Spindrift Sparkling Water Closes $20 Million In Series B-2 Funding Led By VMG Partners

First and Only Sparkling Water Made with Only Real Squeezed Fruit to Scale National Marketing Support, Build New Infrastructure

News provided by

Spindrift

Mar 15, 2018, 05:12 ET

NEWTON, Mass., March 15, 2018 /PRNewswire/ -- Spindrift, the first sparkling water flavored with only real fruit, announces the closing of $20 million in Series B-2 funding led by VMG Partners, a private equity firm that specializes in investing in and building branded consumer product companies. Additional investors in the round include Prolog Ventures, KarpReilly, RiverPark Ventures, and other existing investors. This new capital will aid in launching Spindrift's first national advertising campaign to educate consumers about the real ingredient difference.

"We are thrilled, and humbled, by the ongoing support toward Spindrift's mission to provide a real alternative to the sparkling water category," says Founder & CEO Bill Creelman. "Our brand has been successful in getting consumers to rally behind our values of authenticity and simplicity, while expanding across major retailers like Whole Foods, Starbucks and Kroger. This new capital now allows us to continue to support our current business partners, increase awareness of our real difference through larger marketing initiatives, and support the addition of new infrastructure to support Spindrift's growing footprint."

Driven by consumer demand for brands that offer simple ingredients and a focus on transparency, Spindrift has been able to grow steadily in the emerging sparkling water space. Spindrift has experienced 1000% revenue growth over the past 36 months and was named to Inc. Magazine's list of fastest-growing companies in 2017. In 2018, Spindrift expects to triple distribution to more than 25,000 doors and reach a milestone of 5 million cases shipped.

"We're excited by the opportunity to continue our partnership with Spindrift," said Robin Tsai of VMG. "They are among the brands that are disrupting the food and beverage category by providing a product that truly stands out because of their commitment to quality, traceable ingredients."

"Sparkling water is a category that's existed for some time, but what's most exciting is to play a role in ushering the new era of healthy bubbles without the use of artificial sweeteners or natural additives (flavors)," added Ilya Nykin of Prolog. "Spindrift is refreshingly real."

Creelman started Spindrift in 2010 as a solution to kick his soda addiction, and to build something he felt comfortable giving to his young kids. The decision to use real fruit originated from growing up on a farm in Western Mass. where his groceries were sourced primarily from local farms. Today, Spindrift is the first brand to produce sparkling water free of artificial and natural flavors, carefully curating a product that brings the real taste on the label to life within each sip.

Spindrift is available at various grocery retailers and café-style restaurants nationwide, including Trader Joe's, Whole Foods Market, Starbucks, Panera, Kroger, Target, and online at Amazon.com and www.shop.spindriftfresh.com.

For more information about Spindrift, please visit www.spindriftfresh.com.

About Spindrift:

Spindrift is the first sparkling water made with real, fresh ingredients and triple-filtered sparkling water – yup, that's it. Founded in 2010, Spindrift celebrates simplicity, transparency and the superior taste that only real ingredients can deliver. All products are free from added sweeteners or natural flavors, made with fruit that is picked from family farms and then squeezed within a few days from harvest. The result is light, bright, and flavor-rich sparkling water. Flavors include Half & Half, Strawberry, Orange-Mango, Grapefruit, Blackberry, Cucumber, Lemon, and Raspberry-Lime. Spindrift is available at various grocery retailers and café-style restaurants nationwide, including Trader Joe's, Whole Foods Market, Starbucks, Panera, Kroger, Target, and online at Amazon.com and www.shop.spindriftfresh.com. Spindrift was ranked #385 on Inc. Magazine's 2017 list of fastest-growing companies. The company also donates 1% of total net sales from natural retailers to not-for-profits through their membership to 1% For The Planet. The company was founded in 2010 and is headquartered in Newton, MA.

For more information, visit www.spindriftfresh.com.

About VMG:

VMG Partners invests in emerging, revolutionary brands that address the evolving demands of a passionate consumer base. VMG brings a unique set of value-add resources and capital to early stage and established consumer brands in its core categories of food, beverage, beauty, pet products, and wellness. Representative past and present partner companies include babyganics®, Daily Harvest, Drunk Elephant, Justin's, KIND Healthy Snacks, Lantana Foods, Natural Balance, Nature's Bakery, Perfect Bar, Pirate's Booty, Pretzel Crisps®, Quest, Spindrift, Stone Brewing, Sun Bum, and Vega.

For more information about the fund, please visit www.vmgpartners.com.

SOURCE Spindrift