Liquid Death secures $67m investment to fuel growth
Print4 April 2024
Liquid Death, the healthy beverage platform, has closed $67 million (€61 million) in financing from strategic partners and new investors.
Since its launch in 2019, the brand’s unique marketing approach sees them take the healthiest thing you can drink and package it into infinitely recyclable, skull-branded tallboy cans that compete with the fun marketing of brands across energy drinks, beer, and junk food. In its mission to ‘bring death to plastic,’ a portion of Liquid Death’s proceeds goes to nonprofits helping fight plastic pollution and bringing clean drinking water to those in need.
Liquid Death hit $263 million (€242 million) in retail scanned sales through registers in 2023 and expanded to 113,000 retail doors across the US, UK, Australia and Ireland.
In Ireland, Liquid Death is now available in Centra, Supervalu, Daybreak and Mace stores nationwide, with further roll out across supermarket and forecourt retailers soon to be announced.
The $1.4 billion (€1.2 billion) valuation is a strong increase over prior funding rounds.
Distributor investors include the No. 1 distributors in key markets in the US, as well as new institutional investors, including SuRo Capital, alongside follow-on investors Live Nation, Science, Inc., and Gray’s Creek Capital Partners. Other prominent investors in the round include actor Josh Brolin, NFL All-Pro and entrepreneur DeAndre Hopkins, The Chapelle Show co-creator Neal Brennan, Brazil’s largest metal band Sepultura’s Derrick Green, and Australian comedian Jim Jefferies.
Funding
The funding will go toward product innovation as a multi-category beverage platform and scaling operations, the needs for which have been accelerated by higher than anticipated retailer demand for Liquid Death’s new flavoured sparkling water flavours and iced tea flavours slated to launch in the US this spring with roll out to other markets to follow.
Liquid Death’s social following captures 7.9 million followers across TikTok and Instagram, making it the third most-followed beverage globally, behind only Red Bull and Monster.
Mike Cessario, founder, Liquid Death, said: “Liquid Death has become the fastest growing and leading brand across the water, flavoured sparkling water, and iced tea categories. We continue to see extremely strong consumer and retailer demand and are proud to have raised a strategic, oversubscribed, ‘up’ round to fuel our growth.
“What began as appealing to inbound interest has culminated in a leading group of strategic investors from finance, entertainment and distribution backgrounds. This round, coupled with the appointment of Stephen Ballard, a seasoned sales executive and White Claw alum, will enable us to continue scaling a world-class distribution network to murder thirst and plastic bottles around the globe.”
Fans 0
Followers