STAMFORD, Conn., Sept. 23, 2021 /PRNewswire-PRWeb/ -- Owl's Brew, a leader in tea-based spiked and sparkling beverages, today announced that the company has secured $9 million in a Series A funding round.
Owl's Brew is a female-founded company led by tea experts Jennie Ripps and Maria Littlefield. Their product line, Boozy Tea, is a Hard Tea Seltzer that is refreshing and refreshingly made, crafted with only real ingredients and with a commitment to no arti-ficial flavors, no natural flavors, no animal byproducts, no parabens, and no sulfites. The company intends to use the funds primarily to expand product distribution, invest in marketing initiatives, and grow the team.
The round was organized by Formidable Asset Management. Other investors include Cambridge SPG; Connecticut Innovations, Connecticut's strategic venture capital arm; Tidal River, Connecticut's women's investor network; TV personality, activist, and Owl's Brew Chief Brand Officer, Jeannie Mai; Brent Montgomery's entertainment and investment enterprise, Wheelhouse; Director Sam Taylor-Johnson; Keleigh Teller; and others.
"In the last year, we have been able to grow the business exponentially," said Jennie Ripps, Co-Founder and CEO of Owl's Brew. "We are thrilled to announce this Series A. The capital will allow us to expand our reach and deliver an excellent and refreshing product to our customers nationwide."
Founders Jennie Ripps and Maria Littlefield had worked in the tea business for almost a decade before unveiling their line of Boozy Teas in 2020. Owl's Brew became the first hard tea seltzer on the market, beating all the industry's major players. The company has experienced 918% growth since its launch, recently expanded from 10 to 18 markets across the U.S., and secured national mandates from several large retailers.
"Only 4% of sales teams, brewmasters, and executive positions in this industry are made up of women and that percentage is even smaller when you are talking about female-led businesses. We could not be prouder to take Owl's Brew and our Wise Women Collective, which supports local and national women's initiative and charities, to the next level," said Maria Littlefield, Co-Founder and COO of Owl's Brew.
The Wise Women Collective by Owl's Brew is a program created by women for wom-en. It supports community-building programs and education, and promotes conversa-tion and celebration.
Owl's Brew is available in major retailers nationwide including Trader Joe's, Whole Foods, Publix, Total Wine, HEB, Sprouts, GoPuff, and more.
For more information, visit http://www.theowlsbrew.com.
About Owl's Brew:
Co-founded by tea experts Jennie Ripps and Maria Littlefield, Owl's Brew is on a mis-sion to make the most refreshing, and refreshingly made, boozy beverages in the world. Committed to crafting a clean alcoholic beverage with only real ingredients like fresh-brewed organic tea, fruit and botanicals, Owl's Brew products are never made with artificial flavors, natural flavors, animal byproducts, parabens, sodium citrate or sulfites. Everyone deserves to "drink wise", and know what they are putting into their body. The Owl's Brew Boozy Tea lineup consists of six refreshing styles including Matcha & Pineapple, English Breakfast Tea and Lemon, Darjeeling & Hibiscus Flow-ers, White Tea and Watermelon, Jasmine & Blueberry as well as the latest seasonal style, Spiced Chai & Cranberry. Drinkers can enjoy Owl's Brew by shopping direct from the Website, or find 6-packs in 18 states across the country in major retailers like Whole Foods, Trader Joe's, Total Wine, Publix, GoPuff, and more. For more infor-mation, visit http://www.theowlsbrew.com or follow along on Instagram @theowlsbrew.
Media Contact
Jennifer Buonantony, Owl's Brew, 323.496.1976, [email protected]
SOURCE Owl's Brew
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