Total amount raised
$24 Millions
Latest funding date
03/01/2021
Location
Bev has successfully raised funds through multiple rounds, with its last Series A round closing on March 17, 2021. The company has attracted a diverse group of investors, including Pareto Holdings and Brian McNamara.
Bev is a mission-driven brand that aims to transform drinking culture with its premium wines made from California grapes. Keep reading to explore the intricacies of Bev's fundraising journey and the investors backing this innovative platform.
What Is Bev?
Bev, founded in 2017 by Alix Peabody, is a lifestyle beverage company headquartered in Los Angeles, California. The company specializes in producing premium wines made from California grapes, with a focus on dry, rosé wine.
With an employee count ranging from 11 to 50, Bev aims to transform drinking culture and promote female empowerment. The company was acquired by E & J Gallo Winery in 2023 and continues to be recognized for its mission-driven approach and women-led leadership.
How Much Funding Has Bev Raised?
- Series A
- Amount Raised: $16M
- Date: March 17, 2021
- Lead Investors: Nia Batts
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's operations, product offerings, and market reach.
- Series A
- Amount Raised: Not disclosed
- Date: November 16, 2020
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing business operations and growth.
- Seed Round
- Amount Raised: $7M
- Date: April 16, 2019
- Lead Investors: Founders Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Building out their brand platform, investing in new product development, and supporting the growth of their first product, a canned rosé, across the U.S.
- Pre-Seed Round
- Amount Raised: Not disclosed
- Date: February 1, 2019
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's initial operations and product development.
- Seed Round
- Amount Raised: $958K
- Date: March 1, 2018
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch their first product, a dry rosé wine.
- Debt Financing
- Amount Raised: Not disclosed
- Date: January 9, 2018
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure initial capital for business operations.
- Seed Round
- Amount Raised: Not disclosed
- Date: November 22, 2017
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund early-stage development and market entry.
Bev has raised a total of $23.958M in funding. The current valuation is Not publicly disclosed.
Key Investors
- Pareto Holdings
- Details: Pareto Holdings is a venture capital firm known for its strategic investments in early-stage companies. The firm is recognized for its focus on high-growth potential startups.
- Investment Focus Areas: Technology, consumer goods, healthcare.
- Notable Investments: Not publicly disclosed.
- Brian McNamara
- Details: Brian McNamara is an individual investor with a background in finance and entrepreneurship. He has been involved in various startups and investment ventures.
- Investment Focus Areas: Technology, finance, consumer products.
- Notable Investments: Not publicly disclosed.
- Founders Fund
- Details: Founders Fund is a leading venture capital firm based in San Francisco, known for investing in early-stage companies. The firm has a reputation for backing innovative and disruptive startups.
- Investment Focus Areas: Aerospace, artificial intelligence, advanced computing, energy, health, consumer internet.
- Notable Investments: SpaceX, Facebook, Palantir Technologies.
What's Next for Bev?
Bev is poised to capitalize on several growth opportunities, including expanding its brand platform and developing new products. The company’s partnership with Reyes Distribution will enhance its distribution capabilities, allowing it to reach a broader audience across the U.S. Additionally, the increasing popularity of canned beverages and direct-to-consumer sales models presents a significant market opportunity.
Future fundraising efforts are likely as Bev continues to grow. The successful seed round indicates strong investor confidence, which could pave the way for additional funding to support expansion and new product lines. However, Bev will need to navigate challenges such as competition in the beverage industry and scaling production to meet demand.
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