Lot18 Raises $10 Million for Online Wine Sales

New York startup Lot18—which sells wine in limited-time “flash sales”— is only six months old, but it has already raised a Series B round of funding, according to Business Insider. The company raised $10 million from investors including NEA Ventures and FirstMark Capital. Lot18 is attracting 50,000 users a month and brought in sales of more than $1 million in April, cofounder Kevin Fortuna told BI. The company plans to use the money to hire 35 people and move to a bigger office.

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2 responses to “Lot18 Raises $10 Million for Online Wine Sales”

  1. Brian says:

    This is good to see. I have been impressed by the Lot18 brand and focus on quality of their offerings. There have been a lot of win offerings that I would not otherwise have been inclined to try otherwise. I am also glad to hear they are making further long-term investments, including those in their technology and infrastructure. There have been minor issues I have experienced that may be attributed to their rapid growth.
    If you have not had a chance to sign up and check it out, here is a referral invite link: http://www.lot18.com/i/FREEinvite