Liquid Death secures $67m funding, valuation hits $1.4bn

Liquid Death, a water and tea brand with a viral social media following, has successfully closed a $67 million funding round, bringing the company's valuation to $1.4 billion. This investment aims to drive innovation and expand distribution further.

Transaction snapshot

  • Deal value: $67 million.
  • Deal multiples: 5.3x revenue
  • Deal type: Funding round.
  • Investors: Various, including Live Nation, SuRo Capital and Inception Sciences

In October 2022, Liquid Death achieved a milestone with a $70 million Series D funding round, which at the time, valued the business at $700 million. The brand continues to witness strong consumer and retailer demand with this financing round attracting a diverse group of investors from the finance, entertainment, and distribution sectors.

The addition of Stephen Ballard, an experienced sales executive and former White Claw professional, to the team, is set to enhance the brand's distribution capabilities. In 2023, Liquid Death was available in over 113,000 retail outlets across the United States and the United Kingdom, achieving $263 million in retail sales and marking its third consecutive year of triple-digit growth. This success has established Liquid Death as the fastest-growing brand in the water and iced tea categories.

Recent innovations from the company include the launch of flavored carbonated water, iced tea, and the introduction of Death Dust hydration sticks. These new products have contributed to its growth, alongside a robust social media presence with 7.9 million followers across TikTok and Instagram.

The brand's product development continues, with plans to introduce new flavors for its beverages. Notably, Liquid Death's iced tea has become a top seller on Amazon.com, showcasing the brand's growing market presence.

CEO Mike Cessario shared insights into the brand's inspiration from the beer industry, aiming to offer consumers a fun and engaging alternative in the beverage sector. While discussing future plans, Cessario mentioned the company's focus on profitability and growth, without committing to a specific liquidity event, highlighting the desire for flexibility in strategic decision-making.

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