Wine.com, an online wine retailer, has raised $32.5 million in debt and equity financing from funds managed by Goldman Sachs Asset Management's Private Credit Group.
The capital will be deployed to enhance Wine.com's customer experience, brand awareness, and scale of the company's market-leading infrastructure.
Growth capital investments will include:
- Product Innovation – Mobile makes up over 30 percent of Wine.com’s revenue, and millennials make up one-third of its customers. The company will continue to invest in features and services to help customers discover the world of wine, with confidence.
- Marketing – Customers are becoming increasingly loyal, as Wine.com earns their trust through world class selection and service. With a target audience of 10 million consumers, the company will invest in new channels and approaches to build brand awareness and attract new customers.
- Infrastructure – Wine.com operates a proprietary, multi-node fulfillment network, and will invest with the objective of enabling order accuracy and timeliness at multiples of its current scale.
