Boulder-based Rowdy Mermaid Kombucha has raised an additional $3.5 million as the “second and final tranche” of a Series A the company began last year, bringing the round’s total to $7 million.
Both funds were led by KarpReilly, a private investment firm that has also funded companies like Boxycharm, Hungryroot and ICONIC Protein.
Founded in 2013, Rowdy Mermaid claims to be the first kombucha company to provide 100 percent recyclable cans. Its product comes in a variety of flavors, all of them centered around the health benefits of botanicals, roots and mushrooms.
For example, its “Living Ginger” kombucha is brewed with Chaga mushrooms, Tasmanian pepperberries and ginger to relieve stress and support the adrenal system, while “Lion’s Root” is made with Lion’s Mane mushrooms and turmeric to support brain function and provide antioxidants with the “tropical reprieve” of pineapple. When the company’s new “Watermelon Bloom” kombucha is released next month, its total flavor count will stand at eight.
Rowdy Mermaid’s products are available in 45 states and Washington, D.C. With this latest round of funding, the company says it plans to expand its retail presence, introduce a direct-to-consumer e-commerce platform and invest in its sales and marketing teams.
“The past year has been an exciting time for all of us at Rowdy Mermaid as we further expand our national footprint and bring new flavors and functions to our product line,” CEO and founder Jamba Dunn said in a statement. “As we continue to dream up new ways to introduce functional beverages to as many people as possible, partners like KarpReilly help us achieve our goal of plant-based medicine from Rowdy in every fridge.”
So far, Rowdy Mermaid says it has experienced double- or triple-digit annual growth and expects to do the same in 2020.
