Blake Mycoskie, the founder of TOMS Shoes, participated in a $17.5 million Series B funding round for Athletic Brewing, an alcohol-free beer company. This investment highlights the growing interest in the alcohol-free beer market among investors. With its unique positioning as a beer for athletes, Athletic Brewing has seen tremendous growth, with retail sales exceeding $1.3 million. The additional funding will allow the company to expand production capacity to keep up with demand. Mycoskie’s investment, along with other investors focused on health and sustainability, reinforces the viability of Athletic Brewing’s model of providing beer lovers an alternative that aligns with an active, balanced lifestyle.
Blake Mycoskie co-leads Athletic Brewing’s $17.5 million Series B round
Athletic Brewing completed a $17.5 million Series B funding round in March 2020 led by Blake Mycoskie’s investment fund, Wheelhouse Investment Partners. Mycoskie is best known as the founder of TOMS Shoes and its innovative one-for-one donation model. His investment indicates growing investor appetite for unique brands in the non-alcoholic beer sector.
Other notable investors participating in the round include Tastemaker Capital Partners and a group of individual investors. Prior investors also joined the round, reflecting continued confidence in Athletic Brewing’s business.
According to Athletic Brewing’s founder Bill Shufelt, the company has seen hockey-stick growth, with revenue multiplying 10 times from 2018 to 2019. The fresh capital will support expanding production capacity to keep up with rising consumer demand.
Positioned as a beer for athletes, Athletic Brewing taps into growing health trends
As a non-alcoholic craft beer, Athletic Brewing’s products fill a white space in the market – high quality, full-flavored beers that don’t compromise health, wellness or performance goals.
Athletic Brewing brews its beers using organic malts to deliver surprisingly complex flavors reminiscent of traditional craft beers, but with an alcohol content below 0.5%. Its offerings are crisp and thirst-quenching – ideal to drink after a tough workout or intense game when consumers want to rehydrate but limit alcohol intake.
This unique value proposition resonates especially well with millennials and younger consumers who are driving growth in non- and low-alcohol segments. Athletic Brewing’s sponsorship of major marathons and professional beach volleyball further cements its positioning.
As consciousness around wellness and moderation increases, Athletic Brewing lets consumers enjoy the beer drinking experience without tradeoffs, appealing to serious athletes along with casual exercisers looking to make healthier choices.
Blake Mycoskie and other high-profile investors add momentum
For an innovative company like Athletic Brewing that’s growing rapidly into an emerging market segment, landing high-profile investors lends useful expertise and connections.
Blake Mycoskie provides strategic guidance drawing from his experience building TOMS into a hugely successful lifestyle consumer brand driven by a higher purpose. Athletic Brewing aims to pursue a similar model focused on promoting an active, balanced living.
Other investors including Wall Street veteran Mike Repole and former Nike and Uber executive Bill Shuff also offer invaluable insights on growth strategy and execution.
The high-caliber backing Athletic Brewing has attracted so far confirms the promise of the business model and massive market potential as consumer preferences continue shifting toward healthier choices.
Blake Mycoskie’s participation in Athletic Brewing’s latest funding round signals rising investor interest in non-alcoholic beer makers that creatively cater to modern consumer preferences and values. With its positioning squarely targeting health-conscious consumers and athletes, Athletic Brewing has struck product-market fit with huge runway for growth still ahead.