Bulletproof secures $40m in funding led by Cavu Ventures

Bulletproof 360, the US brand behind Bulletproof cold brew coffee, has completed a Series C funding round, raising more than $40 million in equity, led by Cavu Venture Partners.

Other participants in the round included Trinity Ventures, an early Starbucks and Jamba Juice investor, and Silicon Valley Bank.

Anna Collins, Bulletproof COO, has been promoted to president, leading growth strategy, operations and multi-channel expansion of the brand. Meanwhile, Jeff Hull, a senior leader from Amazon Prime, has joined Bulletproof as vice president of strategy and analytics.

The Series C funding follows a $19 million Series B round announced in May 2017, also led by Cavu, and a $9 million Series A, led by Trinity, bringing the total investment to $68 million. Bulletproof said the new capital will fuel its growth plans.

Last year, Bulletproof introduced its cold brew range, which it said represented its largest ever product launch.

Bulletproof founder and CEO Dave Asprey said: “This round of funding is to expand Bulletproof’s better-for-you products to help people gain long-lasting energy, eliminate cravings and boost cognitive performance. I am grateful to deepen Bulletproof’s partnership with the pioneering investors at Cavu, Trinity Ventures and Silicon Valley Bank.

“As the Bulletproof mission advances, I’m delighted to welcome Jeff, an innovative leader who learned how to delight customers and scale businesses exponentially through his years at Amazon.”

Rohan Oza, founding partner of Cavu Ventures, said: “We’re always looking for disruptive products that fundamentally change the way people eat, drink and feel.

“Bulletproof is a master brand pioneering science-based food and beverages that taste great and are the ultimate power fuel for the mind and body. Led by the success of their ready-to-drink coffees, collagen protein bars and Bulletproof Cafes, we believe they’re poised to be the millennial Starbucks.”

Trinity Ventures general partner Dan Scholnick added: “Bulletproof is delivering on its mission to create products and share information that radically improves lives. That’s not just my opinion as an investor; it’s also my opinion as a human being who has personally experienced the energy and health benefits of the Bulletproof lifestyle.

“The all-star team leading the company is absolutely crushing it across their market segments. We’ve supported them from the very beginning and to fuel this next chapter of their growth through one of the largest investments in Trinity Ventures’ 30-year history thrills us.”

Cavu Ventures has backed food and beverage brands such as Bai, Health-Ade and One Bar. Earlier this year it led a funding round in US creator of coconut milk-based herb drinks Rebbl.