Investment will buildout executive team, omnichannel growth
Prebiotic soda brand Poppi, Austin, Texas, announced $25 million in new financing led by CAVU Consumer Partners. The funding comes after a year of meteoric growth for Poppi, in which the brand experienced 148% increase in overall revenue and a 250% increase in online sales, it says. The company also nearly doubled its retail presence (now in more than 20,000 doors nationwide) and became a Top 10 selling item in the grocery category on Amazon during its Prime Early Access Event, it says.
“I would have never imagined that what started as a homemade remedy for my chronic health conditions would go from the farmers market to ‘Shark Tank,’ and now, to some of the biggest retailers nationwide. The growth we’ve experienced these past two years is a testament to the demand for functional products that taste good and do our bodies good,” said Allison Ellsworth, co-founder of Poppi, in a statement. “I’m grateful to continue partnering with Rohan and the CAVU Consumer Partners team as we enter our next phase of growth.”