LOS ANGELES — The water and tea brand Liquid Death recently closed a $67 million funding round from strategic partners and new investors that valued the company at $1.4 billion. The money will be used for innovation and to continue scaling distribution, according to the company.

In October 2022, the company closed a $70 million Series D funding round that valued the business at $700 million.

“We continue to see extremely strong consumer and retailer demand and are proud to have raised a strategic, oversubscribed, ‘up’ round to fuel our growth,” said Mike Cessario, founder and chief executive officer of Liquid Death. “What began as appealing to inbound interest has culminated in a leading group of strategic investors from finance, entertainment and distribution backgrounds.

“This round, coupled with the appointment of Stephen Ballard, a seasoned sales executive and White Claw alum, will enable us to continue scaling a world-class distribution network to murder thirst and plastic bottles around the globe.”

In 2023, Liquid Death was available in 113,000 retail doors in the United States and United Kingdom and achieved $263 million in retail sales. The company achieved triple-digit growth for the third consecutive year, becoming the fastest-growing top water and top iced tea brand, according to the market researcher SPINS.

Recent innovation from Liquid Death includes flavored carbonated water and iced tea. The company also is moving beyond beverages with the introduction of Death Dust hydration sticks that feature 35 calories, 300 mg of sodium, 200 mg of potassium, 5 essential vitamins and 8 grams of sugar.