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Online wine marketplace and app Vivino has raised $155 million in funding its Series D round to support its expansion and ventures into artificial intelligence.
Vivino is aiming to improve its core technology and AI platform and strengthen its presence in markets that offer potential growth such as the US, Japan, Germany, the UK, Italy, Portugal.
The funding round was led by Swedish investment firm Kinnevik with Sprints Capital, GP Bullhound, and Creandum.
According to Vivino’s founder and CEO, Heini Zachariassen, the funding round raised important capital for the company and drawn exceptional new leaders to our board.
He added that it would enable them to continue building their core strengths, expand industry partnerships, draw more merchants and wineries to their marketplace, and support global growth.
Vivino has now raised $221 million at a time when alcohol e-commerce sales are rising amid a shift in consumer behavior.
Vivino, provides personalized recommendations, an unbiased rating system, and a selection of wine from more than 700 marketplace partners worldwide.
It claims to be the world’s largest online wine marketplace and most downloaded wine app.
Since its Series C raise in February 2018, Vivino has boosted its user base from 29 million to 50 million.
