Tech Cocktail Receives $2.5 Million In First Round Of Funding
Tech Cocktail is a technology media company that has raised $2.5 million in their first round of funding. The funding was provided by Downtown Project, a Las Vegas organization started by Zappos CEO Tony Hsieh. The company plans to use the funding to grow their team and expand their coverage internationally.
Frank Gruber and Eric Olson started TechCocktail in Chicago back in 2006. The company hosted many events throughout the nation including Detroit, Washington D.C., L.A., San Francisco, Austin, and Vegas. At the event, startups would give demos of their products.
“Over the next year, Tech Cocktail will focus on deepening the coverage, exposure, and resources we currently provide to new startups and startup regions all across the United States and the world. And following in the footsteps of our past conferences and festivals (e.g. Startup Mixology, DCWEEK) we’ll soon be announcing an exciting new national platform for startups and their regions around the country,” said Gruber in a blog post.
Some of the companies that demoed at Tech Cocktail include Groupon, AddThis, Foodspotting, and Wine Library. This is the first time that Tech Cocktail raised funding as they bootstrapped in the last 7 years.
Tech Cocktail moved to Las Vegas to support Hsieh and Downtown Project’s efforts to build a technology community in the area. The company recently hired Gabriel Shepard and Justin Thorp for business development and sales.