VENICE, CA, Vive Organic, maker of cold-pressed wellness shots, closed a $7-million Series A funding round led by plant-centric food and beverage investment fund Powerplant Ventures.
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Blueberry Ventures and individual investors including Bill Moses (Co-Founder of KeVita), Chris Hunter (CEO of Koia) and others also participated in the round. The brand, known for delivering the first function-focused and only doctor-crafted wellness shots on the market, has generated overwhelming interest since its launch and previously closed three successful rounds of funding, including a friends and family round in December 2015, a seed round in December 2016, and a bridge round in December 2017.
This investment will allow Vive Organic to continue its rapid growth and expand distribution nationally in both natural and conventional grocery stores and other retailers. The company, which recently added SVP of Sales Blair Cornish, VP of Business Development West Joia Pardo-Matthews and VP of Business Development East Sherri Sparaga, also plans to use the funds to further build world-class operations, finance and marketing teams.
"The market for plant-powered, functional wellness shots is poised for exponential growth," said Wyatt Taubman, CEO & Co-Founder, Vive Organic. "This investment round allows us to acquire the talent we need to grow our distribution channels and to continue to lead in this exciting new category."
Vive Organic was founded in December 2015 by CEO Wyatt Taubman, COO Kyle Withycombe and VP of Sales JR Simich, health-conscious entrepreneurs who first met while attending the University of San Diego. The brand was inspired by Taubman's personal experience with a ginger and turmeric shot from a local vendor, helping him overcome a cold while on a business trip. The trio recognized there was quickly growing consumer awareness and interest in wellness shots with no clear market leader in the category and saw an opportunity to be the first. After launching their first product at independent natural grocers in Los Angeles in April 2016, Vive Organic grew its monthly revenue totals by approximately 2,000 percent in the first year, before expanding distribution beyond the city. The brand continued to grow at a brisk pace in 2017 and 2018 before reaching a threshold to attract institutional investors for a successful Series A funding round.
"It's rare to have the opportunity to build an entirely new category. Vive Organic has that and has assembled an impressive team that will allow them to lead the category" said Mark Rampolla, co-founder and partner at Powerplant Ventures. "I've been a fan of the founders and products for more than two years and am thrilled to work with them more closely now to help them scale."
For more information on Vive Organic, please visit www.vive-organic.com.
About Vive Organic
Vive Organic is the leader in cold pressed and plant-powered 2oz ready-to-drink wellness shots made from organic and non-GMO super-herbs. With the first function-focused shots on the market and the only ones formulated by a team of doctors, the Venice, California-based brand currently produces four functional formulations including Immunity Boost, Coconut Probiotics, Wellness Rescue and Antioxidant Detox. Expertly crafted to harness the power of natural ingredients and cold pressed to preserve their freshness and potency, each ingredient is carefully selected to meet specific health-forward functions, with concentrated nutrition, to maximize the shots' wellness benefits. For more information on Vive Organic, please visit www.vive-organic.com.
About Powerplant Ventures
Founded in 2015, Powerplant Ventures is a venture fund that supports world-changing, plant-centric companies that deliver better nutrition in more sustainable and ethical ways. With deep networks and operating experience in plant-based innovation, natural foods distribution and venture investing, Powerplant Ventures is equipped with the unique ability to identify, attract and advance a portfolio of emerging companies across the intersection of food and technology. The fund looks beyond the bottom line to work with companies that are focused on impacting the global food system with transparency and sustainability. For more information about Powerplant Ventures, please visit www.powerplantvc.com.