Poppi Raises $25M From CAVU Consumer Partners, Signaling Functional Beverages as Wellness' Next Frontier

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Dec 13, 2022, 09:00 ET

The Disruptive VC Firm Whose Mission is to Democratize Healthy Living is Doubling Down on its Investment in Poppi as the Company Continues to Invest in Presence, Innovation and C-Suite Talent

AUSTIN, Texas, Dec. 13, 2022 /PRNewswire/ -- Poppi, a leading prebiotic soda brand celebrated for its deliciously refreshing flavor profiles and functional/digestive health properties, today announced $25M in new financing led by CAVU Consumer Partners. The funding comes after a year of meteoric growth for Poppi, which began as a farmers' market favorite and is now one of the fastest growing non-alcoholic beverages in the U.S. Over the past year, the brand experienced 148 percent increase in overall revenue and a 250 percent increase in online sales. 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.

"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. "I'm grateful to continue partnering with Rohan and the CAVU Consumer Partners team as we enter our next phase of growth."

Rohan Oza, Co-Founder & Managing Partner of CAVU Consumer Partners, first invested in Poppi when co-founders Allison and Stephen Ellsworth appeared on ABC's Shark Tank in 2018. Today, he sits on Poppi's Board of Directors, as CAVU continues to invest in the brand while offering Allison and Stephen high-level counsel. Additionally, CAVU's internal creative agency, UNCOMMON, has had a meaningful impact on the brand, leading the initial rebrand and award-winning packaging design, and working closely with the Poppi team since launch on their Amazon & eRetail strategy, digital media strategy, 360 brand campaigns and more.

"Poppi is one of the fastest growing beverage brands I've ever been a part of," said Rohan Oza, Co-Founder & Managing Partner at CAVU Consumer Partners. "Seeing what Stephen and Allison have done to date has been incredible and with a seasoned leadership team now in place, we believe Poppi will continue its meteoric growth, cementing their position as THE modern soda of tomorrow."

In its next phase of growth, the company is investing in establishing its C-Suite by bringing together seasoned food and beverage executives. This includes the appointment of Lana Buchanan as Chief Marketing Officer, who previously held VP roles at Anheuser-Busch and Campari. She joins CEO Chris Hall who was hired in May from Talking Rain and ex-Essentia CFO, Chuck Czerkawski.

In addition to establishing a best-in-class executive team, the new funding will enable Poppi to build upon the hypergrowth they've experienced to date by further fueling sales growth, marketing, and innovation through:

Further expanding the brand's omnichannel retail presence with plans to be in over 30,000 retail doors nationwide by the end of 2023. They will also continue to drive volume on eRetail platforms like Amazon and Instacart, where this summer they were the 9th best selling item in Amazon's grocery category and the 4th fastest growing beverage brand on Instacart.
Continued focus on breaking new ground in Digital and TikTok. With the brand's early, breakout success on the platform that includes going viral multiple times, winning BevNet's "campaign of the year" and now having over one billion page views, Poppi will continue to focus efforts on solidifying their position as a category leader in content, community and growth.
Further leaning into their digital first, brand building approach; investing in larger scale media, culturally relevant 360 campaigns, and disruptive partnerships across several verticals.
Doubling-down on product development. Earlier this year, Poppi launched Cherry Limeade, a highly requested flavor amongst Poppi consumers that sold out within one week and quickly became a best-selling flavor on Amazon and Target.

Poppi is a leader in the functional soda category, which according to Research and Markets is expected to reach $173.23 billion in 2025. Poppi combines real fruit, apple cider vinegar, and less than 5 grams of sugar and 25 calories to create a delicious, refreshing prebiotic soda that improves gut health. It comes in 9 different flavors and is available for $29.99/12-pack. For more information, visit www.drinkpoppi.com.

About Poppi

Poppi is on a mission to create a culture of health and happiness by reimagining the soda experience. Founded by husband-and-wife duo Stephen and Allison Ellsworth and based in Austin, TX, Poppi combines real fruit, apple cider vinegar and inulin prebiotics to create a deliciously refreshing, full of flavor soda that provides real health benefits. Formulated with only clean ingredients, each can contains less than 5 grams of sugar and 25 calories. What originally started as a personal remedy for Allison's gut health and skin ailments, quickly became a farmers market favorite turned Shark Tank investment - and now is available at thousands of retailers nationwide. Poppi's brand first approach, cultural cache and rapid growth has nurtured an incredibly loyal fan base, including celeb fans like Hailey Bieber, Kylie Jenner, Billie Eilish, Russell Westbrook, JLo, Olivia Munn and more. Poppi is available in nine delicious flavors – Strawberry Lemon, Raspberry Rose, Orange, Ginger Lime, Watermelon, Cherry Limeade, Classic Cola, Root Beer, and Doc Pop – and is available for $2.49 per 12oz can.

About CAVU Consumer Partners

Founded in 2015 by former hedge fund veteran Brett Thomas and iconic brand builder Rohan Oza, CAVU Consumer Partners is a consumer-focused investment firm seeking to democratize better living for all humans and their families. Using their deep brand building and decades of financial experience, CAVU sources and helps scale the brands of tomorrow, enabling talented, passionate entrepreneurs to achieve their dreams. With offices in New York and Los Angeles, CAVU specializes in better-for-you branded consumer products companies in Food and Beverage, Pet, Beauty & Personal Care, and Human Performance, among others. Brands include Bai, Oatly, Vital Proteins, Beyond Meat, The Farmer's Dog, ONE Brands, Poppi, WhistlePig, Once Upon A Farm, Necessaire, Hims & Hers, OSEA and Topicals. For more information, please visit https://www.cavuconsumer.com.

SOURCE Poppi