Drizly receives US$15m investment push

On-demand alcohol delivery platform Drizly has secured US$15 million in Series B funding, bringing total investment in the company to US$32m.

Fast-growing alcohol delivery service Drizly has received a major investment boost

The latest round of investment in the app-controlled service, founded in 2012, was led by Polaris Partners with participation from Drizly’s existing investors and will be used to aid the firm’s rapid expansion expansion in both the US and international markets.

“Four years ago we set out to bring technology into one of the most regulated consumer industries in America,” said Nick Rellas, co-founder and CEO of Drizly.

“Today, Drizly stands as the technology company leading one of the biggest shifts from the physical to digital world and we could not be more proud and excited about the opportunity in front of us.”

Last year, the firm announced a partnership with trade body Wine & Spirits Wholesalers of America, showing that “technology can be an ally of mature, regulated industries like alcohol – not a disruptor”.

Speaking to The Spirits Business recently, Rellas said the advent of on-demand alcohol delivery services in the US will contribute to the creation of an e-commerce industry worth up to US$15 billion a year.

Just last week, Diageo CEO Ivan Menezes said the group had invested in Drizly through a third party in the US last year, however, Drizly said it had not received funds directly from Diageo and emphasised that it is “committed to building an independent business”.

“Drizly has proven itself to be the leader in the alcohol e-commerce space in terms of vision and market share,” said Pat Kinsel, venture partner with Polaris.

“By building the technology, infrastructure and consumer experience that previously never existed, Drizly is accelerating the creation of a $10bn+ per year industry, which is why we are so excited about our continued involvement.”