We’re switching up our usual Wisdom Wednesday theme this week for a Wander + Ivy Wednesday instead. This week Dana Spaulding, Wander + Ivy CEO and Founder, walks us through the State of the Business. Watch the full conversation here on IGTV or below!
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Dana started Wander + Ivy in 2017. Through hard work, dedication and passion, Dana has had tremendous success in growing the brand. During this time, there’s been distribution growth, capital raised, and new team members added to the mix. Particularly the last 18 months have been an exciting ride and time for Wander + Ivy!
While many brands did not have the same experience, in 2020, Wander + Ivy grew 450% year over year in terms of sales. It was the biggest year yet! In the first half of 2021, Wander + Ivy grew over 250% on both the Direct to Consumer (DTC)and Wholesale sides. Additionally, and most excitingly, the nationwide distribution footprint has tripled this year! In 2020, Wander + Ivy wine was available in 4 states, this year we’re so thrilled to be available in 13 states with continued state expansion planned and expected. To view all our current states and retailers check out our listing here. It should also be noted that while we have a team of folks, Dana truly leads sales and new state expansion. She does an amazing job at introducing the brand to key decisions makers in each state.
History of Fundraising
The startup fundraising world is a business in itself. For anyone familiar, you know how time-consuming this piece of starting a business can be. Wander + Ivy has had some huge wins in this department that we are excited to share with you.
But first, a little history and recap of fundraising wins to date…
A little over a year ago, Dana was connected with our now COO + CMO, Amanda Gunville in a unique way. Amanda was part of an investment group that has a passion for investing in female-led companies. Dana was pitching to Amanda’s group (while 8 months pregnant we should add!)and the rest is history! Amanda loved what she saw and wanted to become part of it, and here we are!
Asa note, less than 3% of funding goes to women-led businesses, even though the data shows those who are investing in women-run businesses, typically see double the return on investment in comparison to companies led by men. Additionally, the majority of female-led companies don’t make it to raising above $1 million in capital. Wander + Ivy has raised multiple rounds of million-dollar funding. Dana shared some tactics behind the successful rounds, “what has been most beneficial is tracking progress to prove sales data and then demonstrating that women can succeed and often time outperform our male competitors in the space.” Dedication, consistency, and data to support, has been a key driver in the successful capital raises of Wander + Ivy.
As another exciting note, Wander + Ivy just closed the largest round of investment at 7-figures in July 2021! We can’t wait to report more on investment rounds and how these funds help us continue to grow!
Dana started Wander + Ivy in 2017 by herself and ran as a one-woman show for quite some time. However, she recognized that you can only grow with a team and for the past few years the team has really expanded. In addition to Dana and Amanda, Wander + Ivy has a head winemaker, a leader of all national chain business, a chief staff, a new Colorado sales point person, and a marketing and customer service manager. The team is made up of dynamic and incredible people who believe in the brand and the mission of Wander + Ivy. Without the investment capital behind the brand, the expansion of staff would not be possible, which is another reason why funding is so crucial at this point in the business.
We hope you enjoyed our State of the Business update! Have other questions on the state of Wander + Ivy? Are there other business topics you’d like us to cover? We’d love to share more, let us know what you think!
Shop all of our single-serve wines made with organic grapes on our online wine shop.