2.0 wine consumers: Vivino app raises $25 million

Thursday January 28 2016 by Vitisphere

In one of the most significant equity raising initiatives by the digital wine industry of the past few years, Vivino has announced that it has raised 25 million dollars via SCP Neptune International, Christophe Navarre’s family-run company; Navarre joins the board as administrator. The capital round also involves secondary investors Balderton Capital, Creandum, SEED Capital and Iconical. With 13 million users in 228 countries, the app recognises a wine from a photo of its label. The user then obtains information on the photographed wine, primarily its rating by the Vivino community, thus transforming it into a genuine social media application. The app can also recognise a wine list and provides the user with ratings from the network, hence facilitating the choice of wine in restaurants. It also offers a marketplace service featuring some 11,000 wine merchants.

The capital increase coincides with the start of a partnership with Karen MacNeil, author of the book ‘The Wine Bible’. She becomes editorial advisor for Vivino and will provide content for the app and the website.

The app lists 2 million different wines and 100,000 wine companies. According to the Venture Beat website, it is targeting 25 million users by the end of 2016. Located in San Francisco after originating in Scandinavia in 2010, Vivino has already raised 37 million dollars including a capital round in 2013 which raised 10.3 million dollars.

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