USA – Flow Alkaline Spring Water, one of the fastest-growing water brands in North America across all packaged water categories, has completed its Series D capital raise, securing US$45 million in funding.
Investors in this financing round include: Shawn Mendes, an ongoing partner and sustainability ambassador to Flow, and his manager Andrew Gertler, both leading the round with Post Malone and his manager Austin Rosen.
Coldplay’s longtime manager Dave Holmes, former professional baseball star Chase Utley, and former Uber director of engineering, Curtis Chambers as well as Ruttenberg Gordon Investments also participated in the funding round.
The investment will provide Flow with long-term capital and support for continued growth, sustainability efforts and innovation as it establishes the brand as the next generation’s premium water of choice.
The news was confirmed by Flow Alkaline Spring Water founder and CEO, Nicholas Reichenbach.
“Flow shares this news with an attitude of gratitude,” says Reichenbach. “The financial markets have never been more dynamic and our investors’ commitment to Flow at this time is a testament to the brand’s strength and potential.”
The packaged water market is evolving, and Flow is one of the companies leading the evolution in regards to consumer taste preference and environmental impact.
Flow aims to sell over 100 million packs in 2020, expecting to double its current consumer base of 10 million consumers to 20 million.
The company expects to enter 2021 with an outlook of owning 10% percent market share of the country’s 189 million premium water buyers.
“Flow in 2020 is focused on core asset growth within the US, and job creation within our organization and for our partners in distribution and retail.”
“We’ve brought together a mix of personalities from the worlds of technology, sports, and entertainment – three elements of the connectivity that builds an iconic brand,” says Reichenbach.
“The investors will take a minority stake in Flow, a B-Corp certified company, with representatives appointed to Flow’s Board of Advisors.”
Starting in May, the brand is introducing Flow Collagen Infused Water, a new innovation the brand is touting as the best tasting collagen water available.
Flow source its alkaline mineral water from proprietary natural artesian spring water sources in Seawright Springs, Virginia, and Ontario, Canada.
All Flow waters are packaged in Tetra-Pak, produced from renewable wood fiber and an increasingly viable alternative to plastic containers.
In 2020, Flow has also set an ambitious sustainability goal to transition to Tetra-Pak’s new packaging composed of about 75% renewable material.
“As beverage shoppers rediscover the refreshment and taste of natural spring water like Flow, they are choosing our brand in-stores and online because of Flow’s commitment to authentic taste, pristine sourcing, and the functionality of water with higher pH levels,” says Reichenbach.
Flow was founded in 2015 by serial entrepreneur Nicholas Reichenbach and has emerged as one of the fastest growing premium water brands in North America, offering naturally alkaline spring water in a range of flavors.
According to the company, The Flow water brand is filled with naturally occurring electrolytes, essential minerals, and an alkaline pH of around 8.1 and is currently available at over 20,000 retailers across the United States, Canada, and Europe.