BOULDER, Colo., May 27, 2020 /PRNewswire/ -- Rowdy Mermaid Kombucha, a beverage company producing crisp and refreshing, function-forward kombucha, today announced that it has completed its second and final tranche of its Series A investment, raising an additional $3.5 million, bringing total gross proceeds to $7 million. The company projects triple-digit sales growth in 2020, as the beverage manufacturer expands into new markets.
The investment was again led by KarpReilly, a Greenwich-based private investment firm with a portfolio of emerging brands in the consumer sector, with notable food, beverage and natural products including: Spindrift, LIFEAID, KeVita, Koia, and ICONIC Protein.
"Year after year, we continue to see innovative products, initiatives and solutions from our friends at Rowdy Mermaid," said Allan Karp, co-founder of KarpReilly. "Rowdy's function-forward flavors, approachable brand, and unwavering passion for product integrity are the key points of difference in an otherwise crowded category."
The completed Series A will continue to support national retail expansion and the introduction of an e-commerce platform, with a considerable increase in investment into sales and marketing, in addition to research and development of additional product lines.
"The past year has been an exciting time for all of us at Rowdy Mermaid as we further expand our national footprint and bring new flavors and functions to our product line," said Jamba Dunn, Founder and CEO of Rowdy Mermaid Kombucha. "As we continue to dream up new ways to introduce functional beverages to as many people as possible, partners like KarpReilly help us achieve our goal of plant-based medicine from Rowdy in every fridge."
With headquarters in Boulder, Colorado, Rowdy Mermaid Kombucha has cultivated a loyal fan base, and has experienced double or triple digit growth every year since being founded in 2013. They are the first kombucha company to fully transition to 100% recyclable cans as part of a commitment to cleaner supply chains and more sustainable packaging.
The company's newest flavor, Watermelon Bloom, will be available on supermarket shelves, including Sprouts Farmers Market and Natural Grocers, in individual 12-ounce cans beginning in June 2020. To keep up with the mermaids or show love for your favorite brew, follow us on Instagram at RowdyMermaidKombucha.
ABOUT ROWDY MERMAID KOMBUCHA Rowdy Mermaid Kombucha combs the planet in search of inspired and powerful ingredients, creating flavors centered around the healthful benefits of functional botanicals, roots and mushrooms. Paying homage to kombucha tradition by crafting with creativity and passion, we rely on science to ensure our brews are always verifiably low in sugar and alcohol. Proudly headquartered in Boulder, Colorado, our products are currently available across 45 states and DC, including partners Whole Foods, Natural Grocers, King Soopers and The Fresh Market. For more information on where to buy our kombucha, please visit rowdymermaid.com or follow on Facebook, Instagram and Twitter.