VC-backed Vivino raises $20m series-C

Existing backers Balderton Capital, Creandum and Seed Capital, along with Iconical, also took part in the round.

The latest round brings Vivino's total funding to $57m since it first received a capital injection from an institutional investor in 2011.

SCP is the family office of LVMH CEO Christophe Navarre, who became a non-executive director on the startup's board following the previous series-B funding round.

With the additional funding, Vivino plans to continue developing its technology and to further invest in its team, as well as expanding into the Hong Kong market.

Vivino was advised by London-based merchant bank Dial Partners. 

Previous funding
Danish VC Seed Capital was the first venture backer of Vivino, investing an undisclosed amount alongside Skype co-founder Janus Friis in June 2011, according to Unquote Data.

Vivino raised its series-A in December 2012, landing $1m in a round led by Swedish VC Creandum, alongside existing investors.

A follow-on series-A was completed in July 2013, with Balderton leading the top-up with a further $10.3m on the initial funding round.

Additional investors backed the company in May 2015, including the angel investment vehicle of US basketball player Carmelo Anthony, Melo7 Tech Partners.

The app raised a $25m series-B led by SCP in January 2016.

Company
Founded in 2010, Vivino is a Danish social media app focusing on wine. The company's app lets users identify wines from its database, and discuss tasting notes, ratings and pricing with other users through the app's community. It also allows users to buy wine through the app.

Previously headquartered in Copenhagen, Vivino is now based in San Francisco. The app has 29 million users.

People
Vivino – Heini Zachariassen (founder, CEO).

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• Topics
• Expansion
• Nordics
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• Denmark
• Balderton Capital
• SEED Capital
• Creandum
• Venture