Madre Mezcal, named the fastest growing mezcal brand in America, has raised $3 million to apply the brand’s successful growth strategy to new products and new markets. The Series A round was led by Room 9, a New York City-based venture capital studio that specializes in investing in the consumer sector.
Madre has used a grass roots strategy to introduce consumers to mezcal. With the additional funding, Madre said it is poised to expand its word-of-mouth campaign largely driven by in-person activations and online engagement. The priorities of the brand will be to expand its product range to target new consumption occasions, while also expanding its distribution and marketing efforts in new countries, US states, and online.
“Madre’s success has been a result of working closely with the communities that have driven word-of-mouth for the brand,” says Chris Stephenson, CEO of Madre. “For us to expand while continuing this successful path, we needed a partner that recognizes the cultural authenticity that fuels our approach. With Room 9, we’ve found a partner that understands the growth opportunities through product, geography and digital expansion, and encourages the brand development through cultural engagement.”