Total amount raised
$304 Millions
Latest funding date
Location
Athletic Brewing has successfully raised significant funding over multiple rounds, achieving a valuation of $800 million. The company specializes in non-alcoholic craft beer, attracting a diverse group of investors including General Atlantic and Alliance Consumer Growth.
Keep reading to explore the intricacies of Athletic Brewing's fundraising journey and the investors backing this innovative company.
What Is Athletic Brewing?
Athletic Brewing, founded in 2017 by Bill Shufelt and John Walker, is based in Milford, Connecticut. The company specializes in non-alcoholic craft beer, offering a healthier alternative for active adults.
With a workforce of 251-500 employees, Athletic Brewing has rapidly grown since its inception. Their commitment to quality and innovation has set them apart in the beverage industry.
For more information, visit their official website or check out their Crunchbase profile.
How Much Funding Has Athletic Brewing Raised?
- Seed Round
- Amount Raised: $500K
- Date: September 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and initial product development.
- Seed Round
- Amount Raised: $3.1M
- Date: December 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand production capacity and market reach.
- Series B
- Amount Raised: $17.5M
- Date: March 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance distribution channels.
- Debt Financing
- Amount Raised: $30M
- Date: February 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operational expenses and future growth plans.
- Series C
- Amount Raised: $50M
- Date: May 2021
- Lead Investors: Alliance Consumer Growth, TRB Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To drive long-term growth, including the purchase of a third U.S. brewing facility and the expansion of its non-alcoholic beer offerings.
- Venture Round
- Amount Raised: $25M
- Date: October 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand production capabilities and market presence.
- Debt Financing
- Amount Raised: $25M
- Date: May 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational costs and future expansion plans.
- Series D
- Amount Raised: $75.5M
- Date: November 2022
- Lead Investors: Keurig Dr Pepper
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product development and expand market reach.
- Venture Round
- Amount Raised: $9.1M
- Date: March 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and operational needs.
- Venture Round
- Amount Raised: $68M
- Date: July 2024
- Lead Investors: General Atlantic
- Valuation at Round: $800M
- Motivation Behind the Round: To further scale operations and enhance market presence.
Total Amount Raised: $303.7M. Current Valuation: $800M.
Key Investors
- General Atlantic
- Details: General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Founded in 1980, the firm has a long history of investing in high-growth sectors.
- Investment Focus Areas: Technology, consumer, financial services, healthcare.
- Notable Investments: Airbnb, Alibaba, ByteDance.
- Alliance Consumer Growth
- Details: Alliance Consumer Growth is a private equity firm that invests in high-growth consumer brands. The firm focuses on partnering with passionate entrepreneurs to help scale their businesses.
- Investment Focus Areas: Food and beverage, personal care, lifestyle.
- Notable Investments: Shake Shack, BarkBox, Harry's.
- Keurig Dr Pepper
- Details: Keurig Dr Pepper is a leading beverage company in North America, offering a wide range of hot and cold beverages. The company was formed through the merger of Keurig Green Mountain and Dr Pepper Snapple Group.
- Investment Focus Areas: Beverages, consumer goods, retail.
- Notable Investments: Keurig, Dr Pepper, Snapple.
- TRB Advisors
- Details: TRB Advisors is a private investment firm that focuses on growth-stage companies. The firm provides both capital and strategic guidance to its portfolio companies.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: Not publicly disclosed.
What's Next for Athletic Brewing?
Athletic Brewing is poised for significant growth, driven by the expansion of its brewing facilities and increasing market share in the non-alcoholic beer category. With the purchase and renovation of a third U.S. brewing facility, the company aims to double its brewing capacity, leveraging General Atlantic's expertise in technology and digital marketing to enhance its global reach.
Future fundraising opportunities are likely as Athletic Brewing continues to innovate and expand. The company may attract more strategic investors to support its ambitious growth plans. However, challenges such as maintaining quality during rapid expansion and navigating competition in the non-alcoholic beverage market could pose hurdles along the way.
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