Vive Organic, makers of doctor-crafted, cold-pressed wellness shots, announces today the closing of a $13 million series B funding round led by Monogram Capital with participation by Cambridge SPG and Powerplant Ventures. Vive is one of the leading functional beverage brands in the market today, providing customers with cold-pressed wellness shots that are formulated with a focus on boosting the immune system.
The brand has seen explosive growth since inception in 2015, with an average of 400% growth year over year, and has cemented itself as the leader in this space. This backing from industry veterans further validates the growth opportunity within this category and consumer demand more broadly for immunity-boosting products. Vive will deploy this latest capital raised to expand its digital footprint, foster its innovation pipeline and make its plant-powered products more accessible to consumers nationwide.
The company works with a team of holistic medicine doctors in its formulation with an emphasis on sourcing some of the purest ginger, turmeric, elderberry and other immunity-enhancing ingredients anywhere in the world. Vive leverages cold-pressed technology to extract juice from the roots, herbs and flowers used in their products to provide the freshest product with maximum health benefits. The company’s beverages are organic, non-GMO, gluten free and vegan. Beginning with a focus on the natural channel, Vive has expanded to meet rising demand from customers in 8,000 doors across natural, conventional, mass and drugstore accounts including key banners such as Whole Foods, Sprouts, Safeway, Wegman’s, Target, and CVS.
In February 2020, the brand launched on Amazon and built a direct-to-consumer platform from the ground-up, adding subscription services and extending the brand’s reach to include the entire United States. Over the last several months Vive’s e-commerce sales have increased 52 fold, with production increasing fivefold to allow the brand to keep up with climbing demand at retail. When Taubman set out to raise the series B, his primary objective was to ensure that Vive could continue to supply its loyal customers during this seminal time in which wellness is their top priority. Armed with a strong balance sheet and investor support network, Vive is well-positioned to capitalize on its vision.
“We feel so fortunate to have found such exceptional partners in Monogram, Cambridge SPG, Powerplant Ventures and our roster of investors” said Wyatt Taubman, CEO and Co-Founder of Vive Organics. “We have a powerful product that we believe in deeply, which is quickly becoming the go-to for immunity boosting in lieu of other traditional beverages, powders and supplement solutions. We are very proud of what we’ve created and greatly value the expertise our investors will provide in this next stage of our business as we look to further develop our online offerings and find new, unique ways to connect with consumers at retail.”
Monogram Capital seeks opportunities to partner with founders and strong management teams of high growth brands to help them become the next generation of brand leaders in their respective categories. Current and realized investments include Country Archer Provisions, Chewy.com, Koia, Olipop, 4th & Heart, Kidfresh and more.
“Vive has tapped into an incredible opportunity to provide consumers with sustainably sourced, functional products that promote and support wellness needs, whether that be targeting uses case for enhanced immunity, restoration, or energy,” said Jared Stein, co-founder and partner of Monogram Capital. “We are thrilled to join together with this pioneering brand at this prescient time where consumers have never been more focused on their health and wellness needs and prioritizing their immunity. Led by an outstanding team, Vive is at the forefront of providing these wellness solutions in a convenient, ready-to-drink format that consumers love and we look forward to continue supporting the brand through their new innovations to come.”
Source: Vive Organic