Thirstie partners with AB InBev-backed DrinkworksBy Nicola Carruthers
Alcohol e-commerce start-up Thirstie has partnered with beverage innovation company Drinkworks to provide a streamlined purchasing system for its products.
The collaboration will see Thirstie deliver a “seamless e-commerce experience” across Drinkworks’ portfolio, which includes an in-home alcohol dispenser.
Drinkworks is a joint venture between beer giant Anheuser-Busch and American beverage producer Keurig Dr Pepper, created with the aim of inventing a dispensing system that could work with beer, wines, spirits, cocktails and mixers.
Visitors to Drinkworks.com will now be able to purchase alcohol directly from the website without being redirected to a third-party website. This efficient capability is “critical” for the firm, as it sells both hardware and alcohol products.
“Drinkworks understands that the current dynamic of alcohol e-commerce limits them in providing the smoothest possible point of sale,” said Devaraj Southworth, CEO and co-founder of Thirstie.
“The most important component of our platform is the behavioural and transactional data we are able provide to liquor brands, which have historically been lost through selling on third-party sites.
“With these additional funds, we’ll be able to make significant new strides to help companies like Drinkworks connect the dots behind these data points to drive smarter business decisions.”
Over the next three years, Thirstie will provide Drinkworks with access to data so that it can understand consumer shopping behaviour.
“The Drinkworks Home Bar is uniquely suited for e-commerce when compared to traditional alcohol offerings. We knew a unique partner would be required to create the experience we envisioned,” said Nathaniel Davis, president and CEO of Drinkworks.
“With Thirstie’s solution, a customer can explore, select and purchase our full home bar offering on Drinkworks.com, creating a truly remarkable customer experience.”
In addition to the partnership, Thirstie has also secured US$7 million in an “oversubscribed” series A financing round.
The funding is from investment firm Queens Court Capital, including Coach’s former CEO, Lewis Frankfort; former CEO of Citibank Joseph J Plumeri; former Credit Suisse CEO USA, Brian Finn; and SWAT Equity Partners founder Richard Kirshenbaum.
The funds will allow Thirstie to roll out a new data sharing platform, and enhancements that will enable alcohol brands to offer advanced payment methods, personalised products and customisable subscription plans.