This additional funding enables Vinfolio to move forward on its continued growth path
San Francisco, CA (PRWEB) September 1, 2009
Vinfolio, Inc.(http://www.vinfolio.com), the foremost source for fine wine, announced that it has raised $4.5 million in a Series A funding round led by Panorama Capital. Prior to this, the company had been funded by private investors. Named one of the Bay Area's top five fastest growing private companies by the San Francisco Business Times for the past two years, Vinfolio, which launched the Vinfolio Marketplace in July, offers a full complement of integrated services and resources to help wine enthusiasts and collectors buy, sell, manage and enjoy fine wine.
"This additional funding enables Vinfolio to move forward on its continued growth path," stated Vinfolio founder and CEO Stephen J. Bachmann. "The investment will accelerate the growth of the Vinfolio Marketplace and our expansion in Hong Kong." The Marketplace has quickly become the world's largest fine wine source with over 250,000 wines open for bidding. Following the elimination of wine duties in Hong Kong, Vinfolio launched operations there in 2008 to better serve and expand its business in the Asian market.
Shahan Soghikian, a Managing Director at Panoroma, will also join the company's board alongside Vinfolio Chairman Jean-Michel Valette, MW, (and Former Chairman at Robert Mondavi Winery), Colin Lind, Managing Partner at Blum Capital Partners, LP and William Timken, one of the founding partners of Hambrecht & Quist.
"With its impressive operational infrastructure, this dynamic company has already revolutionized how fine wine is bought and sold with an intense focus on the customer experience," says Soghikian. "With the launch of the Marketplace, Vinfolio has positioned itself at the nexus of the fine wine supply chain. Combined with its commitment to service, Vinfolio has established itself as a clear market leader"
About Vinfolio, Inc.:
Vinfolio is the foremost source for fine wine, serving wine lovers, enthusiasts and collectors worldwide. Through the Vinfolio Marketplace and wine store, Vinfolio offers an unprecedented supply of over 200,000 wines. Combined with Vinfolio's full complement of services and resources to find, buy, sell, manage and enjoy fine wine, Vinfolio delivers on its mission of "fine wine, finer service". Founded in 2003 and headquartered in San Francisco, the company also has offices in Hong Kong. For more information, visit http://www.vinfolio.com.
About Panorama Capital:
Panorama Capital is a venture capital firm focused on investments in emerging life sciences and technology companies. The firm's areas of focus include enterprise infrastructure, consumer services, semiconductors, mobile technologies and biotech. Panorama's investment team has a singular focus: helping entrepreneurs build market-leading companies. Panorama invests in entrepreneurs and teams who share its values: a passion to build great companies; an unyielding focus on people and teamwork; and a commitment to integrity. Panorama's philosophy is to make that same commitment to the teams it supports, over and above its financial investment, and to take a hands-on, highly collaborative approach to investing, bringing to each portfolio company the team's extensive operating and investing experience. More about Panorama at http://www.panoramacapital.com.