Participated · Series B · Mar 2016

Juicero builds an Internet-connected countertop device that cold-presses juice from single-use "packs" of prepped fruits and vegetables. Its $699 machine works with proprietary packs priced $4–$10 each, available through a Juicero subscription and currently sold only in California. Packs include a QR code so the company can track how much juice customers make and which recipes they favor; the app suggests recipes and pouches to buy. Founded by Organic Avenue co-founder Doug Evans, Juicero positions the product as a way to deliver organic, cold-pressed nutrition at home or in offices while reducing junk-food consumption. The company emphasizes hardware quality and design and sees its inventory-tracking data as useful to organic farmers for predicting demand. Financially, Juicero completed a $70 million Series B led by Artis Ventures and counts multiple prominent venture and strategic backers.

Participated · Series A · May 2015

Drizly Group operates an online marketplace for beer, wine and spirits that provides a transparent shopping experience where consumers can compare stores on price, delivery time and overall rating. The company is led by CEO Cory Rellas and is based in Boston, MA. It operates in 235 markets across North America through a network of 3,300 independent and chain retail partners. Drizly also houses Lantern, an independently operated online cannabis commerce company launched in March. Lantern is currently operating in Massachusetts and Michigan. Drizly intends to use new funds to further accelerate product and customer growth. Drizly operates an on-demand delivery app that displays local store prices and delivery or pick-up options for beer, wine and spirits. The company partners with approximately 1,000 brick-and-mortar liquor stores across the U.S. and Canada and says deliveries arrive in less than an hour. Drizly recently completed a $34.5 million financing, roughly doubling its prior $33 million in total funding. Over the past year it has added a CMO, CFO and head of HR and in late summer shifted co-founder Nick Rellas into an advisory role while Cory Rellas became CEO. The company made its first acquisition in July, absorbing Buttery and integrating that startup’s backend technology and employees. Drizly says Cory’s operational experience and time at Bain Capital position him to lead the company through its next stage of growth. Drizly operates a marketplace and commerce platform that lets local liquor stores list beer, wine and spirits, showing shoppers local prices and delivery or pickup options via web and mobile. The company has shifted from an on-demand delivery model toward a metasearch‑style marketplace for alcohol e-commerce. Stores pay a monthly licensing fee to use Drizly’s software and sell through its platform; Drizly sets prices per market based on local spend and delivery costs. The company is using recent capital to build new features and services, expand into more US regional, suburban and rural markets, and roll out in-store pickup nationwide. Drizly also plans to develop personalized recommendations to engage different customer segments, such as corporate bulk buyers and wine enthusiasts. The business faces competition from general food e-commerce players and other alcohol-focused apps but cites legal and infrastructure advantages from four years of work. Drizly provides technology infrastructure and an e-commerce platform that enables liquor retailers to offer on-demand delivery and manage orders. Users can browse a wide variety of beer, wine and spirits and see delivery windows and prices from retail partners. Retail partners receive orders through Drizly and fulfill deliveries with their own staff, paying Drizly a slice of each transaction. Drizly Connect, launched earlier this summer, offers longer delivery windows up to 48 hours and positions the company as an Amazon Prime–like option for alcohol. According to CEO Nick Rellas, around 40% of orders on the platform are placed at least 36 hours in advance. The company currently serves 23 markets and is on pace to be in 30 markets, including some in Canada, by the end of the year. With this round, Drizly’s total funding stands at $32.8 million. Drizly operates a mobile app that lets users order spirits, beer and wine from local liquor stores and have them delivered. The system integrates with liquor stores' POS so orders flow directly to vendors for fulfillment, avoiding the need to build Drizly-owned delivery infrastructure. Drizly intentionally partners with stores that already offer delivery and charges vendors a monthly licensing fee that varies by location and transaction volume. The service is handling orders in the low tens of thousands each month and is reporting roughly 25% month-over-month growth across major markets. Drizly is currently live in multiple U.S. cities and aims to expand to about 30 markets by year-end. A partnership with the Wine & Spirits Wholesalers of America gives Drizly access to a network of wholesalers to help onboard more vendors.