ReserveBar, the established leader in premium spirits ecommerce, has announced the closing of its Series B financing. The investment round was anchored by Silver Lake, the global leader in technology investing, and a group of leading ecommerce and technology investors led by Doug Dillard, Jr., Managing Partner of Slewgrass Capital and a Silver Lake advisor, who will join ReserveBar’s Board of Directors. The raise will continue to establish ReserveBar as the premier online premium and luxury spirits destination, while enhancing inventory optimization, marketing efficiency, and a one-of-a-kind user experience.
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“We couldn’t be more excited to have Silver Lake and the extremely talented investor group led by Doug as our partners,” stated ReserveBar’s co-founder and CEO, Lindsay Held. “The Series B funding will accelerate the unprecedented growth we’ve experienced and will greatly expand opportunities for ReserveBar’s spirits brand partners in the realm of content-to-commerce, cutting edge digital marketing and media tactics, data and analytics, efficient execution of new limited edition products, and technology enablement for our supplier partners. This is a win not only for ReserveBar but also our spirits supplier partners and growing retailer network.”
“We are pleased to partner with Lindsay and his team at ReserveBar in supporting the company along its accelerating growth path,” said Doug Dillard. “The strength of the relationships they have developed, together with their visionary use of technology, are reflected in the company’s remarkable business performance as well its compelling long-term platform opportunity.”
“This investment will enable the continued evolution of ReserveBar’s industry-leading technology, expansion of our API and ecommerce solutions powering compliant beverage alcohol sales on partner sites, enhancements to our data and business intelligence offerings, and continued improvements to our technology integrations with our retail network partners,” said Derek Correia, President of ReserveBar. “Importantly, it will also enable us to continue to grow our amazing team with more of the best talent in the business, and fuel expansion of our marketing service offerings to our brand partners, enabling them to continuously improve the efficacy and efficiency of their digital marketing spend to optimize depletions.”
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ReserveBar has also named Jim Clerkin as Chairman of ReserveBar’s Board of Directors. Mr. Clerkin was most recently President of Moët Hennessy Strategic Development after 13 years as President and CEO of Moet Hennessy Americas.
In announcing Mr. Clerkin’s appointment, ReserveBar co-founder, Jeff Carton, said, “Jim has been a friend and supporter of ReserveBar since its launch, and it’s an honor to have such a respected veteran leader in the spirits industry join our team. Together with Silver Lake’s investment, I can’t think of stronger validation of the enthusiasm and excitement we’ve harnessed for our multifaceted business offerings, ranging from personalized gifting of luxury spirits, consumer discovery of new and limited editions, technology and data, performance marketing, and connecting consumers with their favorite suppliers via our content-rich ecommerce platform combining brand education, immersion and access to convenient online purchasing.”
Silver Lake is making the investment in connection with its Long Term Capital strategy, which was established in 2020.
Demeter Group served as ReserveBar’s financial advisor on its Series B financing and will continue to provide strategic and financial advisory services post-closing.
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