DALLAS--(BUSINESS WIRE)--Please note revised headline and first paragraph in release dated Aug. 30, 2021.
The updated release reads:
LEADING PREBIOTIC SODA BRAND POPPI ANNOUNCES $13.5M INVESTMENT ROUND LED BY TOP CONSUMER FUND CAVU VENTURES AND FURTHER BACKED BY CELEBRITY INVESTORS, INCLUDING HALSEY, ELLIE GOULDING, KEVIN LOVE, OLIVIA MUNN AND MORE
The TikTok Viral Beverage Brand Closes $13.5 Million Funding Round with Support from the Sports + Entertainment Industries
Poppi, the leading brand in prebiotic soda, has closed their latest round of funding led by existing investor CAVU Venture Partners. As part of their latest round, Poppi is also bringing on a star-studded group of investors from some of pop culture’s most notable personalities. Famous names in the music, film and sports industries like Russell Westbrook, the Chainsmokers, 24kGoldn, Kygo, Halsey, Kevin Love, Ellie Goulding, Olivia Munn and Nicole Scherzinger alongside highly-influential social media personalities like Chantel Jeffries, Bryce Hall, Noah Beck, Josh Richards, Griffin Johnson and Blake Gray. All are placing their bets on the better-for-you beverage, and they will be joining both Poppi and leading consumer fund CAVU Venture Partners in helping to pave the way for the beloved functional soda brand.
Poppi’s latest investors join the fast-growing brand on its mission to reinvent the beverage category with clean, functional and genuinely delicious soda. Each can delivers approximately a tablespoon of apple cider vinegar (ACV) alongside sparkling water, real fruit and plant-based sweeteners – the perfect balance of gut-friendly prebiotics that aid in digestion, immunity and glowing skin.
“We’re really excited to have these new celebrity partners as an extension of our Poppi team – we have no doubt that they will play important roles in helping us scale awareness and grow our community as we continue to challenge big soda. We firmly believe in the product we’ve created and consumers’ desire to choose prebiotic soda made with far less sugar, no artificial ingredients and gut health benefits over other soda options on the shelves today,” says Stephen Ellsworth, founder and CEO of Poppi.
This latest funding round comes as functional soda becomes the fastest growing category in all of beverages (up 465% y/y based on 52-week data from SPINS ending March 21, 2021) with proceeds from the round being used to expand distribution, scale our internal team and continue to invest in major marketing opportunities.
Global music superstar Jennifer Lopez recently expressed her love for the bubbly brand after making it her behind the scenes beverage of choice, stating, “Poppi was my go-to soda on set while filming Cambia El Paso – tastes so good and good for you too!”
Over the past year, Poppi cemented its place as the #1 brand in SPINS’ MULO segment of the functional soda beverage category with annual growth of 7,509% outperforming all other category competitors in the MULO segment (4-week data from SPINS ending June 13th, 2021).
“Poppi is disrupting the multi-billion-dollar soda category by offering great tasting, low sugar, bubbles with benefits wrapped up in a culturally relevant brand,” said Rohan Oza, co-founder of CAVU Venture Partners. “As a digital first, celebrity and influencer favorite, Poppi has exploded into the marketplace over the last year and a half, growing exponentially both online and at retail. Poppi is the soda for the modern generation and we’re thrilled to be leading this raise.”
Poppi was founded in 2020 by husband-and-wife duo, Stephen and Allison Ellsworth, after Allison recognized the gut healing power of apple cider vinegar (ACV) for her chronic health issues. Knowing she wasn’t the only one who could benefit from a better tasting ACV experience, she set out to create a digestive health product that would make each ACV sip nothing short of enjoyable. The brand’s latest funding round – and rapid growth – is proof of the power of its mission since landing a major deal with CAVU Ventures co-founder, Rohan Oza, on Shark Tank in December 2018.
At $2.49 per can, Poppi comes in nine flavors – Watermelon, Strawberry Lemon, Raspberry Rose, Orange, Ginger Lime, Grapefruit, Cola, Root Beer, and DocPop – and is available in over 7,500 retail doors, including Target, Safeway, Kroger, Publix, Whole Foods, as well as online at Amazon.com.
About Poppi
Poppi is a better-for-you prebiotic soda designed to keep your gut in check. Founded by husband-and-wife duo Stephen and Allison Ellsworth, Poppi combines real fruit juice with prebiotic powerhouse apple cider vinegar to create a soda that tastes amazing and provides real health benefits. After finding regional success in farmers’ markets across Dallas, Texas, the brand has since expanded to thousands of retail locations nationwide. Poppi is available in nine delicious flavors – Watermelon, Strawberry Lemon, Raspberry Rose, Orange, Ginger Lime, Grapefruit, Cola, Root Beer, and DocPop – and is available for $2.49 per 12oz can. Visit www.drinkpoppi.com to learn more.
