E-commerce site Speakeasy gains $6.8m funding

Alcohol e-commerce platform Speakeasy has raised US$6.8 million worth of investment to pursue its next phase of growth.

The funds were raised during the company’s third seed round. Following two funding rounds in 2020 and 2021, the platform has raised a total of US$9.8m to date.

Since its most recent investment, Speakeasy has welcomed almost 300 partners to the platform, including spirits brands such as Whistlepig, Tesla Tequila, Stoli Group and Jägermeister.

Josh Jacobs, co-founder and CEO of Speakeasy, said: “We’ve been on a mission to revolutionise the industry with a first-of-its-kind centralised fulfilment model, and this investment is a testament to what we have accomplished.

“Our capital partners wholeheartedly believe in the vision and will be instrumental in the next chapter as we continue driving the industry forwards.”

The US$6.8m will help Speakeasy grow its team and invest further in its fulfilment model.

Speakeasy aims to produce premium, ‘hard to find’, and craft alcoholic beverages for direct-to-consumer shipping. It also works to deliver merchandise, custom packaging, personalised labels, cocktail kits, and more.

Firms that have invested in Speakeasy include: Paul Hletko, founder of Few Spirits; Wilco Faessen, co-founder and chairman of Whistlepig; Guillaume Cuvelier, founder of Svedka Vodka; and Marc Bushala, CEO of Spirits Investment Partners, which makes Heaven’s Door, Stolen Spirits, and Playboy Spirits.

Carlton Fowler, Speakeasy board member and managing partner of Goat Rodeo Capital, said: “It has been impressive to watch the Speakeasy team grow. E-commerce may be an inevitability in beverage alcohol, but the strategy and tactics to unlock this massive market takes a nuanced understanding of the customer and consumer needs, which is exactly what Speakeasy has displayed.”