Splash named Bruce Cunningham president.
Splash, which was founded in December 2014 by the Imeson family, has been profitable since October 2015 and passed $11.0m in revenue last year. The appointment of Cunningham marks the first time a non-family member has been appointed to a senior management position in the company.
Splash also announced that it has appointed Auctus Capital Partners of Chicago as its exclusive advisor to assist the company in raising growth capital. This round of funding has been designed and timed to provide the company with the financial capability to move forward with the strategic projects that management believes will help ensure the company has the capacity to achieve its near term goal to become an industry leader in the direct-to-consumer wine space. The round, currently planned for $2.5m, is projected to be completed prior to Q4.