Austin, TX — Waterloo Sparkling Water has closed a $4M convertible, pre-series B round of financing to bolster its explosive first year growth, and set the stage for a wave of new authorizations in Spring & Summer 2018. Waterloo will be available in more stores this quarter as many of the largest retailers in the US have seen the early success of the brand and listened to consumer demand. Following a successful launch in the fall of 2017, Waterloo continues to see sales velocity accelerating at a pace which has led retail partners to increase on-hand supply, and in some cases to quickly authorize a wider assortment of flavors.
“I am proud of the interest in our brand from the latest capital raise. These funds will be used to drive our points of distribution and to support promotions at the retail level that will extend into the summer with some of the largest retailers in the world,” said CEO Jason Shiver.
CAVU Ventures led the round once again with the full support of its team of General Partners Clayton Christopher, Rohan Oza & Brett Thomas as well as several other strategic investors.
“We are very fortunate to have such strong investment partners who believe in our unique approach to disrupt the exploding sparkling water category. We are grateful and humbled by the interest in our brand by so many industry-leading investors and this injection of capital will ensure that we continue to build out our national distribution strategy,” says co-founder Sean Cusack.
This new funding round, which will help maintain the brand growth, comes on the heels of the recent announcement that Waterloo will now be produced in BPA-free cans and with ingredient certifications from Non-GMO Project Verified, Certified Gluten Free and many others.
“Now more than ever consumers want to know what’s in the products they consume. We strive to honor that and provide certifications to back up our commitment to quality. It may cost us more to do what we do, but there is no better way to do business as we see it. And we think consumers will respond in a big way,” said Co-Founder and CMO Brandon Cason.
About Waterloo
Austin-based Waterloo Sparkling Water is a BOLD take on the growing sparkling water genre, making its mark by focusing on true-to-fruit flavor & aroma and delivering a much richer, more authentic taste. Waterloo comes in 7 flavors including Original, Black Cherry, Watermelon, Coconut, Lemon, Lime & Grapefruit and is available nationwide. Currently offered in traditional 12-ounce cans, Waterloo is sold in 12-can and 8-can fridge-pack cases. The product first became available in September 2017 and has already landed distribution in many national retailers. Waterloo was featured on People Magazine’s 2018 Awesome List.