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American wine app Drync lands $2.1M in funding

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(Credit: Drync) This image file contains the company logo of Boston, US-based wine app Drync.Drync
April 9
9:05 AM 2014

Wine discovery app Drync has secured $2.1 million in a new funding round for its wine shopping platform and online community. In addition, iPad users can now have access to the app, according to TechCrunch.

Chief executive officer (CEO) Brad Rosen said: "Our big 'aha' in Q4 was that people are very willing to click 'buy' on their phone. The combination of convenience, being able to find nearly any wine in the market, and great prices, seems to have hit a chord. We've got a fix on the unit economics and know we can scale this business."

Cross Link Ventures, Great Oaks Venture Capital, Foundry Group, and KEC Ventures were the investors in the said round. Angels such as Darmesh Shah of Hubspot and Wakit Lau of ScanSout also contributed to the financing. Drync will use the capital infusion to acquire more customers and beef up its workforce, the report detailed.

Established in August 2013, Drync became popular for its wine-scanning feature. This enables users to take a photo and have the app match the label to its database to find the brand. The company claims to have 150,000 monthly active users currently, TechCrunch reported.

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