VillageVines, a New York-based company that operates a members-only website offering preferred pricing at exclusive restaurants nationwide, completed a $3m Series A financing.
Investors include Hearst Interactive Media, GrandBanks Capital and High Peaks Venture Partners.
The company, which had raised an initial $750,000 round of seed funding from business angels, intends to use the capital to:
– increase its marketing efforts,
– hire new staff,
– close other affiliate partnerships like those already existing with MenuPages, New York Magazine, Plum Benefits, Foodspotting and TimeOut New York, and
– expand to more domestic and international cities, which already include New York, Los Angeles, Chicago, San Francisco, and Washington, D.C.
VillageVines enable members to access a curated selection of restaurants, book their reservations online and enjoy exclusive discounts off their entire bills (generally 30% off the entire meal, including alcohol).
The website list of restaurants includes New York’s Le Cirque and Delmonico’s; Washington, D.C.’s Prime Rib and Vidalia; Los Angeles’ Il Grano; Chicago’s Sprout, and San Francisco’s Saha.
FinSMEs
10/01/2011