce platforms.
John Morrissey, managing director of Shea Ventures, said: “Drinks’ mission of ‘changing the way wine is sold’ immediately drew us to their digital platform. In so many categories, we have seen consumers demand an effortless shopping experience with convenient delivery – and we believe wine should be no different.
“With its innovative personalisation technology and direct access to prestigious wineries that enable consumers to easily and affordably purchase premium wine, Drinks is uniquely poised to set the stage for the future of wine sales in the United States.”
The round increased the total raised by Drinks to $25m, the company said, identifying Kayne NewRoad Ventures and Zac Brandenberg as existing backers.