Hydration powder mix brand Liquid IV has closed a $5 million Series B funding round as it aims to boost distribution and product innovation.
The funding included investment from CircleUp Growth Partners, TQ Ventures, music producer Kygo, and Washington Nationals baseball player Adam Eaton.
California-based Liquid IV is best known for its Hydration Multiplier, an electrolyte drink mix. The brand claims that adding one serving of the Hydration Multiplier to 16 oz of water “can provide the same hydration as drinking two to three bottles [of] water”.
“This has been a big year for Liquid IV, reaching number one on the Amazon sports drink best sellers list, launching the passion fruit flavour for our Hydration Multiplier line, innovating a new Sleep product that will be added to our collection later this year, growing our team, and now closing this Series B with some of the greatest partners around,” said Brandin Cohen, Liquid IV CEO and founder.
“One of the best parts of this growth is that we’re able to help even more people around the world as part of our giveback mission to defeat global dehydration. This year alone we’ll donate over 300,000 servings of Hydration Multiplier to those in serious need in the most undernourished regions of the world.”
Kiva Dickinson, partner at CircleUp Growth Partners, said: “The company’s growth in the past year alone is enough to catch your eye.”
He added: “As we’ve worked more closely with Brandin and the leadership team over the course of this year, we were impressed by their drive to bring a high-quality product backed by powerful science to battle hydration for everyday consumers. We are thrilled to partner with Liquid IV on their next chapter.”
Kygo said: “I started using Liquid IV on tour and can’t get enough of it. I couldn’t be more excited to partner with this brand and bring healthy hydration to the masses while also giving back to those who need it most.”
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