Poppi, a prebiotic soda brand launched in Dallas in 2015 by husband and wife team Allison and Stephen Ellsworth, has raised $25 million in a Series B funding round led by CAVU Consumer Partners.
The buzzy brand has come a long way—from the kitchen table to Shark Tank to TikTok sensation with more than 1 billion views.
Poppi’s drinks, which have less than five grams of sugar and 20 calories, combine real fruit and prebiotic apple cider vinegar.
The founders want people to drink to their health: Poppi’s “gut friendly” ingredients are targeted to better digestion, immunity, and radiant skin. The company calls Poppi a “secret weapon to stay hydrated.”
Allison Ellworth calls the category “functional pop.”
“Last year, we were at proof of concept, but now we are past that. We are seeing real revenue growth, real penetration and real trial. It’s been exciting to see. We’re here to play and a hot new brand,” she said in Techcrunch.
In the last 12 months, the pop brand has seen 148% revenue growth and rising online sales to the tune of 250%, according to the publication. The funding will be used to build brand equity—”getting more cans in hand.”
The startup raised $13 million last summer with backers that include some of pop culture’s biggest names in music, film, and sports: Halsey, The Chainsmokers, 24kGoldn, Kygo, Kevin Love, Ellie Goulding, Olivia Munn, Nicole Scherzinger, and the L.A. Lakers’ Russell Westbrook. The round was led by CAVU, which just “doubled down” leading Poppi’s Series B round.
Before its $13 million round, the company was bootstrapped.
Poppi has raised $40 million to date, Techcrunch noted. Crunchbase puts that number a bit higher at $52.3 million. Ellsworth didn’t share the valuation in Techcrunch, but noted it was an increase over previous rounds.
The brand says it’s established a direct store delivery network and doubled its reach to more than 20,000 locations. It announced a move to Austin last year “be closer to longtime partner Whole Foods.”
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