Liquor Loot raises $1 million ahead of Gin Loot subscription service
Liquor Loot, the three-year-old subscription service which launched delivering curated whisky collections, has completed a $1 million Series A funding round, just ahead of launching its new Gin Loot spinoff.
“The last three years have been incredibly exciting for the business as we’ve grown 400 per cent year on year and broke $500,000 in monthly revenue earlier this year,” says CEO Joel Hauer.
Liquor Loot describes itself as a ‘spirit as a service’ model, delivering whiskies and gins sourced from around the world to its subscribers every month. With Whisky Loot, the bottles arrive in a premium box with expert tasting notes and videos to guide buyers.
Investors in the funding round, launched amid the pandemic and closing early, include former AFL identities Jobe Watson and Cale Hooker; Koala co-founders Dany Milham and Mitch Taylor and Melbourne’s Eli Labs.
Hauer says the new funds will allow the business to continue to grow, including expanding its staff from four at the start of the year to 15.
More than 8000 subscribers have already signed up for Gin Loot, which will make its first delivery in December.
“We are witnessing a new way people want to discover their favourite spirits, coupled with a less volume, higher quality consumer consumption trend,” says Hauer. “We continue to see mounting interest and support in our products from both distilleries and consumers.”