Tuesday February 19, 2019 0 comments
BOULDER -- Rowdy Mermaid Kombucha, a Boulder-based beverage company, announced it completed its Series A funding with proceeds totaling $3.5 million.
Since its origin in 2013, Rowdy Mermaid Kombucha has become the second-fastest-selling, locally-brewed kombucha in the Rocky Mountain region, experiencing year-over-year growth of more than 100 percent.
Made by reinventing the wheel on a 2000-year-old process, Rowdy Mermaid Kombucha said it offers a low-sugar, plant-infused, functional kombucha that isn’t sour or overly sweet.
Each sustainable brew is made with ethically-sourced, regenerative organics and undergoes in-house DNA testing to ensure safety and consistency, the company said.
The funding round was led by KarpReilly, a Greenwich-based private investment firm with a portfolio of emerging brands in the consumer sector including Spindrift, LIFEAID Beverage Co., KeVita, Zola Coconut Water, and ICONIC Protein.
Other investors include consumer packaged goods heavyweights Justin Gold (founder of Justin's) and Brendan Synnott (co-founder of Bear Naked, EVOL Foods).
“We love Rowdy Mermaid Kombucha because its function-forward and science-based approach to kombucha stands out in a fast-growing industry,” said Allan Karp, co-founder of KarpReilly.
"We are confident in the tremendous amount of momentum Jamba and his team have received over the past several years in the Rocky Mountain region and we believe the organic harmony between our teams will compel a thoughtful growth strategy moving forward."
The Series A round will accelerate growth initiatives by including broader western sales expansion in conventional and on-the-go channels, a new package and design, and research and development of environmentally friendly cans and multi-packs, the company said.
“This financing allows the Rowdy Mermaid team the opportunity to grow our company and our product line with integrity,” said Jamba Dunn, founder and CEO of Rowdy Mermaid Kombucha.
“We believe functional health extends to the environment we live in as well as ourselves. Which is why a big initiative for 2019 will be a switch to clean supply chains and sustainable packaging to increase our presence and offerings while being mindful of environmental concerns - curbing production waste, extending shelf life and increasing the functionality of the product.”
Rowdy Mermaid Kombucha said its brewing philosophy is based on the pure, sustainable and seasonal ideal of new Nordic cuisine: brewing according to the natural seasonality of fresh ingredients, crafting scalable small batches and supporting a seasonal tap program.
Rowdy Mermaid said it supports wind energy and bottles in renewable glass packaging.
With the recent addition of 26 Gelson's Markets locations in SoCal, Rowdy Mermaid Kombucha’s products are now in bottles and on tap throughout the Rocky Mountain Region, Colorado, Idaho, Kansas, Missouri, South Dakota, Montana, Idaho, New Mexico, Utah, Arizona, Texas, Nevada, Wyoming, and California at more than 500 retail stores including partners Whole Foods, Natural Grocers and King Soopers.
Rowdy Mermaid Kombucha said it will present its products at both Natural Products Expo West (March 5-9) in Anaheim, CA and KombuchaKon (April 18-19) in Long Beach, CA, with a new, nootropic, function-forward brew to be announced soon.