BROOKLYN, N.Y. — TapRm, a platform which cracked the hurdles hindering the sale and distribution of beer both traditionally and online, has raised $1.5 million to expand its business, the company announced today. The Broe Group, a privately owned, multibillion-dollar value investment group with diversified holdings in 37 North American states and provinces, led the round, and VU Venture Partners, Branded Strategic Hospitality and others joined.
According to Kantar, while up to 25% of consumer packaged goods are sold online, only 0.2% of beer is — thanks to heavy federal and state regulations. Harvard-trained lawyer and TapRm CEO, Jason Sherman, discovered a way forward. The company represents brands in New York City, distributing to more than 600 bars, restaurants and supermarkets. TapRm also sells those brands directly to consumers through its online marketplace, a first for a beer distributor in the United States.
“Regulations have restricted consumer choice for decades, but TapRm provides the platform to disrupt an enormous industry that will benefit from the power of free choice,” said Greg Gallagher, Chief Investment Officer at The Broe Group. “This investment will accelerate TapRm’s continued adoption among breweries, retailers and consumers.”
TapRm has exclusive arrangements with most of their brand partners; 97% of the brands sold on TapRm are unavailable online anywhere else. And the company shares customer and trend data with its brand and retail partners, so they can learn what’s working immediately.
“By going direct to consumer, we give smaller brands big reach,” said TapRm CEO Jason Sherman. “And because we’re a full-stack distributor unlike other alcohol delivery startups, we’re able to capture more margin, and pass the savings back to our brands and their consumers. We’re pleased that The Broe Group and others see the value we’ve been able to create, and we look forward to working with them to expand.”
This story first appeared in TechCrunch.
TapRm is a full-stack beer distribution platform designed specifically to solve the unmet needs of breweries, retailers and consumers. We combine licensed verticals to launch e-commerce-focused brands in new markets as distributor, retailer, e-commerce store and delivery courier. And we share customer data back to our brands to enable them to make better decisions. Visit us at TapRm.com.
About The Broe Group
The Broe Group, with headquarters in Denver, Colorado, is a private investment firm that owns a diversified multi-billion dollar asset base across real estate rail, oil & gas, infrastructure, and public equities. The organization owns and/or manages commercial real estate and other businesses across North America. Its transportation affiliate, OmniTRAX, Inc., is the fastest growing railroad in North America with railroad, port and terminal operations. OmniTRAX and Broe manage industrial hubs adjacent to affiliate rail operations including the Great Western Industrial Park in Northern Colorado and sites in Brownsville, Texas; Sand Springs, Oklahoma; Decatur, Illinois and Savannah, Georgia. Its energy affiliate, Great Western Petroleum, LLC, is a top 10 driller in Colorado and among the top 100 drillers in the U.S. The Broe Group has several investment affiliates in private equity and venture capital, including Three Leaf Ventures, which is focused on innovative healthcare technology start-ups. For more information, see www.broe.com.
For More Information: https://taprm.com/