Funding

Popular Wine App Vivino Raises $25M to fuel growth

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January 17
9:44 PM 2016

Wine community mobile app Vivino raised $25 million in Series B round to further bolster its unprecedented growth.

The PE Hub Network reported that Vivino, which was founded in 2010, has become the world's most downloaded mobile wine app. Its Series B round funding was led by SCP Neptune International. It has also received contributions from the existing investors such as Balderton Capital, Seed Capital, Iconical, and Creandum. The additional round, the Seed, and the Series A round brings the total funding to $37 million.

Vivino specializes on turning its users into wine connoisseurs by helping them pair their wine with their present needs. Venture Beat wrote that this niche has turned the wine app maker into a great success, attracting big investors. The additional fund that Vivino raised will be used to expand its market in major wine consuming regions in the world, such as Germany, Belgium, Spain, France, Italy, and the US.

It has garnered 13 million users from 228 various countries. The company plans to gain up to 25 million before the end of 2016 and reach 50 million more per annually after this year.

"Our mission to help people all around the world find great wine requires significant resources across the wine and technology industries," said Heini Zachariassen, Vivino's CEO. "Thanks to the incredible investment and insights of Christophe Navarre, we're incredibly well-suited to continue to attack our mission in unprecedented fashion."

Meanwhile, according to Essential Ecommerce, Vivino has recently partnered with Abbyy to include the optical character recognition (OCR) technology on its app. It allows the wine app to let the user take photos of wine lists, and use character recognition to provide more information.

Vivino has also partnered up with influential author Karen MacNeil, who will be the editorial advisor of the wine app company. MacNeil authored the bestselling book, The Wine Bible. She will be giving insights, advice, and intel through the app.

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