Drink Monday Announces $3M Capital Raise

SAN DIEGO, April 13, 2023 /Vwire/ — Drink Monday, award-winning non-alcoholic beverage brand, is pleased to announce the launch of their $3M capital raise, with the debut of their latest crowdfunding campaign on StartEngine with plans to also announce a formalized Series A capital raise later this year.

This fundraising announcement comes at an exciting time for the business with key updates across the company including a new product launch, appointment of a new CFO, and a fundamental shift in focus for retail expansion in 2023.

Monday’s New Spirit Launch

Drink Monday CEO Ken Young shared the following about the company’s innovation efforts, “Developing new, standout products thoughtfully and inline with market demands has been our process to date and the results speak for themselves. Our last release – Monday Mezcal – has garnered love and attention for its unique, spicy flavor profile.  We’ve been working on our next Spirit for the past year and can’t wait to reveal it during our upcoming crowdfunding campaign. We’re incredibly excited about the quality of the liquid and this will elevate our brand to four top-shelf offerings.”

Appointment of New CFO

Former CFO Garrett Potter recently moved from his operational role to the Board of Directors, his leadership during the company’s earliest days was essential to achieve the scale and success the brand has achieved. Anthony Domenici has been appointed CFO to support the growth and expansion of Monday into retail and provide strategic leadership with the company’s fundraising efforts. He joins with a diverse background in Wines & Spirits, Private Equity, and Real Estate, having spent the last few years supporting startups and emerging brands in the consumer packaged goods industry.

Anthony commented about his new role, “I’m incredibly excited about the opportunity to work with the Monday team and Garrett in his new role on the Board. The non-alc category is very dynamic right now, and Monday is a standout among brand peers. I will be focused on raising growth capital to support our ambitions to scale into brick and mortar.”

Retail Expansion Plans

Monday is gearing up for expansion into key markets, partnering with distributors and retailers to bring our award-winning products to customers across the country.

“We have an incredible direct-to-consumer platform, with customers in every state, and we’re excited to push the brand forward into places where our customers eat, drink, and shop,” states Ken Young, CEO of Monday. Young continues, “This is part of our larger strategy to become the gold standard for non-alc Spirits and truly building a consumer brand that stands out in the adult drinks landscape.”

These most recent company milestones all come on the heels of a landmark start to the the year already, with recent wins including hitting the 1,000 retail door mark, $9M in lifetime sales, launch on Drizly in initial markets, approval in 14 Total Wines and the appointment of a fully-stacked leadership and advisory committee.

Ken commented on their crowdfunding launch, “As a startup, we need additional capital to fuel our continued growth and crowdfunding was an easy choice given the success we’ve had in prior rounds. This will allow us to ramp up our retail strategy, put some boots on the ground, and prepare for our upcoming Series A.”

To learn more about the company’s StartEngine campaign now underway, click here; https://www.startengine.com/offering/drinkmonday.

About Drink Monday

Founded in 2019 by six San Diego entrepreneurs, Monday was created to serve people proper adult beverages without the alcohol. Their flagship range of award winning non-alcoholic spirits includes Monday Gin, Monday Whiskey, and Monday Mezcal. Monday’s spirits provide the look, feel, and most importantly – taste – of a top-shelf cocktail minus the alcohol many are taking a break from. Monday’s spirits are not only alcohol-free, but support a wide variety of healthy lifestyles with its zero-calorie, no carbs, zero sugar, Vegan, gluten-free, and Big-8 allergen-free profile.

Monday’s spirits were made for those who want an adult beverage experience with zero downside. To learn more, visit www.drinkmonday.co.

Source: PR Newswire

This press release originally appeared on Vwire