Venture Capital News: Athletic Greens Scoops Up $115M
2022-01-25
NEW YORK, NY, Athletic Greens, a foundational nutrition company, today announced $115 million in new funding.
The funding was led by Alpha Wave Ventures to accelerate the meteoric growth of its subscriber base and ascent as a dominant global nutrition brand. Athletic Greens is meeting the functional nutrition and high performance demands of today's market through the world's top-selling foundational nutrition drink, AG1, which combines 9 synergistic products into 1 drink with 75 of the highest quality ingredients, and is poised to reach the millions of consumers who are driving the health and wellness market's exponential growth. This new financing will help Athletic Greens grow the AG1 subscriber base through increased digital and offline distribution, broaden geographic expansion, increase production capabilities, and bolster scientific research and innovation to both continuously improve AG1 and strategically develop and launch new products. Today's investment is at a valuation exceeding $1B dollars.
In addition to Alpha Wave Ventures, today's investment includes participation from new investor Mark Vadon, as well as returning investors SC.Holdings, David Blitzer's family office Bolt Ventures and Dr. Peter Attia. Valued members of the Athletic Greens community spanning the sports, business and media space also participated in this round including Alex Honnold, Chiney Ogwumike, Matt Paradis, Anthony Pompliano, Shane Parrish, Jim Toth, Amy Griffin of G9 Ventures, Joe Holder, Packy McCormick's Not Boring Capital, Jeremy Jauncey, Tanya Sam, Jaime Schmidt, Miki Agrawal, Radha Agrawal, Marcy Simon, Swan Sit, Dan Churchill, Dave Peacock and Harold Hughes. Rick Gerson, Chairman at Alpha Wave Global, and Mark Vadon, founder of Zulily and Blue Nile and former Chairman of Chewy, will join the Athletic Greens Board of Directors.
Athletic Greens is a global health company with a mission to empower people to take ownership of their health through a focus on foundational nutrition. The company sells comprehensive and convenient daily nutrition products that make it easy to get the nutritional insurance our bodies need. The company's flagship product, AG1, is a foundational nutrition drink designed to remove the friction from covering the daily nutritional needs of a modern diet. AG1 combines more than 9 essential nutrition products into 1 convenient and great-tasting drink, giving customers an easy and efficient way to get their daily multivitamin, multimineral, probiotic, prebiotic, functional greens blend, immune support complex and more. Containing a complex blend of 75 vitamins, minerals, and whole food-sourced ingredients, AG1 contains no GMOs, no harmful ingredients, no artificial colors or sweeteners, and is diet-friendly whether you eat keto, paleo, vegan, dairy-free, gluten-free or practice intermittent fasting. AG1 is also NSF-Certified for Sport, a standard sought by many professional athletes and one of the most rigorous certification programs in the supplement industry, and made in a TGA-registered facility.
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