Last week KeVita Inc., the first sparkling probiotic drink of its kind and one of the fastest growing brands in the functional juice category, closed on a Series B financing round led by KarpReilly Investments LLC. Investment bank Silverwood Partners acted as the exclusive financial advisor to KeVita in the transaction. "As experienced investors in the consumer space, we look for fast-growing brands with outstanding differentiated products," said Allan Karp of KarpReilly. "KeVIta is a low-calorie, great-tasting, refreshing functional beverage; we are excited to partner with the company and provide the capital to finance the company's rapid growth."
"We are carefully planning our expansion and this investment will allow the company to continue its strong growth and bring KeVita to even more retailers and consumers. We are pleased to partner with KarpReilly on this journey," said KeVita CEO and Cofounder Bill Moses. Michael Burgmaier, managing director of Silverwood Partners added, "As experts in the healthy living category, we see a lot of companies and have broad access to the leading institutional investors in the sector. When we looked at KeVita, we liked the differentiation and positioning and knew KeVita was a great investment opportunity. The brand continues to have extraordinary performance with a very dedicated and growing consumer base across the country."
KeVita, the first sparkling probiotic drink of its kind, is leading a fast-growing trend of coconut and cultured drinks with its eight delicious varieties: Coconut, Mango Coconut, Strawberry Acai Coconut, Pomegranate Coconut, Lemon Ginger, Pomegranate and the lightly caffeinated Living Greens and Pomegranate Black Tea. KeVita is made in the company's certified organic facility in southern California and at the heart of KeVita is its handcrafted probiotic culture.