Avaline is celebrating its one-year anniversary and the closure of its $9.5M Series A round of VC funding. In it’s seed round, the Cameron Diaz and Katerine Power-founded wine company had support from established VC partners Greycroft and Sonoma Brands in addition to celebrity investors Nicole Richie and Gwenyth Paltrow. Now with Greycroft leading the Series A round, they partnered with Marcy Venture Partners, H Venture Partners and Plus Capital. The Series A will fund building out the team, funding the brand’s continued growth in retail, accelerating the direct-to-consumer (DTC) platform, as well as expanding both internationally and into new categories. Revenue is on track to quadruple in 2021 vs. 2020.
Avaline officially launched in July 2020 with a White and Rosé, immediately gaining a dedicated following and resulting in impressive sales. Avaline White was ranked the #1 Ultra-Premium White Blend, driving 47% of the overall category growth, while Avaline Rosé ranked #8. Source: (26 weeks ending 4-4-21, SPINS)
In October 2020 Avaline launched its Red, then followed shortly after with a Sparkling in December. In addition, the brand continued to meet consumer requests by adding nutritional information and ingredients to all new labels, as well as sharing more information on the producer partners.
What is the key to Avaline’s growth? A blend of product and marketing white space. “We saw such an opportunity, not only in offering a wine made from organic grapes with very low intervention and additives but also to create a brand that this modern consumer connects with emotionally through digital channels,” shares Katherine.
While not legally required, Avaline is one of the few wines that discloses ingredients and nutritional information right on the label. The brand believes in allowing its customers to make the most informed decisions when it comes to purchasing wine. The wines are all vegan-friendly, made with organic grapes and without unwanted extras meaning you never have to question what’s in your glass.
The collection of clean wines currently includes White, Rosé, Red, Sparkling and the newest release, Sparkling Rosé 375ml, a limited-edition, DTC-exclusive. The products are currently available in retail locations in 46 states and direct-to-consumer in 13 states. By the end of the year, the brand plans to ship to consumers in almost 40 states via its official website.
