Total amount raised
$221.8 Millions
Latest funding date
2/1/2021
Location
Vivino has successfully raised significant funding across multiple rounds, attracting a diverse group of investors including Kinnevik and Sprints Capital. The platform is renowned for its comprehensive wine marketplace, offering users the ability to discover and purchase wines with confidence.
Keep reading to delve into the details of Vivino's funding journey and the strategic investors who are backing this innovative platform.
What Is Vivino?
Vivino, founded in 2010 by Heini Zachariassen and Theis Sondergaard, is headquartered in San Francisco, California. The company operates the largest online wine marketplace and community, offering tools to help people buy the right wine.
Vivino's platform empowers users to enjoy wine to the fullest by providing personalized wine recommendations based on community data. The mobile app allows users to scan wine labels, access ratings, reviews, and track their wine preferences.
With a team of 251-500 employees, Vivino continues to innovate in the wine industry, ensuring users have a unique and informed wine shopping experience.
How Much Funding Has Vivino Raised?
- Series A
- Amount Raised: $4M
- Date: Dec 2012
- Lead Investors: Creandum
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial platform and expand the user base.
- Series A
- Amount Raised: $10.3M
- Date: Jul 2013
- Lead Investors: Balderton Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and enhance app features.
- Series B
- Amount Raised: $25M
- Date: Jan 2016
- Lead Investors: SCP Neptune International
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into new markets and improve technology.
- Series C
- Amount Raised: $20M
- Date: Feb 2018
- Lead Investors: SCP Neptune International
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop technology, invest in the team, and expand commerce initiatives to new markets.
- Series C
- Amount Raised: $7.5M
- Date: Dec 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue growth and market expansion.
- Series D
- Amount Raised: $155M
- Date: Feb 2021
- Lead Investors: Kinnevik
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale the business and enhance user experience.
Total Amount Raised: $221.8M. Current Valuation: Not publicly disclosed.
Key Investors
- Kinnevik
- Details: Kinnevik is a Swedish investment company founded in 1936. It focuses on building digital consumer businesses.
- Investment Focus Areas: E-commerce, financial services, healthcare, telecommunications.
- Notable Investments: Zalando, Tele2, Betterment.
- SCP Neptune International
- Details: SCP Neptune International is the investment arm of Christophe Navarre, former CEO of Moet Hennessy. Navarre is also a member of Vivino’s Board of Directors.
- Investment Focus Areas: Wine and spirits, luxury goods.
- Notable Investments: Not publicly disclosed.
- Balderton Capital
- Details: Balderton Capital is a London-based venture capital firm that invests in early-stage technology companies. It was founded in 2000.
- Investment Focus Areas: Technology, e-commerce, fintech.
- Notable Investments: Revolut, The Hut Group, Citymapper.
- Creandum
- Details: Creandum is a European venture capital firm that invests in innovative and fast-growing technology companies. It was founded in 2003.
- Investment Focus Areas: Technology, consumer internet, software.
- Notable Investments: Spotify, Klarna, iZettle.
- PSV
- Details: PSV is a venture capital firm that invests in early-stage companies. It has a strong focus on supporting innovative startups.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Not publicly disclosed.
What's Next for Vivino?
Vivino's future looks promising with significant opportunities on the horizon. The company plans to expand its wine marketplace and enter new markets like Hong Kong, leveraging its robust community data for personalized wine recommendations. This expansion could potentially drive substantial growth, aiming for $1 billion in wine sales by 2020.
Given the successful Series C funding, Vivino is well-positioned for future fundraising rounds to support its ambitious goals. However, challenges such as navigating regulatory landscapes in new markets and maintaining technological innovation will be critical. As the company scales, ensuring a high-quality user experience will be paramount.
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