G.O.A.T. Fuel® Announces Close of $5 Million Seed Round to Accelerate Growth Trajectory

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May 25, 2023, 09:00 ET

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

DALLAS, May 25, 2023 /PRNewswire/ -- 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, today announced they have successfully closed on their 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. The new capital will help to accelerate the tremendous growth of the company, allowing it to amplify marketing efforts as it continues to secure additional distribution in new markets across the country, unveils innovative new flavors, and builds consumer awareness and sentiment in an overall effort to capture a significant segment of the sports energy drink market.

G.O.A.T. Fuel Co-Founders Jerry Rice, Jaqui Rice Gold, and Trevion Gold (left to right)

G.O.A.T. Fuel is quickly becoming the go-to energy drink for those looking for healthier, great-tasting energy, and is available online and at approximately 10,000 retail locations across the country including Publix, Target, Walmart and HEB. Renowned for its cordyceps mushrooms—the first energy drink to tap into the powerhouse adaptogen— G.O.A.T. Fuel delivers sustained energy and is also powered by natural caffeine, green tea, BCAAs and 10 essential vitamins to improve recovery, making it the ideal beverage for anyone chasing greatness. It is also the Official Energy Drink of the Los Angeles Lakers - yet another indication of the beverage company's fast-growing popularity amongst athletes and non-athletes alike.

"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," said Jaqui Rice Gold, CEO and Co-Founder of G.O.A.T. Fuel. "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."

"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," added Jerry Rice, NFL HOF WR and Co-Founder of G.O.A.T. Fuel. "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."

"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 2 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," remarked David Bartholomew, Board Director & Managing Partner, Stage 1 Fund. "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 & Hall of Famer Jerry Rice. Along with our Co-Investors & Advisory Board, we are focused on our continued support of the brand as we anticipate accelerated growth across new territories."

"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," added Rogers Healy, Founder and CEO of Morrison Seger Venture Capital Partners. "A company lead 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."

For more information and to find out where G.O.A.T. Fuel can be purchased visit www.goatfuel.com.

About G.O.A.T. Fuel
G.O.A.T. Fuel ® ("greatest of all time") was created by NFL Hall of Famer Jerry Rice, his daughter Jaqui Rice Gold and Trevion Gold. It is a lifestyle brand focused on bringing health-forward products and a G.O.A.T. mindset to consumers. We believe the term G.O.A.T. shouldn't be reserved just for athletes, but anyone striving to be great. Our energy drink has a proprietary blend of cordyceps mushrooms, 200 mg of natural caffeine, green tea with EGCG, ginger, amino acids and 10 essential vitamins. Visit www.goatfuel.com.

SOURCE G.O.A.T. Fuel