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Diving briefs:
- Prebiotic soda brand Olipop is valued at $1.855 billion after raising $50 million in the latest funding round led by JP Morgan Private Capital’s growth equity partner.
- This money is used by Olipop to expand marketing, add flavors and increase availability of spaces traditionally dominated by legacy soda.
- Healthier soda brands like Olipop and competitor Poppi have skyrocketed in popularity as people aim to reduce sugar intake and increase consumption of better products containing functional ingredients. It’s there.
Dive Insights:
Oripop, It’s worth just 200 million dollars In 2022, ratings are skyrocketing as consumers are looking for more of the products they drink.
Olipop is a top single service non-alcoholic beverage manufacturer in the growth of dollars and units. It also cites data from Circana and Spins, the company said. About half of that growth comes from legacy carbonated soft drinks like Pepsi and Coke, while the rest comes from new shoppers, entering the category, and current soda drinkers add Oripop to their cart.
“It’s incredible and thrilling to have achieved a $1.85 billion valuation in just 5-6 years in the market in just 5-6 years is amazing and thrilling,” Olipop co-founder and CEO Ben Goodwin said in a statement. “I added that it’s a testament to innovation breakthroughs and momentum. I demonstrated it as the founder of the modern soda category.”
Olipop made profits in s in 2024The company said the ale doubled to $400 million from the previous year. Goodwin I told Bloomberg The latest funding rounds promote innovation and help brands join more retailers.
Olipop is best known for its refrigerated soda, available in flavors such as cherry vanilla, banana cream, watermelon lime, and vintage cola. The company has recently added shelf stable products to its lineup, adding more retailer space to functional drinks, and was able to attract new consumers. Olipop has reached almost 20% of US households, the company said, offering a great opportunity for growth.
Functional sodas are available at nearly 50,000 grocery stores, including Walmart, Target, Whole Foods, Kroger, Costco and Starbucks.
Olipop places the brand as a healthier alternative to 5 grams of sweetener and less than 50 calories of sugar rading soda. The drink also contains prebiotic fibers derived from Chicory Root, Cassava Root and Jerusalem Artichokes to promote gut health.
The presence of JP Morgan in the latest funding round will help promote the brand among investors and promote its position as a profitable business. Olipop already has a long list of celebrities investors, including Jonas Brothers, Mindy Caring and Gwynes Paltrow, plus former PepsiCo CEO Indranoui.
Goodwin told Bloomberg this would be the company’s final funding round, but he has not determined whether he wants to publicize the company or sell it to a larger entity.
In addition to the latest funding round, Olipop has appointed Mel Landis as the new president.
Landis has over 36 years of experience with business giants such as Coca-Cola and craft, and plays an important role in growing beverage manufacturers. Landis is undoubtedly familiar with consumer trends and consumption habits, especially when it comes to sweet soda drinks.
