Lot18, a membership-by-invitation marketplace for wine from renowned producers across the United States, has completed a $3m Series A round of funding.
The investment was led by New York City-based venture capital firm FirstMark Capital, with participation from returning backers and angels from top companies such as Quigo, Time Inc., AOL, Ziff Davis, Bankrate and Experian,
This round follows a $500,000 seed round closed earlier this year.
Lot18 intends to use the proceeds from the financing to accelerate growth of its direct producer-to-consumer sales platform.
Launched in 2010 by Philip James, founder of Snooth.com, and Kevin Fortuna, a veteran technology entrepreneur, Lot18 is designed to provide members with access to fine wines, made available in small quantities and limited runs. The team of the company is comprised of experts in user experience, e-commerce, and wine.
At launch, top wineries in the marketplace include Cornerstone Winery, Boisset Family Estates and Foley Family Estates.