Drizly app has announced that it has raised $13 million in Series A round of funding. The funding was led by Polaris Partners along with participation from existing investors Suffolk Equity and First Beverage Group and others.
Drizly lets users order all kinds of spirits, beer and wine direct to their location. The app’s mechanism integrates with the POS(Point of sale) system in liquor stores, so that orders which come through the mobile app,and are readily updated at the vendor’s counter for delivery.
The American company earns its revenue by charging a monthly licensing fee for the technology from the vendors. That fee varies based on the location of the store, volume of transactions, and other factors.
The app currently operates in a few US cities. With the newly acquired funding, they intend to operate in 30 more cities by the year end, reports Techcrunch.
The alcohol on demand app was founded in 2012, with a view to bring ‘Alcohol from your phone to your door in 30-60 minutes.’ The company is based in, and operates from Boston.Category Investments Startups