Florida Funders, a hybrid venture capital fund and crowd-investing platform, today announced the exit for Bridge, a technology and data-driven solutions provider for the beverage alcohol industry. Bridge was acquired by SevenFifty Technologies, the leading online marketplace and data platform for the US beverage alcohol industry. Florida Funders was the lead investor in Bridge’s price equity round in November 2019, which also included Manole Capital Management and a number of angel investors.
“Florida Funders celebrates Bridge’s acquisition by SevenFifty as it marks a notably successful exit for our firm,” said Tom Wallace, managing partner for Florida Funders. “Bridge brought an invaluable service to companies and made them a key player in the beverage alcohol space. We look forward to adding startups as diverse and distinctive as Bridge to our portfolio and bringing more success stories to the Startup State.”
SevenFifty, founded in 2012, is an industry-leading communication platform and marketplace helping tens of thousands of importers, producers, distributors, and retail buyers in 42 U.S. markets connect with each other and do business in a modern world. Following the acquisition, this summer will bring the rollout of SevenFifty StoreFronts, its new ecommerce platform with the ability to scale Bridge’s services with SevenFifty’s existing database of more than 25,000 off-premise retailers.
“We are fortunate to have received the level of ongoing support and guidance that we did from Florida Funders,” said Alex Miningham, co-founder and CEO of Bridge. “This acquisition is testament to the hard work and successes that our team at Bridge has achieved, but it is also the result of the supporters and partners we made along the way believing in our brand, vision and goals.”
Bridge’s services connected beverage alcohol wholesalers and retailers with the tools to better understand and effectively target their consumers. Bridge Retail, its web and mobile ecommerce application software, bypassed the “Three Tier System” by allowing retailers to sell beer, wine and liquor to consumers directly and also collect data on in-store transactions. Bridge Intelligence is its software-as-a-service based platform that generates insights and analytics collected by Bridge and third-party partners and makes it available for purchase to wholesalers and suppliers.
Bridge is a technology and data-driven solutions provider for the beverage alcohol industry that leverages the power of artificial intelligence to transform raw data into actionable insights to drive bottom-line results for brands, wholesalers, and retailers. Data is Bridge’s secret weapon with intelligence on over 67 million beverage alcohol consumers on an easy-to-use platform. Bridge Intelligence wants to arm beverage professionals with the tools they need to operate effectively in the marketplace.
SevenFifty is an online marketplace and communications platform that helps importers, producers, distributors, and retail buyers connect with each other and do business in a modern world.
About Florida Funders, LLC
Florida Funders is a hybrid venture capital fund and crowd-funding platform that discovers, funds and builds early-stage technology companies in Florida. We exist to evolve Florida from the Sunshine State to the Startup State by ensuring there is as little friction as possible in the ecosystem, that investors have access to meaningful deal flow and entrepreneurs have access to a wide range of accredited investors. Florida Funders educates and ignites its community of investors and network of partners to drive investment in the most exciting startups Florida has to offer. Our one of a kind crowd-funding platform provides transparency, fosters communication and empowers strategic relationships between the investor network and the founders. Our team is composed of serial entrepreneurs, venture capitalists, and experienced angel investors singularly focused on uncovering Florida’s next breakout technology company. To learn more, visit www.floridafunders.com