Alcohol e-commerce sales worldwide have grown immensely, and it is estimated that by 2024, they will exceed $40 billion. Vivino currently boasts a community of 50 million wine enthusiasts, who turn to the platform for its personalised recommendations, unbiased rating system, and expansive selection of wines from more than 700 marketplace partners worldwide.
The new capital will enable Vivino to improve its core technology and artificial intelligence platform to create better and more personalised recommendations for Vivino users. The company will also deepen its focus on select markets with the greatest potential for growth, including the US, Germany, the UK, Italy, and Portugal.
Heini Zachariassen, Vivino’s Founder and Chief Executive Officer, said: “This round has raised some important capital for our rapidly growing company and drawn some exceptional new leaders to our board. The funding will enable us to continue to build on our core strengths, expand industry partnerships drawing more merchants and wineries to our marketplace, and support our continued global growth.”
Joakim Dal, Partner at GP Bullhound, added: “GP Bullhound is proud to support Vivino in its next stage of growth. Heini and his team have created an extraordinary business and we believe that there are strong prospects for its continued global expansion.”
GP Bullhound invested through Fund V, following other recent investments including Elias, DuckDuckGo and MariaDB.
For enquiries, please contact:
Joakim Dal, Partner, at email@example.com
About GP Bullhound
GP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the world’s best entrepreneurs and founders. Founded in 1999, the firm today has offices in London, San Francisco, Stockholm, Berlin, Manchester, Paris, Hong Kong, Madrid and New York. For more information, please visit www.gpbullhound.com.