High Brew Coffee, an Austin-based natural beverage company, announces the closing of $17 million of new growth capital led by BIGR Ventures, a growth equity fund providing value-added, strategic partnership and capital to promising early-stage natural and organic products. Already the No. 1-selling cold-brew in convenience stores, the additional capital will continue to accelerate the brand’s accessibility and penetrating popularity.
Since its 2014 inception, High Brew quickly made its mark on the ready-to-drink market, selling over 1 million cases in 2016. Given that the ready-to-drink coffee market is up 14.6 percent in dollar sales and among the top 10 fastest-growing grocery chain categories last year, High Brew has enjoyed steady momentum in the space. With over 2 million cases expected to be sold in 2017, the new capital paves the path for further expansion through investment in production infrastructure and increasing its capacity to quickly deliver quality products to an eager market.
"Witnessing the growth of High Brew over the past three years has been an amazing ride,” says founder and CEO David Smith. "With the closing of our Series B funding, we will be able to reach even more markets to elevate their coffee experience. As you can imagine, we are excited to write the next chapter in the High Brew story."
“Investing in High Brew is a real privilege for us at BIGR,” said Duane Primozich, cofounder and managing partner at BIGR. "David’s track record of turning a beverage company into a household name, mixed with the company’s dedication to natural ingredients and quality products means we have no doubt that High Brew will be the top ready-to-drink coffee in all channels in the not so distant future."
Bill Weiland, another cofounder and managing partner at BIGR, supports Primozich’s sentiment. "With a lineup of fantastic products that cater to a savvy customer, along with an experienced management team, High Brew is perfectly positioned to conquer an ever-growing industry," he says.
From its humble beginnings, High Brew now has more than 80 employees and is distributed nationally in key retailers such as Target, Whole Foods, Kroger, Safeway, Sprouts and more.
Source: High Brew Coffee