Immunity-Boosting Vive Organic Wellness Shot Maker Closes $13-Million Series B Funding Round
Vive Organic, makers of cold-pressed wellness shots, announced the closing of a $13-million Series B funding round this week. Wellness shots have been on an upward trajectory over the last few years and this latest investment is another signal that wellness shots—despite the sometimes hefty price tag—have true staying power. As the saying goes though, “good things come in small packages,” rings true for wellness shots like Vive.
Their 2 oz. cold-pressed infused juices are packed with good-for-you ingredients like turmeric, ginger and other vitamins and minerals. Wellness shot companies tout the benefits of their metabolism supporting, energy-enhancing, and immunity-boosting—something of increasing interest in the pandemic era new-normal and a key factor that attracted investors.
Perhaps another appeal for investors and consumers alike has been the very public support Vive has received from celeb heavyweights like Hilary Duff and Wiz Khalifa who have organically touted the product.
While Vive has seen explosive growth since inception in 2015, averaging 400% growth year-over-year and emerging as a leader in the space, there are other wellness shots equally as tasty and potent vying for market share: Malibu-based KOR Shots; Kombucha-leader GT Living’s Kefir Probiotic Shots; and San Diego-based Suja Functional Shots to name a few. Vive though has managed to meet rising demand—maybe even help create it—and is now in 8,000 key retailers like Whole Foods, Sprouts, Safeway, Wegman’s, Target, and CVS. In February 2020, the brand also launched on Amazon and built a direct-to-consumer platform while also adding a subscription service. Over the last several months Vive’s e-commerce sales have increased by 52 times.
The funding round was led by Monogram Capital with participation by Cambridge SPG and PowerPlant Ventures. If PowerPlant Ventures sounds familiar it's because they are exclusively focused on investing in plant-based, vegan-friendly companies and have backed mainstay players like Beyond Meat and Veggie Grill. They’ve also invested in lesser-known but growing high-potential companies like The Collaborative, a seriously delicious coconut-based yogurt and dessert line. The company has placed some smart bets and we can thank them for helping bring plant-based winners to the masses.
“We feel so fortunate to have found such exceptional partners in Monogram, Cambridge SPG, PowerPlant Ventures and our roster of investors,” Wyatt Taubman, CEO and Co-Founder of Vive Organics said in a company announcement this week. “We have a powerful product that we believe in deeply, which is quickly becoming the go-to for immunity-boosting in lieu of other traditional beverages, powders and supplement solutions. We are very proud of what we’ve created and greatly value the expertise our investors will provide in this next stage of our business as we look to further develop our online offerings and find new, unique ways to connect with consumers at retail.”
Vive Organic was founded in 2015 by Taubman along with COO Kyle Withycombe and VP of Sales JR Simich, health-conscious friends and entrepreneurs. The brand was inspired by Taubman's personal experience taking a ginger and turmeric shot from a local farmers market to help him overcome a cold during a business trip. The trio recognized there was rising consumer interest in wellness shots and saw an opportunity to develop a brand designed to support and motivate people to proactively boost their immune system.
The company says it works with a team of holistic medicine doctors in its formulation and goes to great lengths to identify the very best ingredients globally, with an emphasis on sourcing some of the purest ginger, turmeric, elderberry and other immunity-enhancing ingredients anywhere in the world. Vive leverages cold-pressed technology to extract juice from the roots, herbs and flowers used in their products to provide the freshest product with maximum health benefits. The company’s beverages are organic, non-GMO, gluten-free and vegan.