In 2016 Cleveland Whiskey, a whiskey distillery in Cleveland, Ohio that uses Pressure Aging® to produce award-winning whiskies in a fraction of the time it takes to follow a traditional process, was one of the very first companies to launch an on-line funding campaign under the newly approved Regulation D, Title III program which allows the sale of “shares” to both accredited and non-accredited investors. It was a remarkable success, raising over $700,000 from 951 new investors.
The money was used to expand production which led to a record 61% revenue growth in 2017. Later this year Underground Rye™, an unconventional, unique and quiteinteresting rye whiskey, will launch. The very first “private label” bourbon is expected to launch while continuing to expand distribution of the newly released SmokerBRICX (www.smokerbricx.com), all of which expand the revenue base.
“Today we’ve opened a new investment round. We love the idea that our fans and community members can be a part of what builds Cleveland Whiskey,” said Tom Lix, Founder and CEO, “This campaign is structured so nearly anyone who supports what we are doing can invest at a level they are comfortable with and each level is not just shares in the company but it also comes with an incentive.”
This campaign will support continued capacity expansion, marketing programs to accelerate growth, and the engineering work needed to not only improve on existing
technology but develop the plans for the next move which will include a new, and much larger Cleveland Whiskey facility.