Drizly, an e-commerce alcohol marketplace, has closed a $50 million series C funding round, led by Avenir, a New York-based investment firm, with participation by Tiger Global and other existing investors. This investment comes as Drizly has grown over 350 percent compared to 2019 and the number of retail partners on its platform doubled since January 1.
As consumers shift to online shopping for alcohol, Drizly expects 20 percent of off-premise alcohol purchases to be transacted online within the next five years, as compared to less than two percent in early 2020.
"This investment enables us to further accelerate our product and customer growth,” said Cory Rellas, Drizly Group's CEO, in a statement. “We look forward to further building out our offering for retailers and brands while continuing to provide a consumer experience that comprises the best place to shop for your favorite beer, wine and spirits."
Related: Rip Van, Savencia Cheese Launch E-Commerce Sites; Brands Expand Direct-to-Consumer Efforts.
Image credit: Drizly
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