Vivino raises $155M in Series D funding to support expansion and investment into smarter, more personalised AI

FEB 03, 2021

BY BALDERTON

The round was led by Swedish based investment firm Kinnevik, with Sprints Capital and participation from GP BullHound and Creandum.

Vivino is the world’s most downloaded mobile wine app and the largest online wine marketplace. It currently boasts a community of 50 million wine enthusiasts, who turn to the platform for its personalised recommendations, unbiased rating system and expansive selection of wines from more than 700 marketplace partners worldwide.

Balderton first invested in Vivino in 2013, leading the firm's Series A. 

You can watch Balderton's Suranga Chandratillake in conversation with Heini Zachariassen, founder and CEO of Vivino at the May 2018 Balderton Collective CEO Retreat below.

Suranga Chandratillake sat down with Heini Zachariassen of Vivino at the May 2018 Balderton Collective CEO Retreat in the Luberon in France.

The new capital, which brings Vivino’s total funds raised to date to $221M, will enable the company to improve its core technology and artificial intelligence platform to create better and more personalised recommendations for users.

The company will also deepen its focus on select markets with the greatest potential for growth, including the US, Germany, the UK, Italy, Japan, and Portugal.

This round has raised important capital for our rapidly growing company and drawn some exceptional new leaders to our board. The funding will enable us to continue to build on our core strengths, expand industry partnerships drawing more merchants and wineries to our marketplace, and support our continued global growth

Heini Zachariassen, Vivino’s Founder and Chief Executive Officer

Alcohol e-commerce sales worldwide have grown immensely, and it is estimated that by 2024, they will exceed $40 billion. Zachariassen credits the company’s growth to this continued shift in consumer behavior.

Our user retention rates are high, and we’re seeing a steady conversion of app users to wine buyers. That’s a good move in the right direction. By creating more value for our users, we also create more value for the company and industry at large.

Heini Zachariassen, Vivino’s Founder and Chief Executive Officer

Heini Zachariassen, Vivino’s Founder and Chief Executive Officer

Since its Series C raise in February 2018, Vivino has increased its user base from 29 million to 50 million and has significantly grown its marketplace business, which connects wineries and wine merchants to its community. The company has posted a 100% annual growth rate for the last seven years and a 103% increase in year-over-year sales in 2020.

We're super-excited for Heini, Theis and the rest of the Vivino on this significant new milestone on their journey to democratize the amazing but opaque world of wine. Skål to the next billion bottle scans!

Suranga Chandratillake, General Partner, Balderton

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