Spindrift Beverage Co.

Spindrift is an American soda and seltzer company. Spindrift uses fruit juice to flavor its products.[1]

Spindrift
TypePrivate
IndustryBeverage
Founded2010 (2010) in Waltham, Massachusetts, United States
FounderBill Creelman
Key people
Jefferson McDume
Number of employees
105
Websitedrinkspindrift.com

Background

The company was founded in 2010 by Bill Creelman, who said he named it Spindrift after the term for the whitewash of a wave, or windblown surf.[2]

Spindrift is currently available in eight flavors: grapefruit, lemon, raspberry lime, orange mango, strawberry, lime, pineapple, and half and half (half lemon, half tea) and three seasonal flavors: lemon limeade, strawberry lemonade, pink lemonade.[3]

History

On June 4, 2014, Spindrift expanded its company's staff from four to eight people.[4] On May 3, 2017, Spindrift closed on $10 million of new growth capital led by VMG Partners.[5] On February 28, 2018, Spindrift announced new distribution of its products in Kroger, Starbucks,[6] and Whole Foods.[7] On March 20, 2018, Spindrift secured $20 million in funding from VMG Partners.[6] On June 14, 2018, Spindrift reported experiencing a 800% sales increase from 2016 to 2018.[8] During March 2020, Spindrift raised $29.8 million in funding from Moelis & Company LLC.[9] As of November 2020, Spindrift has 105 employees and $69.9 million in total funding.[10]

References
  1. Ellen, Mary. "Spindrift gets sprinkle of stardust in first nationwide campaign, on road to be 'beverage solution for everybody'". Foodnavigator-usa.com. Retrieved 2019-07-21.
  2. "Massachusetts-based Spindrift upending seltzer industry by using real squeezed fruit". masslive. 2018-07-06. Retrieved 2020-11-29.
  3. "Spindrift Flavors". drinkspindrift.com. Retrieved 4 October 2020.
  4. Chesto, Jon (2014-06-06). "Spindrift, the Charlestown soda company, has doubled its staff thanks to VC funds - Boston Business Journal". www.bizjournals.com. Retrieved 2020-11-29.
  5. Spindrift. "Spindrift Sparkling Water Closes $10 Million In New Growth Capital Led By VMG Partners". www.prnewswire.com. Retrieved 2020-11-29.
  6. "Spindrift secures $20M to ramp up advertising in sparkling water sector". Food Dive. Retrieved 2020-11-29.
  7. "Spindrift CEO on quenching consumer thirst for sparkling water and real ingredients". Food Dive. Retrieved 2020-11-29.
  8. "Spindrift CEO on quenching consumer thirst for sparkling water and real ingredients". Food Dive. Retrieved 2020-11-29.
  9. "Spindrift secures $29.8M as the sparkling water category grows". Food Dive. Retrieved 2020-11-29.
  10. "Spindrift Beverage Company Profile". Retrieved 2020-01-25.
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