OAKLAND, CALIFORNIA — In an exciting turn of events, Olipop, the innovative soda brand dedicated to providing healthier drink alternatives, has wrapped up a Series C funding round, securing $50 million and hitting an impressive valuation of $1.85 billion.
This notable accomplishment was led by J.P. Morgan Private Capital’s Growth Equity Partners, underscoring the brand’s promising future in the current market landscape.
CEO’s Enthusiasm and Market Momentum
Ben Goodwin, the dynamic CEO and co-founder of Olipop, shared his enthusiasm about the recognition the brand is receiving within the soda industry.
He proudly highlighted the company’s growing momentum and its commitment to innovative solutions.
This achievement marks a significant advancement for Olipop, which saw its value stand at just $200 million in 2022 after raising $30 million in a Series B round.
Such swift progress is a testament to the company’s wide appeal and impact.
Strategic Growth and Leadership Changes
As they continue to grow, Olipop is focused on expanding its product lineup, enhancing marketing efforts, and increasing distribution channels.
Plans are in place to broaden their retail presence and introduce exciting new flavors, all while staying true to their unique recipe that features botanical ingredients, plant fibers, and prebiotics—a blend aimed at providing a healthier soft drink.
In a strategic move, Melvin Landis has stepped in as the new president.
With experience as a strategic advisor for both Olipop and Swoon, Landis is well-equipped for his new role.
He previously held the position of chief customer officer at Bodyarmor and spent more than eight years at The Coca-Cola Company, where he took on several significant roles, including senior vice president of business transformation.
Additionally, co-founder David Lester will transition from day-to-day operations to a strategic advisory role on the board of directors, ensuring his expertise continues to shape the company’s trajectory.
Acknowledgment from Industry Leaders
Christopher Dawe, managing partner at J.P. Morgan Growth Equity Partners, applauded Olipop’s rapid growth within the beverage sector.
He acknowledged that the company is redefining industry standards by providing a premium, health-oriented alternative that truly resonates with today’s health-conscious consumers.
This latest fundraising achievement not only marks financial growth for Olipop but also reaffirms its mission to create beverages that inspire and cater to the modern wellness-focused lifestyle.
Source: Foodbusinessnews