Drync Bought By Tech Venture Firm

Consolidation appears afoot in the digital alcohol space.

Proof Network Ventures, a technology development and data solutions company, today announced its acquisition of Drync, the private-label mobile application and ecommerce company for beverage alcohol retailers.

Proof Network Ventures purchased Drync seven months after completing its acquisition of Tipsi, another provider of private-label mobile ecommerce options.

Financial details of this latest purchase were not disclosed.

“We are excited by this transaction, as it allows us to significantly increase our coverage at the retail tier,” says Proof Network Ventures’ CEO Alex Miningham. “Our combined retail coverage now includes more than 200 stores across 15 states, which is a larger footprint in aggregate than Total Wine.”

Over the coming months, Proof Network Ventures will merge the Tipsi and Drync platforms into a single, best-in-class, mobile and web ecommerce solution, the company says.

Highlights of the new platform will include product delivery and pickup, streamlined order management, in-store and online marketing solutions, and robust analytics and reporting.

“We couldn’t be more pleased about this next chapter for Drync,” says Brad Rosen, CEO of Drync. “Proof Network Ventures impressed us not only with their ambitious vision within the beverage alcohol market, but also their commitment to leverage, invest-in, and broaden the Drync platform.”

Throughout 2019, Proof Network Ventures will also expand its brand partnership business, the company says, which deliver product-specific content and promotions to targeted and segmented consumer audiences.

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