Full Glass Wine Co., a leader in direct-to-consumer wine sales, has announced the closure of a $14 million Series A funding round led by Shea Ventures. Alongside this, the company has strategically acquired Bright Cellars, a subscription-based wine service, marking a significant expansion in the DTC wine market.
Louis Amoroso, Full Glass Wine Co-Founder and CEO, brings over three decades of experience to the company’s ambitious growth strategy. The new capital will enhance Full Glass Wine Co.’s multi-brand platform, which includes Winc and Wine Insiders, known for personalized wine recommendations and curated global selections, respectively.
The acquisition of Bright Cellars allows Full Glass Wine Co. to diversify its subscription offerings and cater to a wider range of consumer preferences. This move not only broadens the company’s market presence but also enriches customer experiences with a more extensive selection of quality wines.
The investment will be channeled into acquiring other DTC wine market players, developing innovative marketing strategies, and investing in technology for a personalized user experience. Full Glass Wine Co. aims to revolutionize wine discovery by leveraging data and technology for personalized recommendations, convenience, and flexible subscription models.
Silverwood Partners acted as the financial advisor for the transactions, positioning Full Glass Wine Co. as a dominant force in the evolving DTC wine landscape.
“This Series A funding and the acquisition of Bright Cellars are significant milestones for our growth, putting us on track for a projected $100 million+ revenue run rate in 2024,” said Neha Kumar, Co-Founder and COO of Full Glass Wine Co. “We are thrilled to welcome Bright Cellars to the Full Glass Wine Co. family and are excited about the opportunities this addition presents to enhance the customer experience and strengthen our market presence. We believe that everyone deserves to discover and enjoy wines they truly love.”
“Shea Ventures is delighted to support Full Glass Wine Co. and the expansion of its wine portfolio,” said Peter Callaghan, Managing Director at Shea Ventures. “Full Glass Wine Co. has the right team with the right vision to capitalize on the growing opportunity to sell wine directly to consumers and to rapidly increase its market share.”
“Bright Cellars’ strong reputation and loyal customer base are a perfect fit for Full Glass Wine Co.,” said Louis Amoroso, Co-Founder and CEO of Full Glass Wine Co. “Their innovative approach to personalization aligns tightly with our vision, and we are confident that together, we can create an even more engaging and rewarding experience for wine lovers everywhere.
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