Added Funds for Alcohol Analyst Overproof

Alcohol sector market analyst Overproof has raised an additional $1.25m from unnamed existing investors, in its fourth round of seed funding.

Founded in 2018 by Marc De Kuyper (pictured), former CEO of Royal Dutch Distillers, Overproof offers an SaaS platform through which clients can create, execute, analyze and optimize brand strategies. The firm combines big data with proprietary market insights and customers' business data, to help fuel business growth; and its database includes more than 1.5 million on- and off-premise venues, with over 30 proprietary data points on each, such as menu insights, tasting conversion insights, and competitor supplier and distributor presence. Using prescriptive analytics that focus on patterns in historical data and use various statistical models to predict future behavior, the firm's Overproof Score gives customers a 'success probability' for any brand and venue combination.

Since launch, Overproof has raised more than $4m in private capital from multiple investors, and the latest funding will be used to roll out existing products, as well as launch new tools such as 'Tastings', through which brand managers can plan, schedule, execute and analyze on- and off-premise tasting programs. De Kuyper comments: 'Having the continued support of our investors is a testament to their enthusiasm and ongoing commitment to our mission. We are proud to have curated a sophisticated investor group who understand the value proposition of our products and solutions. I'm also particularly proud to have participation from our executive board in this round'.

The company, which has 27 employees based at its offices in Miami, Denver, and Santa Fe, Argentina, is online at www.overproof.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.