Fast-growing cocktail and nightlife app Hooch has raised $1.5 million in a funding round led by Blue Scorpion Investments (BSI), bringing its total funds raised to $2.7 million.
Access Industries founder Len Blavatnik, Burch Creative Capital’s Chris Burch, Olympic Gold Medalist Shaun White, philanthropist Russell Simmons and DSQUARED2 designers Dan and Dean Cate, also participated in the round.
Launched in New York in November 2015, Hooch describes itself as a virtual private cocktail society that helps members find the best bars to enjoy their favourite drinks, with close to 400 venues in nine markets in the US and internationally.
Members pay $9.99 per month or $99 per year and receive one round of cocktails at participating venues each day. The company claims to have grown its premium membership base by over 1,900% since January this year, and now boasts 70,000 subscribers in nine US cities as well as Hong Kong.
Lin DAI, co-founder and CEO of Hooch, said:
“We could not be more thrilled about the level of interests from such renowned investors and industry titans.
“It’s a strong vote of confidence from the Angels and VC community validated by our strong growth trends not only in membership, but drink redemption activities in general as the HOOCH App becomes the millennials’ nightlife app of choice.”