Female-Founded Bev Receives $7 Million in Venture Funding
Bev, a female-centric beverage company, completed a $7 million seed round led by tech venture capital firm Founders Fund. 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.
In 2017, founder and CEO Alix Peabody launched Bev with the goal of building a brand centered around creating female-friendly spaces. The company’s unique approach 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.
The company plans to use the funding to build out their brand platform, invest in new product development, and support the growth of their first product, a canned rosé, across the US.