Poppi has raised a total of $52.3 million over multiple funding rounds, culminating in its acquisition by PepsiCo for $2 billion. The Austin-based company specializes in flavored sparkling probiotic drinks, offering healthier, low-sugar, vegan-friendly alternatives to traditional sodas.
Keep reading to explore Poppi’s funding journey, key investors, and what’s next for this innovative beverage brand
What Is Poppi and What Does It Do?
Founded in December 2015 by Allison and Stephen Ellsworth in Austin, Texas, Poppi produces flavored sparkling probiotic drinks designed to promote gut health. Its products are available through the company’s online store and major retailers, including Walmart and Target.
With a workforce of 251–500 employees, Poppi has quickly grown into a leading player in the health beverage sector. Its mission focuses on delivering innovative, low-sugar, vegan-friendly drinks that combine taste and wellness benefits. The company’s rapid growth and acquisition by PepsiCo highlight its strong market potential.
How Much Funding Has Poppi Raised?
- Venture Round
- Amount Raised: $13.8M
- Date: July 2021
- Lead Investors: CAVU Consumer Partners
- Motivation: Support product development and market expansion
- Series A
- Amount Raised: $13.5M
- Date: August 2021
- Lead Investors: CAVU Consumer Partners
- Motivation: Expand distribution, scale the team, and invest in major marketing opportunities
- Series B
- Amount Raised: $25M
- Date: October 2022
- Lead Investors: CAVU Consumer Partners
- Motivation: Accelerate growth and enhance production capabilities
Total Funding Raised: $52.3M
Latest Funding Date: October 2022
Key Investors
- CAVU Consumer Partners
- Details: Venture capital firm investing in high-growth consumer brands.
- Focus Areas: Health and wellness, food & beverage, beauty, and personal care.
- Notable Investments: Beyond Meat, Vital Proteins, Kite Hill
- Russell Westbrook
- Details: Professional basketball player investing in tech, consumer products, and health/wellness.
- Notable Investments: Varo Bank, Health House
- The Chainsmokers
- Details: American DJ duo investing in tech startups and consumer brands.
- Notable Investments: Ember, Liquid I.V.
- Kygo
- Details: Norwegian DJ and music producer investing in music and tech ventures.
- Notable Investments: Palm Tree Crew, various music tech startups
- Halsey
- Details: American singer-songwriter investing in music, fashion, and consumer products.
- Notable Investments: About-Face (beauty brand)
Where Is Poppi’s Headquarters?
Poppi is headquartered in Austin, Texas, providing access to a growing talent pool and a dynamic consumer market. Its location supports partnerships with retailers and innovation in beverage development.
What’s Next for Poppi?
Poppi’s future growth focuses on expanding its distribution network, scaling its internal team, and investing in major marketing initiatives. The company is well-positioned to capitalize on the growing demand for healthier beverages, driven by consumer trends toward wellness and a preference for low-sugar alternatives.
With continued support from CAVU Consumer Partners and high-profile celebrity investors, Poppi may pursue additional funding or strategic partnerships to accelerate innovation and market penetration. Challenges include maintaining product quality at scale and navigating the competitive landscape in the health beverage market.
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