MILWAUKEE, Sept. 1, 2021 /PRNewswire/ — Bright Cellars, a data-driven wine company with a personalized wine subscription driven by member feedback, has closed $11.2M in Series B funding, led by Cleveland Avenue with participation from existing investors Revolution Ventures and Northwestern Mutual.
Bright Cellars offers its members a personalized selection of wines based on an introductory quiz. Members receive these wines as part of their monthly experience, along with information on each match and a serialized introductory-to-expert level wine education, then rate their selections to power an algorithm that improves their future matches.
Bright Cellars’ model of rapid wine testing has generated insights across hundreds of variables at scale. The resulting platform, with close to a decade of data, has enabled Bright Cellars to develop its own portfolio of wines.
To date, Bright Cellars has launched more than 600 wines, including new formats like sparkling, premium, and sustainable. With a rapid, data-driven research and development cycle, Bright Cellars is proving out new successful wines in an industry that has struggled to attract a modern consumer. Top rated wines for different segments of Bright Cellars members are frequently unique in the market and highlight how the wine industry has failed to understand it’s consumer.
«In a market where legacy players have struggled to attract the next generation of wine drinkers, Bright Cellars’ approach to customer education, personalization and data has well-positioned the Company as the conduit to a new and modern customer. Cleveland Avenue is proud to support Bright Cellars’ work to transform the wine industry.» said Jacob Shapiro, Principal at Cleveland Avenue.
«I’m excited to partner with one of the best food and beverage investors in Cleveland Avenue for the next stage of our business. The top rated wine on our platform tastes and looks unique–it has no equivalent in the market. Every year since we’ve launched Bright Cellars, ratings on the platform have increased – leveraging the data we get from direct feedback is fueling a better wine experience for our members.» states Bright Cellars CEO and Co-founder, Richard Yau.
This round of funding will allow the company to advance their data platform, further personalized education, expand their portfolio of winning wines, and scale operations.
About Cleveland Avenue
Founded by Don and Liz Thompson, Cleveland Avenue is a venture capital firm that invests in food and beverage brands, and technologies that positively disrupt large and growing markets. Learn more at clevelandavenue.com and follow them on Twitter, LinkedIn, and Instagram.
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SOURCE Bright Cellars Inc.