Bulletproof Secures More Than $19M in Series B
SEATTLE, WA, Makers of Bulletproof Coffee and other performance-enhancing food and beverage products, has raised more than $19 million in Series B funding led by CAVU Venture Partners.
Bulletproof 360, makers of Bulletproof Coffee and other performance-enhancing food and beverage products, announced today that it raised more than $19 million in Series B funding led by CAVU Venture Partners, the high-profile consumer-focused investment firm led by Rohan Oza, Clayton Christopher and Brett Thomas. Trinity Ventures, an original Series A investor for the brand and an early Starbucks and Jamba Juice investor, also participated in the round. The injection of funding follows an initial $9 million round in 2015, and will support the brand's high growth trajectory both in e-commerce and at retail locations.
"For too long, consumers were satisfied with cheap food that tasted good, without much regard for what it was actually made of," said company founder and Chief Executive Officer (CEO) Dave Asprey. "Now, people are waking up to the idea that food is meant to fuel us, and that what matters most is how your food makes you feel. We raised this round of funding from CAVU Ventures, one of the world's most innovative investors in the consumer space, to continue leading the way in the performance nutrition revolution. This injection of capital will ensure that people get faster, easier access to the world's highest performing coffee and food."
CAVU Venture Partners has a strong track record of building successful consumer brands, as well as a high-profile reputation in the food and beverage category. Its founders are known in the industry for success stories including vitaminwater, smartwater and Deep Eddy Vodka. Most recently, the firm saw return on its investment in Bai Brands through its acquisition by Dr. Pepper Snapple Group (DPS) for $1.7 billion in late 2016.
"Dave Asprey is a visionary and creative disruptor, and we've long admired his commitment to bringing high quality food, beverage and supplement products to consumers via the Bulletproof platform," said Rohan Oza, Partner at CAVU. "We feel Bulletproof has created a whole new category around products that fuel human performance. We're excited to partner with Dave and the Bulletproof team to continue the company's growth momentum."
The funding round comes on the heels of the hiring of Anna Collins as Chief Operating Officer earlier this year. Collins, who joined Bulletproof from Amazon, is responsible for the company's growth strategy and operations, driving multi-channel growth for the company's portfolio of products, including the signature Bulletproof Coffee, Brain Octane oil, FATwater, Collagen Bars, Collagen Protein and more.
"Since inception, Bulletproof's performance-based approach has had an enormous impact on the health and wellness industry," said Dan Scholnick, General Partner at Trinity Ventures. "Similarly, CAVU and Rohan have consistently championed products that disrupt the beverage segment with more nutritious and 'better for you' alternatives. Bulletproof is all of that and more - so this partnership is not only natural, but also quite powerful. We're excited to see this latest investment propel the brand and the company to new heights."
In addition to two existing Bulletproof Cafes in Southern California, the brand has plans for a 2017 retail expansion to New York City and other locations yet to be announced. Asprey's newest book, titled HEAD STRONG, was released on April 4 and is the second Bulletproof book to reach the New York Times bestseller list. The Series B funding supports the brand's momentum from the first quarter of the year and will aid in its brick and mortar expansion, as well as planned product launches and other innovative developments.
Asprey founded Bulletproof in 2013 after spending two decades and more than $1 million to hack his own biology. As the world's first human performance and nutrition company to focus on making the state of high performance a daily reality for everyone, Bulletproof continues to provide a range of solutions for consumers to improve their bodies and minds.
Founded by biohacker, bestselling author, and Bulletproof coffee creator Dave Asprey, Bulletproof 360 is dedicated to providing the world with groundbreaking, science-based information, techniques, tools and products to help people perform better, increase focus, enhance energy, and live longer. Resources include #1 ranked radio show and podcast Bulletproof Radio, the New York Times bestselling books THE BULLETPROOF DIET and HEAD STRONG, documentary feature film MOLDY, The Bulletproof Executive blog, and more. Twitter: @bpnutrition Instagram: @bulletproofcoffee https://www.bulletproof.com/
About CAVU Venture Partners
CAVU Venture Partners invests in high growth, iconic consumer brands, primarily better-for-you food and beverage companies. Founded by CPG Veterans Rohan Oza, Clayton Christopher, and Brett Thomas, CAVU looks to partner with passionate entrepreneurs with big visions. CAVU helps bring those dreams to fruition through know-how and deep industry contacts. For more information, please visit http://www.cavuventures.com/.
About Trinity Ventures
Trinity Ventures is a top-tier venture capital firm combining business insight, practical expertise and a personal touch to help start-ups win big. For over thirty years, Trinity has helped passionate entrepreneurs with breakthrough ideas transform markets and lives. Trinity's investment team takes a collaborative approach and believes in personal engagement, mutual respect and goal alignment to deliver out-sized returns to entrepreneurs and investors. The firm invests in early stage technology companies with emphases on Cloud and Mobile infrastructure, Software-as-a-Service, Digital Media and Social Commerce and Entertainment. To learn more visit: www.trinityventures.com.
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