Olipop is now officially a billion dollar brand — in fact, closer to $2 billion — after the company closed its Series C funding round with J.P. Morgan that valued the soda company the company at $1.85 billion.
The brand, launched seven years ago, has seen rapid growth and has been profitable for the past year. The latest round closed at $50 million.
Olipop says it is the no. 1 non-alcoholic brand in both dollar and unit growth contribution— outpacing legacy giants like Coca-Cola, Dr Pepper and Red Bull, according to the company. Some 50% of this growth is incremental to legacy carbonated soft drinks, which means that half of Olipop's growth comes from new shoppers and current carbonated soft drink shoppers changing brands.
The company's products are sold in nearly 50,000 stores across the U.S., including Walmart, Target, Wawa, Whole Foods Market, Kroger, Costco and Starbucks.
According to the company, it has also achieved 25% adoption amongst Gen Z consumers.
