About a month ago, the founders of Winc joined Andy and me on Startup Insider (click here to watch). They wanted to update the First Stage Investor members that invested in them on their progress. And they wanted to let people know that they were raising again (click here to invest).Â
Winc has raised almost $4.5 million in this round. And Winc co-founders Geoff McFarlane and Brian Smith have decided to close the raise early (on January 5) because they want to put the money to good use.
Winc will use the money it’s raising right now to help close an acquisition. And this is likely the last time Winc will raise before going public.
As for the upcoming acquisition, it’s an exciting one! Here’s what we know about the company Winc is trying to acquire:
- It sells best-in-class natural and organic wines from around the world.
- It is a widely recognized market leader.
- The business has grown at more than a 30% compound annual growth rate since 2018.Â
- It holds decade-long relationships with top organic wine producers internationally.
- And it’s expected to have $10M in revenue for FY2021.Â
This acquisition sounds like a perfect pairing. And I’m excited to see what happens next for Winc. They were perfectly positioned to take advantage of the surge in online wine sales this year. They’re well positioned to capitalize on brick-and-mortar wine sales when things return to “normal” in 2021. And thanks to all of the data they collect from their members, Winc can stay ahead of the curve on the latest wine trends.  Â