BARTRENDr Raises $1M To Give Beverage Brands An Inside Look At Consumer Behavior
Social Drinking App's Seed Round is Led by Members of Esteemed Investor Network, New York Angels
May 27, 2015, 11:18 ET
OAKLAND, Calif., May 27, 2015 /PRNewswire/ -- BARTRENDr, the social drinking app providing the beverage industry with a first-hand look at consumer behavior data for millennials, announced today that the company has raised an additional $1 million Seed round, led by members of the renowned investor network, New York Angels. This round also includes a contribution from the Menlo Park-based Band of Angels, which led BARTRENDr's $1.3M initial seed round earlier this year.
Gaining over 600,000 users over the last five months, this new round of funding will help BARTRENDr continue to build its data platform, which is shared with leading beverage brands. Through strategic photo-tagging on the backend, BARTRENDr is analyzing user generated information and images to compile a massive catalog showing which brands people are drinking, their lifestyle, who they're with, their age group, whether they drink at home or on premise, and more to provide beverage brands with real-time, exclusive consumer data. The data also shows correlations between products – for example, what shots are most often paired with certain brands of beer.
With the app quickly becoming the consumers' choice for sharing their night out online, BARTRENDr is not only a valuable tool for beverage brands, but a platform where users share pictures and statuses away from the judging eyes of parents or employers on Facebook or Instagram. BARTRENDr helps users stay connected throughout the night by uploading photos, checking into bars or at home, and improves the social evening experience so they'll never have a bad night in or out again.
"BARTRENDr is capturing information from users that are consuming products in real-time," said Devon Bergman, CEO of BARTRENDr. "We have the capabilities to tell brands specifically that a certain group of 26-year-olds with certain fashion preferences, or friendship inclination favor certain drinks when in company of friends and what factors such as weather or ambiance are inductive to consumption. This funding will help us to continue to grow at the impressive rate we showed in Q1 and secure partnerships with brands that need this data to better understand and reach their target audiences."
Behavioral data captured through the platform will include locations, population segments, beverages, age and gender of users, behavioral factors, as well as correlation between lifestyle, events and consumption patterns. All of this unbiased, unaided content provides real-time, in-depth insights for beer, wine, and liquor brands.
"BARTRENDr is pioneering a new age of market research," said Liam Lynch, the round's lead investor from the New York Angels. "Brands no longer need to ask consumers about their consumption habits because they are willingly giving up that information over social media – brands just need to know where to look."
For more info, visit www.bartrendr.com and download the app for iOS and Android.
BARTRENDr is the private social network for people that go out, connecting you to the people and the atmosphere you want tonight. Easily find and connect with your friends, share what you're drinking and tell everyone how awesome your night is. Even see what's happening in the bars around you before stepping inside! Save your mouth for drinking and use your thumbs to talk about your night out on BARTRENDr.
About New York Angels
The New York Angels is a member led organization committed to finding, funding and mentoring great young companies from pitch through a successful exit. Comprised of over 100 active members, the company consists of entrepreneurs, CEO's, venture capitalists and business leaders who have founded, funded and built world-class companies. With its mission being to foster an engaged and smart New York City angel investment environment in an effort to enhance the opportunities for entrepreneurs to be smartly financed and succeed through exit, The New York Angels has been the leading seed investment organization in NYC for almost a decade, having invested over $100 million in more than 100 venture companies.
Share this article