Revive Kombucha Raises USD 7.5 Million in Series B Funding Led by Peet's Coffee
PETALUMA, Calif., Aug. 25, 2017 : Revive Kombucha, an employee and family-owned brewery that creates award-winning, naturally fermented beverages containing live probiotic cultures, has secured a USD 7.5 million Series B round of financing led by Peet's Coffee, The Original Craft Coffee, to scale its team, grow its brewery operations, and expand its national distribution.Revive also announced today the addition to its Board of Directors of Eric Lauterbach, Chairman of Coldcraft and President of Consumer at Peet's Coffee.
"We are delighted to partner with Revive Kombucha, a company that shares a similar handcrafted approach to Peet's Coffee," said Eric Lauterbach. "Our investment reflects our belief in the strength and promise of the Revive brand and our own mission to build an outstanding portfolio with multi-channel reach. In so doing, we will enable Revive to better engage with its customers and accelerate its business."
Through its relationship with Peet's Coffee, Revive Kombucha will be delivered via Coldcraft, the coffee company's own chilled Direct-Store-Delivery (DSD) network, assuring absolute product freshness and superior taste. Coldcraft, the only company-owned chilled distribution network within the coffee industry, which currently distributes Peet's and Stumptown Coffee Roasters bottled cold brew, will expand Revive's market reach throughout California in over 1,600 food service, grocery, and Peet's coffeebar locations.
"Our culturally aligned partnership with Peet's Coffee, a beloved San Francisco heritage brand, will provide Revive Kombucha with a support system to fulfill our goal of reaching the millions of people demanding tasty and healthy beverage offerings," said Sean J. Lovett, Founder and CEO of Revive. "With this investment, we can continue our commitment to innovative individualized brew batches and natural fermentation methods to create unique kombucha beverages that spotlight the true stars of the show, our premium ingredients."
Founded by Sean and Rebekah Lovett in 2010, Revive Kombucha is organic, non-GMO, Fair Trade certified, ethically sourced and raw. The product is distributed across nearly 50 states at retailers like Trader Joe's, Whole Foods, The Fresh Market, Wegmans, and Safeway.
"We are proud of our ability to scale within a startup culture," said Rebekah Lovett, co-founder of Revive. "Our focus has been on building and expanding the brewery while maintaining our in-house production, ingredient-focused approach, and ability to experiment with sustainable initiatives. We are very excited that this new partnership with Peet's Coffee will help us take this very organic operation to the next level."
"Revive is a category innovation leader with a craft brewing style that has produced the best tasting kombucha, all while keeping true to authentic natural fermentation methods," said Seth Rodsky, Co-Founder and Managing Partner of Strand Equity Partners. "This Peet's partnership strengthens Revive's quest to become the brand of choice for all kombucha consumers."
Revive is also supported in this round by Series A lead investor Ilya Nykin, Prolog Ventures; Bentley Hall, CEO, Good Eggs; Wes Crain, Rodeo Ventures; Peter Henig, Greenhouse Capital; Arif Fazal, Blueberry Ventures; Joe Brunetti, formerly of Specialized Bikes; and Blair Kellison, CEO, Traditional Medicinals. Additional new investors include Seth Rodsky of Strand Equity and Larry Kahn of Beechwood Capital. Aspect Consumer Partners acted as exclusive financial advisor to Revive in connection to the transaction.