The new investment be will used to continue OYNB’s global growth, enhance its app technology, and further scale its lifestyle support system, which “facilitates sustained behavioural changes, through the power of community and connection”.
The latest fundraise comes after figures revealed last month showed that 9.4 litres of pure alcohol were sold per adult in Scotland last year on average – the equivalent to everyone over 18 drinking 18 units a week, and 6 per cent higher than in England and Wales.
OYNB was launched as a free service in 2015 by Ruari Fairbairns, who decided to take a break from alcohol following “enormous” social, peer and corporate pressures. After realising the effects were “life-changing”, he decided to help others improve their relationship with alcohol.
The company has so far raised nearly £2 million from more than 500 investors including ex-Facebook director Mark Cowan; chief executive and founder of Spartan and Death Race, Joe De Sena; and former global head of mergers and acquisitions at HSBC, Alain Renaud.
OYNB is aimed at those drinking more than three glasses of wine a week, and it now has more than 80,000 members in 137 countries, while it has generated more than £2.2m in revenue, with 85 per cent growth in its Alcohol-Free Challenge sales between February and June of this year.
Mr Fairbairns said: “We’re delighted to launch this latest crowdfunding round and we continue our global mission to help people change their relationship with alcohol and effect other positive behaviour changes, through the power of online community and connection. The funds will further support scaling of the business including the development of native IOS and Android Apps, which will make our service easily accessible to a wider audience.
“Our core mission remains focused on reducing individuals’ alcohol consumption and addressing negative habits through various behavioural science and positive psychology programmes.
“With research showing the detrimental impact of Covid restrictions on mental health and a significant rise in alcohol consumption as well as alcohol-related deaths, there’s a growing need both in the UK and across other parts of the world for the benefits of our programme.”