Los Angeles Female-Founded Bev Receives $7 Million in Venture Funding
Silicon Valley Bets on canned rosé company
Bev, the beverage company disrupting the male-dominated alcohol industry, today announced it has completed its seed round led by tech venture capital firm, Founders Fund, securing a $7 million investment. As a voice in an underrepresented industry for women, Bev is one of few alcoholic beverage companies to receive funding from Silicon Valley, and is Founders Fund's first-ever alcohol investment. The funding will be used to build out their brand platform, invest in new product development, and support the growth of their first product, a canned rosé, across the U.S.
In 2017, Founder and CEO Alix Peabody launched the company with the goal of challenging the status quo and changing the alcohol industry from the inside-out. Peabody hopes to build a brand centered around an inclusive, respectful drinking culture with an emphasis on creating female-friendly spaces. The company's unique approach to modernizing beverage includes building an on-and-offline community, female-owned social spaces, and omnichannel purchasing including direct-to-consumer. Within a year, Bev has grown to a team of twelve and successfully landed a first-of-its kind partnership with Reyes Distribution, the largest beer distributor in the nation.
"It has been humbling to see how our mission to 'break the glass' has resonated with all of our partners. We are incredibly excited and grateful for the support and we couldn't ask for better investors to have joined our team," says Alix Peabody, Bev CEO & founder. "We are building far more than a canned rosé, we're building a space for women in an industry that has long neglected them."
"Alix is a force to be reckoned with. She's on a mission to change the way the alcohol industry speaks to and about women, and she's created a powerful brand that really resonates with female consumers," said Lauren Gross, partner & COO at Founders Fund.
For more information on Bev, visit www.drinkbev.com.