Thirstie announced today it has raised $7 million in Series A funding, and that it is partnering with Drinkworks to electricity the e-commerce encounter for that the cocktail-making system made by Keurig and Anheuser-Busch.
Co-founder and CEO Devaraj Southworth implied this really is emblematic of the organization’s latest management — instead of building a consumer program for alcohol delivery (that is exactly what Thirstie concentrated on originally ), the firm now works with alcohol manufacturers such as Dom Perignon, Clos19 and Maker’s Mark to make e-commerce and delivery encounters.
Southworth explained this is attractive to manufacturers since “there’s a whole new generation of digital-first, mobile-first consumers and there’s an opportunity to increase revenue.” More important, he said, is “the data opportunity — the data belongs to our brand partners, the data doesn’t belong to a marketplace.”
And while Thirstie is currently focused on building a business, it is still benefiting from this community of alcohol retailers the firm made because of its customer program.
Southworth explained stated that although Thirstie lets you purchase a bottle directly in the Dom Perignon site, it is really routing orders “throughout the community,” so they are fulfilled by accredited retailers. This implies alcohol manufacturers can create a direct connection with customers while staying compliant with that the three-tier alcohol supply system.
And by the Thirstie standpoint, this also entails building a considerable business without needing to invest millions of dollars into advertising a consumer program.
Presently, Thirstie stated it supports in-store delivery in over 30 cities, and may also send to any place where transport alcohol is lawful.
Looking forward, Southworth intends to keep on growing Thirstie’s data technologies — not only creating dashboards where manufacturers can see their own customer information but also doing more to aggregate this information to provide manufacturers an anonymized, industry-wide view.
“Down the road, there are some very interesting products we can build that can — if the brands are interested — be shared,” he said. “It will be more of a shared marketplace, so all of the brands are going to benefit.”
Thirstie has raised a total of $12 million, with all the new financing coming from Queens Court Capital.
“While some companies have taken capital from industry players to rapidly accelerate the growth of their business, Thirstie realized this could create bias if done too early,” said former Citibank CEO Joe Plumeri (who invested through Queens Court) in a statement. “We admire that Thirstie decided it was more important to scale at a pace that is manageable and allows them to remain independent, and we’re excited to help them achieve their goals.”