VENICE, CALIF. — Vive Organic, maker of cold-pressed wellness shots, has closed a $7 million Series A funding round led by plant-centric food and beverage investment fund Powerplant Ventures. Blueberry Ventures and individual investors, including William D. Moses, co-founder of KeVita, and Christopher Hunter, chief executive officer of Koia, also participated in the round.
Founded in December 2015 by c.e.o. Wyatt J. Taubman, chief operating officer Kyle Withycombe and vice-president of sales J.R. Simich, Vive Organic offers wellness shots. Vive Organic’s portfolio consists of four products: Immunity Boost wellness shot, made with ginger root, turmeric root, echinacea root and flower, and black pepper; Coconut Probiotics kefir shot, featuring probiotics, coconut kefir, prebiotics and coconut water; Wellness Rescue wellness shot, containing oregano oil, elderberry, ginger root and cayenne pepper; and Antioxidant Detox detox shot, made with red algae, pomegranate seed oil, grapeseed oil, blueberries, cranberries and blackberries.
“It’s rare to have the opportunity to build an entirely new category,” said Mark Rampolla, co-founder and partner at Powerplant Ventures. “Vive Organic has that and has assembled an impressive team that will allow them to lead the category. I’ve been a fan of the founders and products for more than two years and am thrilled to work with them more closely now to help them scale.”
Vive Organic launched its first product at independent natural grocers in Los Angeles in April 16. The company then grew its monthly revenue totals by approximately 2,000% in the first year before expanding distribution beyond the city, Vive Organic said. The recent $7 million investment will aid the company in expanding distribution nationally and building its operations, finance and marketing teams.
“The market for plant-powered, functional wellness shots is poised for exponential growth,” Mr. Taubman said. “This investment round allows us to acquire the talent we need to grow our distribution channels and to continue to lead in this exciting new category.”
The investment by Powerplant Ventures marks the fourth funding round for Vive Organic. The company previously closed three rounds of funding, including a friends and family round in December 2015, a seed round in December 2016 and a bridge round in December 2017.
Also founded in 2015, Powerplant Ventures supports “world-changing, plant-centric companies that deliver better nutrition in a more sustainable and ethical way,” the company said. Its investment portfolio includes such brands as Beyond Meat, Thrive Market, Rebbl, Just, Hail Merry and Ripple Foods.