USA – Flow Alkaline Spring Water, a leading premium water brand with a deep focus on sustainable practices, has secured an additional investment from Virgo Investment Group, following a US$45 million Series D round earlier this year.
This new injection of growth capital from California-based Virgo will be used to expand Flow’s distribution channels, fund new product lines and accelerate the company’s growth.
Flow has previously attracted backers from across the worlds of technology, sports and entertainment, including musicians Shawn Mendes and Post Malone.
“As our first investment from an institutional fund, we were attracted to Virgo’s focus on creativity and building community, and how people interact through positivity — all in harmony with the ethos of the Flow brand,” said Flow founder and CEO, Nicholas Reichenbach.
“When you build a business based on something as simple and pure as water, which has been reinvented by many brands but is utterly indispensable as a household staple, you want partners like Virgo.”Nicholas Reichenbach – founder and CEO, Flow
“When you build a business based on something as simple and pure as water, which has been reinvented by many brands but is utterly indispensable as a household staple, you want partners like Virgo, that share the vision that great companies are built on not only better-for-you products, but products that are better for the planet.”
With this latest investment, Virgo’s managing partner Scott Guthrie will join the Flow brand’s advisory group.
“We are thrilled to be working with Nicholas and his world class management team as we build out our newly formed wellness investment vertical that seeks partnerships with companies, like Flow, that are disrupting the wellness space with innovative new products and services” said Guthrie.
“Virgo is a dynamic addition to Flow’s already amazing investor group,” says Nicholas Reichenbach, Flow founder and CEO. “As our first investment from an institutional fund, we were attracted to Virgo’s focus on creativity and building community, and how people interact through positivity — all in harmony with the ethos of the Flow brand.”
Founded in 2015, the Canadian company sells alkaline mineral water, in a range of flavours, packaged in Tetra Pak paper cartons made from 75% renewable resources. The brand’s products are on sale across the US, Canada and Europe.
Flow is B-Corp Certified, a private certification by non-profit B Lab, said to recognise firms which ‘balance profit and purpose’ and create benefits for all stakeholders – not just shareholders.
In 2018, Flow introduced a CBD-infused water called Flow Glow, and earlier this year the brand added a collagen-infused line to its range.
In just four years, Flow has become North America’s fastest growing premium water with distribution channels throughout Canada and the United States and is sold in over 25,000 stores including Whole Foods Market, Sprouts, Walmart, CVS Pharmacy, Safeway, Bristol Farms and other retailers.
The brand sells its alkaline spring waters in a variety of flavors and sizes, and recently introduced a new collagen-infused water line.
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