The Spindrift Beverage Co. announced that venture capital firm Prolog Ventures has led an investment round of over $2 million into Spindrift. The syndicate also included RiverPark Ventures, New Ground Ventures, Warbros Venture Partners and a number of prominent, industry-focused angel investors. Spindrift is the first line of sodas and seltzers made with fresh juice, creating a new segment within the vast carbonated soft drink category. The brand has found a passionate base of both retail and food service customers nationwide, including Whole Foods, Chopt, Boloco, La Boulange and others, thanks to its focus on pure ingredients and fresh crushed fruit.
Said Spindrift founder and CEO, Bill Creelman, "We entered into a long-term strategic relationship with Silverwood Partners to leverage their help in securing a Tier I group of investors that is as excited as we are to accelerate Spindrift's phenomenal growth. Together, we look forward to continue building the fresh beverage category and inspiring people to live fresh."
Ilya Nykin, managing director at Prolog, remarked, "we love the innovation that Spindrift has brought to the carbonated beverage space. Bill Creelman has created a unique brand with strong sell through - we look forward to the partnership."
Michael Burgmaier, managing director at Silverwood Partners, added, "When I met Bill last year, I knew that he had created something special. Everyone knows that Spindrift is a great product, but the go-to-market strategy and near- and long-term possibilities for this brand were so compelling that we figured out a way to partner with the company for the long run."
Spindrift was founded in 2010 by Bill Creelman with the mission of turning whole, fresh ingredients into great tasting soda. Spindrift has doubled each year since inception by focusing on premium food service operators primarily in the Northeast and Northern California.
Silverwood Partners initiated this transaction and acted as the exclusive financial advisor to Spindrift Beverage Co.