Beverage Industry logo
search
cart
facebook twitter linkedin youtube
  • Sign In
  • Create Account
  • Sign Out
  • My Account
Beverage Industry logo
  • NEWS
    • R&D News
    • Supplier News
  • PRODUCTS
    • New Products
    • Reader's Choice Poll
  • CATEGORIES
    • Alternative Drinks
    • Beer
    • Bottled Water
    • Cannabis Beverages
    • Carbonated Soft Drinks
    • Energy Drinks & Shots
    • Juice & Juice Drinks
    • Plant-Based Beverages
    • Sports Drinks
    • Tea and Coffee
    • Wine & Spirits
  • R&D
    • Beverage R&D Features
    • Ingredient Spotlight
  • PACKAGING
    • New Packages
    • Packaging Equipment
    • Packaging Material
  • OPERATIONS
    • Distribution
    • Plant Focus
  • TOP LISTS
    • Beer Market Report
    • Executive of the Year
    • State of the Beverage Industry
    • Top 100 Beverage Companies
    • Truck Report
    • Wholesaler of the Year
  • MEDIA
    • eBook
    • Podcast
    • Polls
    • Videos
    • Webinars
  • DIRECTORIES
    • Annual Manual
    • Contract Packaging Guide
    • Take a Tour
  • MORE
    • Classifieds
    • Channel Strategies
    • eNewsletters
    • Events
      • Membrane Technology Forum
    • Interactive Product Spotlights
    • Market Insights
    • Sponsor Insights
    • Store
    • White Papers
  • EMAG
    • eMagazine
    • Archived Issues
    • Advertise
  • SIGN UP!
Beverage NewsSports Drinks

G.O.A.T. Fuel closes on $5M seed round to accelerate growth trajectory

Notable investors include Eddie DeBartolo, Marc Lore, and co-founder Jerry Rice

GOATFuel_Investment.png

(Image courtesy of G.O.A.T Fuel)

May 30, 2023

Los Angeles-based G.O.A.T. Fuel, the health-forward energy drink from Pro Football Hall of Famer and renowned NFL G.O.A.T. Jerry Rice, announced closing on its initial Series Seed round of financing, which was oversubscribed and raised $5 million, putting total funds raised since launching in 2020 during the pandemic at $12 million. 

The Series Seed financing round was led in conjunction by Stage 1 Fund and Morrison Seger Venture Capital Partners, with past investors in the company including former owner of the San Francisco 49ers, Eddie DeBartolo Jr., serial entrepreneur and owner of the Minnesota Timberwolves, Marc Lore, and co-founder Jerry Rice.

“I’m very selective about what I put into my body and love inspiring others who share the same values and beliefs to live a healthier lifestyle by choosing health-forward products like G.O.A.T. Fuel,” Rice said in a statement. “We are excited about the future of G.O.A.T. Fuel, and securing this financing is a testament to the community's support of our product. We can’t wait to bring G.O.A.T. Fuel to the world and motivate others to become the greatest of all time.”

Jaqui Rice Gold, CEO and co-founder of G.O.A.T. Fuel added: “We’re grateful to have secured our first-ever institutional round of funding in a space that is becoming increasingly more competitive and despite growing market challenges. Our success in this round is another indication that conviction is building around our brand and demand is accelerating. Our new investors and the accompanying capital infusion helps us add fuel to the fire. I also want to extend a big thank you to Stage 1 Fund and Morrison Seger for helping to guide us through this process as we continue to establish G.O.A.T. Fuel as a serious contender in the sports energy drink space.”

The new capital will help to accelerate the growth of the company, allowing it to amplify marketing efforts as it continues to secure additional distribution in new markets across the country, unveil new flavors, and builds consumer awareness and sentiment in an overall effort to capture a significant segment of the sports energy drink market, the company says.

”Stage 1 Fund is pleased to announce our investment in G.O.A.T. Fuel, a differentiated and emerging brand within the sports energy silo that has demonstrated explosive growth over the past two years. The G.O.A.T. Fuel Team and brand are well positioned to capture market share within the highly competitive and massive U.S. energy drink market which is projected to be $30 Billion by 2027,” said David Bartholomew, board director and managing partner at Stage 1 Fund, in a statement. “It has been a pleasure to work with the founding team of Jaqui, T.J. and of course the G.O.A.T. himself, NFL Legend and Hall of Famer Jerry Rice. Along with our co-investors and advisory board, we are focused on our continued support of the brand as we anticipate accelerated growth across new territories.”

Rogers Healy, founder and CEO of Morrison Seger Venture Capital Partners, added: “We at Morrison Seger Venture Capital Partners believe in being the greatest version of you, every single day, which is why being a part of the G.O.A.T Fuel raise was a no-brainer. A company led by great founders, with the goal of bringing people greatness, is a rare combo in the world of investing. We believe in the G.O.A.T. Fuel mission and are thrilled to be included on the ground level.”


KEYWORDS: functional beverages functional ingredients investment sports drinks

Share This Story

Looking for a reprint of this article?
From high-res PDFs to custom plaques, order your copy today!

Recommended Content

JOIN TODAY
to unlock your recommendations.

Already have an account? Sign In

  • top 100 beverage companies

    Top 100 Beverage Companies of 2024

    For the global beverage market, mergers and acquisitions...
    Wine & Spirits
  • Chocolate, Strawberry, Vanilla shakes

    Classic flavors provide reliable, consistent results for beverage-makers

    Classic flavors of chocolate, vanilla and strawberry...
    Ingredient Spotlight
    By: Chloe Alverson
  • Free Spirits Instant Bar Bundle

    Lifestyle trends drive growth for non-alcohol category

    As lifestyle trends continue to drive growth for the...
    Wine & Spirits
    By: Lauren Sabetta
Manage My Account
  • eNewsletters
  • Online Registration
  • Subscription Customer Service
  • eMagazine Subscription
  • Manage My Preferences

More Videos

Sponsored Content

Sponsored Content is a special paid section where industry companies provide high quality, objective, non-commercial content around topics of interest to the Beverage Industry audience. All Sponsored Content is supplied by the advertising company and any opinions expressed in this article are those of the author and not necessarily reflect the views of Beverage Industry or its parent company, BNP Media. Interested in participating in our Sponsored Content section? Contact your local rep!

close
  • Fourpeople toasting with cocktails made with low-sugar ingredients, celebrating healthier drink options.
    Sponsored byCargill

    What’s Hot in Sugar Reduction: Beverages

  • chocolate milk
    Sponsored byCargill

    Sweetening the Future for Dairy and Dairy-Alternative Beverages

  • woman pouring a drink
    Sponsored byFFP

    Building a Beverage System: Meeting Consumer Demand for Precision Wellness

Popular Stories

Sting Energy

PepsiCo, Sting Energy unveil global partnership with Formula 1

PepsiCo + poppi

PepsiCo completes acquisition of poppi

people drinking Wynk

Mindful drinking prompts growth for THC beverages

Top 100 Beverage Companies of 2024

Events

April 16, 2025

2025 State of the Industry Series: Alcoholic Beverages

On Demand In Beverage Industry’s annual State of the Industry: The Alcohol Beverage Market, analysts at S&D Insights LLC delve into these trends and how they’re shaping the industry.

June 26, 2025

FAST. FOCUSED. FUELED: Delivering Energy Consumers Can Feel

Learn how to formulate products that deliver the energy experiences that people want, and keep them coming back for more.

View All Submit An Event

Poll

Retail Coffee Segment

What retail coffee segments will fare well into the next year?
View Results Poll Archive

Products

Milk and Dairy Foods Nutrition, Processing and Healthy Aging

Milk and Dairy Foods Nutrition, Processing and Healthy Aging

See More Products

Related Articles

  • Beverage News graphic

    Mixers show growth on-premise, report finds

    See More
  • Koia

    Koia announces $7.5M funding for brand expansion

    See More
  • Starbucks cup

    Starbucks announces new leadership structure to spur growth

    See More

Related Products

See More Products
  • bigfood.jpg

    Big Food: Critical perspectives on the global growth of the food and beverage industry

  • nanoinbev.jpg

    Nanoengineering in the Beverage Industry 1st Edition

  • nonmilk.jpg

    Milk-Based Beverages 1st Edition

See More Products
×

Elevate your expertise in the beverage marketplace with unparalleled insights and connections.

Join thousands of beverage professionals today. Shouldn’t you know what they know?

JOIN NOW!
  • RESOURCES
    • Advertise
    • Contact Us
    • Directories
    • Store
    • Want More
  • SIGN UP TODAY
    • Create Account
    • eMagazine
    • eNewsletter
    • Customer Service
    • Manage Preferences
  • SERVICES
    • Marketing Services
    • Reprints
    • Market Research
    • List Rental
    • Survey/Respondent Access
  • STAY CONNECTED
    • LinkedIn
    • Facebook
    • YouTube
    • X (Twitter)
  • PRIVACY
    • PRIVACY POLICY
    • TERMS & CONDITIONS
    • DO NOT SELL MY PERSONAL INFORMATION
    • PRIVACY REQUEST
    • ACCESSIBILITY

Copyright ©2025. All Rights Reserved BNP Media.

Design, CMS, Hosting & Web Development :: ePublishing