Poppi, a prebiotic-sodium brand, has closed $13.5million in a Series B2 round. It is now on a mission, to be the leader in functional soda by providing a healthier product that tastes great and is better for you.
CAVU Ventures is part of the investor group, as are sports and entertainment celebrities such as Russell Westbrook, 24kGoldn and Kygo, Halsey and Kevin Love.
After Allison Ellsworth developed stomach problems two years earlier, Stephen Ellsworth and Allison Ellsworth became husband-and-wife cofounders. After visiting numerous doctors without being able to get a definitive diagnosis, she decided to look online for answers. Not only did she discover that immunity is 80% of what we have in our bodies, but she also discovered that food could help heal her body.
Apple cider vinegar was one of the foods that helped her stomach problems. However, it became hard for her to drink the vinegar every day. She decided to make a drink that she could tolerate and was tasty enough for her to drink every day.
The result was a drink that became a huge hit at a Dallas farmers' market. This is also where they were approached by Whole Foods Market to sell Poppi. The pair decided to quit their jobs to make Poppi full-time. Rohan Oza, co-founder of CAVU Ventures, offered them a deal on Shark Tank in December 2018.
Poppi contains approximately one tablespoon each of sparkling water, apple cider vinegar, and real fruit sweeteners. This formula provides a balanced amount of gut-friendly prebiotics that aid in digestion, immunity, and glowing skin.
The cans cost $2.49 and come in nine flavours, including watermelon, strawberry, raspberry, rose, and orange. You can find them in more than 7,500 retail stores, including Target and Safeway, Kroger. Publix, Whole Foods, Whole Foods, Amazon.com, and Publix.
The Ellsworths claim that Poppi has made a difference in their lives.
Allison Ellsworth stated that the goal is to produce a product that tastes great and is healthy. It is not our intention to create a niche product in health that is irrelevant to the work we do. However, it is a plus that we can get that.
The Ellsworths also boast that their annual growth has landed Poppi at the No. 1 spot in the functional soda category. This is a bonus. Based on four weeks of SPINS data ending June 13, 2021, the Ellsworths occupy the No. 1 spot.
The company was previously bootstrapped before the round. The proceeds will be used for expansion of distribution, scaling Poppis' 50-member team and marketing. Although the company is currently based in Dallas, Allison Ellsworth stated that they are moving their headquarters to Austin.
Stephen Ellsworth stated that the company saw a 550% increase in revenue year-over-year and that the funding helps to give Poppi a burnrate of 12 months and allows it to continue in high growth mode.
Stevie Clements is the chief brand architect at CAVU Ventures. She is also a member on the Poppis board. Stevie stated via email that her firm was motivated by the company's founders, product and current growth.
Poppi is also a product that people want to do more for. Gut health, in particular, is an important category. She said that the company's ability to deliver true function with amazing flavor is unmatched by any other on the market.
Clements said that soda is a huge category that is ready for disruption. Stephen and Allison are a great group with an authentic story that has really resonated with people. Poppi's achievements so far have been a great success. We believe that Poppi can create a healthier soda that is both delicious and has real functionality.
