Lot18 launched as a members-only flash sales site to give consumers access to high-quality, curated wines in small quantities and limited runs. Since launch it has expanded its assortment to include wine and bar accessories, gourmet and artisanal foods, and travel excursions. Last month the company launched Lot18 Experiences, offering wine- and gourmet-themed travel excursions and local members-only events such as wine-pairing dinners at Michelin-starred restaurants. The site has grown from six to more than 80 employees and now has over 500,000 members, with high repeat-purchase rates. Lot18 reports 12 consecutive months of growth in gross merchandise volume and has facilitated sales of more than 500,000 bottles of wine. The company plans to use new funding to support continued growth and further technological and product development, particularly expanding Lot18 Gourmet and Experiences. Lot18 is a New York–based, invitation-only site that offers members access to rare wines hand-selected by its expert procurement team. In June the company expanded into artisanal food, adding products such as olive oil, chocolates, caviar and coffee. It plans to use the new funds to expand in the wine market and to launch additional verticals soon. In its first nine months of operation Lot18 grew to more than 400,000 members and employs over 80 people. To date the company has raised more than $13 million in funding. The company was co-founded in 2010 by Kevin Fortuna and Philip James. Lot18 is an invitation-only site that offers deals of up to 60% on premium wines. The company was founded in 2010 and is based in New York. Lot18 currently has more than 50 employees and over 200,000 subscribers. Its core product is member-only discounted access to premium wines through online deals. The company intends to use the funds to support the creation of new products and help grow the team. Lot18 operates a members-only online private sales club that curates limited-quantity, high-quality wines sourced directly by its procurement team and presented to enthusiast buyers. After Lot18 personal sourcing, the company curates and reviews each offer while the winery manages the sale and shipping. The service is modeled after Vente‑Privée and Gilt Groupe and seeks to give producers a way to reach new customers and build recognition outside traditional retail channels. Launch partners include Snooth.com and wineries such as Cornerstone Winery, Boisset Family Estates, and Foley Family Estates. The company’s stated goal is to provide members access to small-run, limited-availability wines while helping wineries engage new markets. Financially, Lot18 closed a $3.0M Series A and had previously raised a $500,000 seed earlier the same year.

Total raised

$43M

Funding rounds

4

Latest round

Series C

Latest activity

Nov 2011