Drizly Raises $15 Million in Series B Round


On-demand alcohol delivery service Drizly today announced it has completed a $15 million Series B funding round led by venture capital firm Polaris Partners, which previously financed a majority of the company’s $13 million Series A round last May.

Founded in 2012, Drizly has raised $32.8 million to date from a group of investors including First Beverage, Continental Investors, Suffolk Equity, Gary Vaynerchuk (via the Vayner RSE fund) and the Wine & Spirits Wholesalers of America have all invested in the startup company.

The latest round of funding will be used “to further drive the company’s rapid expansion and brand awareness, both in the U.S. and internationally,” according to a press release.

“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,” Nick Rellas, co-founder and CEO of Drizly said via a press release.

Similar to ridesharing mobile applications like Uber and Lyft, Drizly serves as a technology layer and e-commerce platform connecting traditional off-premise retailers to thirsty consumers.

Drizly COO Cory Rellas presented at the 2015 Brewbound Session in Chicago, at the time explaining how his company hopes to change traditional consumer purchasing behavior. 

“We’re bringing incremental profit, incremental consumers of a kind they wouldn’t get in the store,” he said at the time. “The mix of product selection due to who we’re attracting, the average order size is three to four times higher – these are profitable consumers that any store would want to have.”

Drizly, which currently operates in 23 markets across the U.S. and Canada, is on pace to grow its user base, revenue and orders “4.8X year over year,” the company via the release.