Drink Monday
About this raise
Drink Monday, with a valuation of $23.03 million, is raising funds on StartEngine. The company makes non-alcoholic cocktails that give the look, feel, and taste of adult beverages. The healthy and tasty beverages of Drink Monday work great for health-conscious consumers without putting tomorrow at risk. Drink Monday has generated $9 million in lifetime sales and has been featured in Forbes, Vogue, and HuffPost. Chris Boyd, Ben Acott, Marcelo Kertesz, Ryan Mulvany, Tonya Wearner, and Brad Seipp founded Drink Monday in June 2019. The current crowdfunding campaign has a minimum target of $15,000 and a maximum target of $1.5 million. The campaign proceeds will be used for sales and marketing, personnel, research and development, inventory, and working capital.
Investment Overview
Invested $381,073 :
Deal Terms
Company & Team
Company
- Year Founded
- 2019
- Industry
- Food, Beverage, & Restaurants
- Tech Sector
- Distribution Model
- B2B/B2C
- Margin
- Medium
- Capital Intensity
- Low
Team
- Employees
- 5
- Prior Founder Exits?
- Yes
- Founder Name
- Ben Acott
- Title
- CMO
- Founder Name
- Bradley Seipp
- Title
- Member of Board of Directors
- Founder Name
- Chris Boyd
- Title
- CEO
- Founder Name
- Marcelo Kertesz
- Title
- Chief Creative
- Founder Name
- Ryan Mulvany
- Title
- Amazon Channel Lead
- Founder Name
- Tonya Wearner
- Title
- Advisor
Financials
- Revenue +115% YoY
- $3,473,326
- Monthly Burn
- $77,397
-
Runway
- 5.7 months
- Gross Margin
- 40%
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Company Funding & Growth
Funding history
- Total Prior Capital Raised
- $2,517,099
- VC Backed?
- No
Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
---|---|---|---|---|---|---|
08/29/2023 | StartEngine | $23,027,288 | $381,073 | Equity - Preferred | Funded | RegCF |
06/28/2022 | SeedInvest | $24,500,000 | $426,089 | Equity - Preferred | Funded | RegCF / RegD 506(c) |
04/08/2022 | SeedInvest | $24,500,000 | $0 | Equity - Preferred | Not Funded | RegCF / RegD 506(c) |
04/16/2021 | Republic | $7,000,000 | $856,423 | SAFE | Funded | RegCF |
Growth Charts
Revenue History
Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.
Valuation History
Price per Share History
Note: Share prices shown in earlier rounds may not be indicative of any stock splits.
Employee History
Company Updates
Drink Monday is a non-alcoholic spirit startup selling gin, whiskey, and mezcal alternatives. The company was a Deal to Watch during its SeedInvest raise from January to April 2022 thanks to its 2022 revenue of $3.4 million and its positioning in the rapidly growing non-alcoholic beverage market.
The company made a radical pivot in its business model since its last raise. That led to founder Chris Boyd stepping down as CEO to be replaced by somebody more in line with the startup’s new strategy, Ken Young. Before joining Drink Monday, Ken ran a consulting company that supported companies in the consumer packaged good space.
I had a call with Ken to better understand the company’s recent changes and his vision for the startup. And I even got to taste the company’s three drinks.