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VC Watch: Alcohol Delivery Startup Saucey Gets Funding

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On-demand alcohol delivery company Saucey managed to raise $5.4 million in series A funding. The funding led by Bullpen Capital was supported by Blumberg Capital, Structure Capital, as well as HashtagOne.

The funding is expected to support its market expansion plans.

The startup launched in 2013 has now 25 full time employees and 2,300 couriers. Saucey works with big and small retailers and makes sure that the pricing is lesser than that at the corner liquor store.

The company has presence in Los Angeles, San Francisco, San Diego, Sacramento and Chicago. It has plans to spread to Texas and Florida. Along with beer, wine and spirits, they deliver snacks, cocktail packages, cheeses, etc.

Chris Vaughn, CEO and Co-founder of Saucey said, "With more than half the alcohol consumption in the U.S. taking place in 10 markets, the win is in consolidating buying power through market penetration of key territories, starting with the biggest market, California."

James Conlon, Partner at Bullpen Capital noted that Saucey has successfully unlocked profitable markets as a Seed stage delivery company.

An average customer orders 23 times per year, while a vist by a customer at a brick and mortar retailer is 4-5 per year. Saucey has tie-up with retailers in each market and the delivery is done in 30 minutes.

Saucey uses custom-built ID verification process to make sure that minors are not ordering liquor using its app. Online alcohol delivery industry is $113 billion worth a year.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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