As The Drinks Industry Goes Digital, SevenFifty Announces $23 Million In New Funding

As The Drinks Industry Goes Digital, SevenFifty Announces $23 Million In New Funding

The funding will help the beverage alcohol technology provider continue to expand its presence ... [+] across North America With in-person drinking and dining in flux, many consumers are redirecting their dollars toward takeout and delivery. As a result, venture capitalists are circling beverage alcohol tech brands as the digital booze field continues to expand. Case in point: SevenFifty has announced $23 million in new funding. The company attracted this round of investment following a period of nearly 100% year-over-year growth. SevenFifty reached just under $1 million in sales volume over 2020. SevenFifty provides mobile and web-based technology solutions across three tiers of the beverage alcohol industry, connecting buyers, distributors and retailers via a suite of integrated data management tools. Launched in 2011 by founders Aaron Sherman and Gianfranco Verga, the company's aim is to bring the largely fragmented North American spirits supply chain onto a centralized platform“”an online wholesale marketplace for all things alcohol. Over 90, 000 restaurant and retail buyers“”including Skurnik, Momofuku, Kermit Lynch and Winebow“”currently use SevenFifty's marketplace, making it the largest B2B wholesale alcohol marketplace in the alcohol space. As drinkers shifted online, the pandemic heated up the digital drinks space. Uber UBER acquired Drizly, the