LOS ANGELES, May 4, 2016 /PRNewswire/ -- Club W, the company seeking to upend the $39B U.S. wine market, announces today its rebranding as Winc and the raising of $17.5M in Series B funding.
Launched in 2012 as Club W, the world's first personalized wine club, the company has maintained a focus on making great wines accessible to a new generation of wine drinkers. In 2014, it transitioned from a third-party marketplace to a full-stack wine company, directly managing the sourcing and production of all the wines it sells. The company has since expanded to direct retail and offline distribution channels, and the formation of Winc provides greater avenues and structure for growth. Winc recently opened its second distribution facility, extending its two-day shipping footprint to the entire Eastern Seaboard.
"The scope of what we're doing today necessitates a bigger umbrella than what the Club W brand afforded us," says CEO Xander Oxman. "We're deeply committed to the continued development of the member experience. The Club W service is simply becoming a part of Winc, which has an expanded focus."
"We have a broad and compelling array of wines," notes Chief Wine Officer Brian Smith, a veteran restaurant and retail buyer as well as an acclaimed winemaker. "Having a direct connection with consumers as the foundation of our multi-channel model allows us to source nimbly across an incredible range of regions, varietals, and styles while always delivering great value — so it's not surprising that our wines are resonating with top restaurants and retailers alike."
Winc's multi-channel strategy also benefits from the logistics groundwork created through the growth of Club W. "We built a really efficient supply chain, winemaking practice, and distribution network with our direct-to-consumer business," says COO Geoff McFarlane. "Our expansion really leverages these competencies."
The overall expanded strategy received endorsement in the form of a $17.5M funding round, bringing the total raised by the company to over $30M. The round was co-led by the Beijing-based Shining Capital and existing investor Bessemer Venture Partners.
About Winc Winc (formerly Club W) is a direct-distribution wine company. The company sources and makes exceptional, accessibly priced wines from around the world and sells them directly to consumers and to select restaurants and retailers. Learn more at www.winc.com or visit www.clubw.com to shop our wine selection and become a member.