Cooley advised Vivino on the deal
Vivino has raised $20 million in Series C funding. Since its last round of funding in January 2016, Vivino has increased its user base from 13 million to 29 million, and has grown its commerce initiative, which leverages community data to suggest personalized wine recommendations to each individual user based on their unique ratings and purchases.
This round is led by SCP Neptune International, the investment arm of industry icon, Christophe Navarre and brings Vivino’s total funding to $57 million since it was founded in 2010. Navarre, previously CEO and Chairman of Möet Hennessy and Chairman of VinExpo, also sits on Vivino’s Board of Directors. Balderton Capital, Creandum, SEED Capital Denmark and Iconical, all existing major investors in Vivino, are contributing to the round as well. Vivino was advised in this transaction by London-based merchant bank Dial Partners LLP.
Vivino’s marketplace sales in December 2017 were four times that of the previous December, fueled by growth in existing markets as well as the addition of six new markets. This latest round of investment will enable Vivino to continue to develop technology that delivers a seamless multi-channel commerce experience and to further invest in its team. Vivino will also extend commerce initiatives to new markets like Hong Kong, increasing revenues and enabling Vivino to meet its target of selling $1 billion of wine by 2020.
Vivino is the world’s largest online wine marketplace and most downloaded wine app, powered by a community of 29 million wine drinkers who use Vivino to engage with more than two million wines every single day. Vivino’s unique wine shopping experience leverages community data to suggest personalized wine recommendations for each individual user based on their ratings and purchases. With Vivino, users can take a photo of any wine label on their mobile device and Vivino’s proprietary image recognition technology delivers ratings, pricing and a simple purchase option instantly.
Cooley advised Vivino with a team including Kevin Rooney (Picture),
Sale Kwon, Mei Li and Melanie Yuvienco.
Law Firms: Cooley LLP;
Clients: Vivino Inc.;