Prebiotic soda brand Olipop announces a $50 million Series C funding round, valuing the company at $1.85 billion. Olipop highlights its position as the top non-alcoholic beverage brand in the U.S. and plans to utilize the funding for expansion and marketing.
Olipop , a prebiotic soda brand, announced it secured $50 million in a Series C funding round, propelling its valuation to $1.85 billion. The company claims to be the leading non-alcoholic beverage brand in the U.S., based on both dollar sales and unit growth, citing data from Circana/SPINS. This latest funding will be instrumental in expanding Olipop 's product range, amplifying its marketing efforts, and widening its distribution network.
Founded in 2018, Olipop has significantly contributed to the burgeoning prebiotic soda market alongside its competitor, Poppi. The Series C funding was spearheaded by J.P. Morgan Private Capital's Growth Equity Partners. Olipop's success stems from attracting both traditional soda drinkers and newcomers to the carbonated beverage category, with a notable quarter of Gen Z consumers choosing Olipop as their preferred drink. The company achieved profitability in early 2024, with annual sales exceeding $400 million last year, marking a doubling from the previous year. Olipop's CEO, Ben Goodwin, emphasizes the company's commitment to innovation and growth. Meanwhile, rival Poppi, established a decade ago, has raised $39.3 million in funding as of 2023, with its valuation remaining undisclosed. Poppi's annual sales reportedly surpassed $100 million in 2023. The brand has also garnered attention through its Super Bowl advertising campaigns for the past two years. However, Poppi has faced scrutiny regarding its health claims, currently engaging in talks to settle a lawsuit alleging that its drinks are not as healthy as advertised.
Olipop Funding Prebiotic Soda Valuation Poppi Non-Alcoholic Beverages Marketing Expansion
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