HOOCH™ App Kicks Off New Financing Round
Revelis Capital Group Leads Series Seed Funding Growth for Top Subscription Drink App
New York, Aug 16, 2017 – HOOCH, Inc. (“HOOCH”), maker of the popular subscription drink app Hooch, announces the first closing of its new Series Seed round. Rapidly growing since its debut in November 2015, HOOCH echoes the Prohibition Era speakeasies by creating a virtual cocktail society and helping you find the best bar to enjoy a free drink every day. Hooch is available at 500 plus top bars and restaurants in 10 cities around the world, and has been featured in many top press outlets including TechCrunch, Forbes, CNBC, LA Times to name a few. The new round of funding will further fuel Hooch App’s rapid growth through marketing and expand Hooch services to additional cities both in the U.S. and internationally.
Revelis Capital Group, a Denver and Aspen CO based venture capital fund, whose partners and LPs have deep relationships with leading companies in both consumer tech and the hospitality industry, is leading the new Series Seed round. Additional participants in the round include various angels and top New York venture firm FJ Labs, known for its portfolio of top marketplaces and consumer facing startups including Alibaba, Adore Me, Let Go, and more. The first closing of the round procured $1.5M, while the company plans on raising up to $3.5M additional in one or more subsequent closings in the following months.
“The alcohol and spirits sector has long lagged behind other industries when it comes to technology innovations. Hooch is building a unique and multi-faceted platform that bridges the data gap. We see tremendous opportunity in Hooch, both as a subscription service and data provider”, says Oliver Hopkinson, co-founder of Revelis Capital Group.
HOOCH members pay $9.99/month (less than the price of one cocktail) or $99/per year and are given one round of cocktails on HOOCH at participating venues. Each venue offers HOOCH members a specially curated drinks menu where they can select one cocktail to enjoy with friends. Winner of the Anheuser-Busch/ZX Ventures Start Up Competition at SXSW, HOOCH works closely with major alcohol beverage distributors and manufactures and provide them with intelligent on-premise demographic and preference data in real-time that is proprietary and first of its kind in the industry.
“We are excited to have kicked off the new round with strong partners such as Revelis Capital Group and FJ Labs,” says Lin Dai CEO of Hooch, “We are thrilled to have a strategic investor such as Revelis further fueling Hooch’s growth through national accounts partnership with some of the biggest brands in the hospitality industry worldwide; as well as the opportunity to learn from some of the internet’s most successful marketplace technology companies in the FJ Labs portfolio.”
The brainchild of tech industry expert Lin Dai (Keek, Emmis NY and Alloy Media + Marketing), digital marketing entrepreneur Jared Christopherson (Yellow Hammer Ad Agency), and nightlife veteran Aleksey Kernes, HOOCH is the first “Private Cocktail Society” subscription app that offers its members a round of drinks each day at some of the top cocktail bars, elite lounges and premiere restaurants in 500 plus top bars and restaurants across 10 cities worldwide.
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