LOS ANGELES — Oxigen, a line of pH balanced water infused with oxygen, closed a $15 million Series B funding round led by a roster of celebrity and business leader investors. Funds will be used to further scale national distribution and drive brand awareness through increased marketing, the company said.
Oxigen’s functional water features electrolytes and oxygen for enhanced hydration and recovery. The beverage comes in bottles made from 100% recycled plastic.
The company has grown 300% to 400% since launching six years ago, said Anthony Pritzker, chairman and chief executive officer of Pritzker Private Capital and an investor in the brand.
“As a young company, to have such a strong management team in place overseeing sales, marketing, logistics and manufacturing is unheard of in the beverage space,” Mr. Pritzker said. “The fact that we control our manufacturing across the country and can meet the demands now, and well into the future for Oxigen, all while delivering on quality, margin and scalability, puts Oxigen in a position to capture significant market share.”
Recording artist Bret Eldredge, Cleveland Cavaliers player Kevin Love and Golden State Warriors player Stephen Curry joined Mr. Pritzker in backing the Los-Angeles-based startup. Mr. Curry in August announced he will be a partner and new face of the brand.
Bryan Ezralow, CEO of The Ezralow Companies, also participated in the funding round, along with Jonathan Glaser, principal of JMG Capital; Michael Meldman, co-founder of Casamigos Tequila and CEO of Discovery Land Co.; Victor Coleman, chairman and CEO of Hudson Pacific Properties; Neal Moritz, producer of the “Fast & Furious” film franchise; Daniel Yergin, global energy expert; and Richard A. Gephardt, former majority leader and minority leader in the US House of Representatives.
“We feel so fortunate to have the support of such exceptional investors, people who are at the very top of their fields,” said Blair Bentham, founder and CEO of Oxigen. “We have a powerful product with tremendous growth potential.”