Female-founded beverage startup Bev receives $7 million to disrupt the male-dominated industry
Bev, a mission-driven beverage company challenging and redefining the landscape within male-dominated alcohol industry, has raised $7 million seed round to build a more inclusive, respectful drinking culture. The round was led by tech venture capital firm, Founders Fund.
Founded in 2017 by CEO Alix Peabody, the Venice, California-based Bev wants to create a mission-driven community that encourages everyone to experience fun on their own terms. Peabody hopes to build a brand centered around an inclusive, respectful drinking culture with an emphasis on creating female-friendly spaces. The company’s unique approach to modernizing beverage 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.
Bev’s goal is to challenge the status quo and change the alcohol industry from the inside-out. They are breaking the glass by challenging male-dominated industries and building a more inclusive, respectful drinking culture. Their first product is the refreshingly crisp and dry, canned California rosé wine made with the highest quality grapes from the central coast of California. This proprietary blend has bright aromatics of strawberry, raspberry, white peach and watermelon. Made specifically for a can, every can of Bev has 11.9% ABV, 0 grams of sugar, and 3 grams of carbs. Bev is currently available in Southern California and for purchase direct-to-consumer online.
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. The funding will be used to build out their brand platform, invest in new product development, and support the growth of their first product, a canned rosé, across the U.S.
“It has been humbling to see how our mission to ‘break the glass’ has resonated with all of our partners. We are incredibly excited and grateful for the support and we couldn’t ask for better investors to have joined our team,” says Alix Peabody, Bev CEO & founder. “We are building far more than a canned rosé, we’re building a space for women in an industry that has long neglected them.”
“Alix is a force to be reckoned with. She’s on a mission to change the way the alcohol industry speaks to and about women, and she’s created a powerful brand that really resonates with female consumers,” said Lauren Gross, partner & COO at Founders Fund.