Vivino raises $20 million in Series C funding
Vivino was founded back in 2010 and is the world’s most downloaded mobile wine app with more than 29 million users. SEED Capital joined the Vivino adventure with an investment in 2011 and we’re happy to announce that Vivino has raised an additional 20$ million in Series C funding bringing Vivino’s total funding to $57 million since it was founded in 2010.
It has been quite a ride for Vivino. The founders, Heini and Theis, have managed to create the world’s largest wine community and have now attracted more than $57 million in total funding including the latest round.
When we first met the team behind Vivino, the product wasn’t that impressive, to be honest. But their user base was. And we liked Heini and Theis. They had found a niche where the customers desperately wanted a product like theirs. Vivino tapped straight into the trend of crowdsourced content with great success. They had 12.000 users back then — now they have 29 million spread out across the globe.
Today, 538 million wine labels have been scanned. The immense traction Vivino had from a very early point led to a Series A funding in 2013, a Series B funding in 2016 and now a Series C funding.
The Series C funding round was led by SCP Neptune Capital, the investment fund created by wine mogul and connoisseur, Christophe Navarre. SEED Capital contributed to the round along with Balderton Capital, Creandum and Iconical, who all are existing investors in Vivino.
Heini and Theis have managed to take over the world of wine. Not only do they have a very active user base that explores more than two million wines a day, they also sell wine now. In the US alone, you can buy more than 130.000 different kinds of wine.
The new investment round allows Vivino to penetrate new markets. They are now looking to extend their commerce initiative to the Asian market, starting off with Hong Kong.
By 2020, Vivino aims to sell more than $1 billion bottles of wine, and as things are now, they look likely to succeed.
Huge congratulations from everyone here at SEED Capital to Heini, Theis and the rest of the Vivino Team!
