Total amount raised
$52.3 Millions
Latest funding date
10/1/2022
Location
Poppi has successfully raised significant funding over multiple rounds, culminating in its acquisition by PepsiCo for $2 billion. The company specializes in flavored sparkling probiotic drinks, attracting a diverse group of investors.
Keep reading to explore the intricacies of Poppi's fundraising journey and the investors backing this innovative beverage brand.
What Is Poppi?
Poppi, founded in December 2015 by Allison and Stephen Ellsworth, is based in Austin, Texas. The company specializes in producing flavored sparkling probiotic drinks, offering a healthier alternative to traditional sodas.
With a workforce of 251-500 employees, Poppi has made significant strides in the beverage industry. Their products are available through their online store and major retailers like Walmart and Target.
Poppi's mission is to promote gut health through their innovative drinks, which are low in sugar and vegan-friendly. The company's rapid growth and acquisition by PepsiCo underscore its success and potential in the market.
How Much Funding Has Poppi Raised?
- Series A
- Amount Raised: $13.5M
- Date: August 2021
- Lead Investors: CAVU Consumer Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand distribution, scale the internal team, and invest in major marketing opportunities.
- Venture Round
- Amount Raised: $13.8M
- Date: July 2021
- Lead Investors: CAVU Consumer Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support product development and market expansion.
- Series B
- Amount Raised: $25M
- Date: October 2022
- Lead Investors: CAVU Consumer Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance production capabilities.
Total amount raised: $52.3M. Current valuation: Not publicly disclosed.
Key Investors
- CAVU Consumer Partners
- Details: CAVU Consumer Partners is a venture capital firm that focuses on investing in high-growth consumer brands. They have been instrumental in Poppi's growth, leading multiple funding rounds.
- Investment Focus Areas: Health and wellness, food and beverage, beauty, personal care.
- Notable Investments: Beyond Meat, Vital Proteins, Kite Hill.
- Russell Westbrook
- Details: Russell Westbrook is a professional basketball player known for his dynamic playing style. He has diversified his portfolio by investing in various business ventures.
- Investment Focus Areas: Tech, consumer products, health and wellness.
- Notable Investments: Varo Bank, Health House.
- The Chainsmokers
- Details: The Chainsmokers are an American DJ and production duo who have ventured into the investment world. They focus on tech startups and consumer brands.
- Investment Focus Areas: Tech startups, consumer brands, entertainment.
- Notable Investments: Ember, Liquid I.V.
- Kygo
- Details: Kygo is a Norwegian DJ and music producer who has expanded his interests into the investment sector. He focuses on music and tech-related ventures.
- Investment Focus Areas: Music, tech, entertainment.
- Notable Investments: Palm Tree Crew, various music tech startups.
- Halsey
- Details: Halsey is an American singer and songwriter who has also made a name for herself in the investment world. She invests in a variety of sectors including music and fashion.
- Investment Focus Areas: Music, fashion, consumer products.
- Notable Investments: About-Face (beauty brand).
What's Next for Poppi?
Poppi's future looks promising with significant opportunities for growth. The company plans to expand its distribution network, scale its internal team, and invest in major marketing initiatives. These steps are crucial as the health beverage market continues to grow, driven by consumer demand for healthier alternatives.
Given the successful $13.5 million funding round led by CAVU Consumer Partners, future fundraising opportunities seem likely. High-profile investors' involvement suggests that additional rounds could support further expansion and innovation. However, Poppi may face challenges such as intense competition and maintaining product quality as they scale. Effective management of their expanded operations will be key to sustaining growth.
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