Liquid Death canned water has closed $67 million in fresh funds from national distributors and strategic investors, including actor Josh Brolin and NFL All-Pro DeAndre Hopkins, the Los Angeles-based beverage company revealed Monday.
The funding values the business, which boasts 7.9 million followers across social media, at $1.4 billion. The company said the funding is a “strong increase over prior funding rounds” and will go toward innovation and scaling operations, which has been “accelerated by higher than anticipated retailer demand” for Liquid Death’s new flavored sparkling water flavors and iced tea flavors slated to launch this spring, the company said.
“Liquid Death has become the fastest growing and leading brand across the water, flavored sparkling water, and iced tea categories,” said Mike Cessario, founder and CEO of Liquid Death. “We continue to see extremely strong consumer and retailer demand and are proud to have raised a strategic, oversubscribed, ‘up’ round to fuel our growth.”
Cessario said this round, coupled with the appointment of Stephen Ballard, a seasoned sales executive and White Claw alum, will enable Liquid Death to “murder thirst and plastic bottles around the globe.”
In 2023, Liquid Death expanded to 113,000 retail doors across the United States and United Kingdom, including in convenience stores, and hit $263 million in retail sales. The company achieved over triple-digit growth for the third consecutive year, becoming the fastest-growing top water and top iced tea brand, according to SPINS.
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