- US $45 million raise provides Flow Alkaline Spring Water 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
- Flow expects to sell 100 million packs of water in 2020
- The brand expects to double its consumer base from 10 million to 20 million by 2021
TORONTO and NEW YORK CITY, May 5, 2020 /CNW/ - 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. 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. 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."
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. Institutional investors in this round include Ruttenberg Gordon Investments.
"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.
The packaged water market is evolving, and Flow is leading that 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, and enter 2021 with an outlook of owning 10% percent market share of the country's 189 million premium water buyers.
Flow's alkaline mineral water comes from proprietary natural artesian spring water sources in Seawright Springs, Virginia, and Ontario, Canada. Ultimately though, Flow is celebrated by consumers and retailers as one of the purest tasting waters sold today.
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.
All Flow waters are packaged in Tetra-Pak®, produced from renewable wood fiber and an increasingly viable alternative to plastic containers. In 2020, Flow is also transitioning to Tetra-Pak's new packaging composed of +/-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.
About Flow Alkaline Spring Water®
Flow is one of the fastest growing premium water brands in North America, offering naturally alkaline spring water in a range of flavors. Flow was founded in 2015 and is a B-Corp Certified company. Founded by serial entrepreneur Nicholas Reichenbach, Flow was introduced on the principal that naturally sourced spring water is one of the best forms of hydration. All Flow beverages are mindfully sourced from protected springs. Flow is packaged in a Tetra-Pak paper carton made from +/-75 percent renewable resources.
Due to its unique origins, Flow's water is filled with naturally occurring electrolytes, essential minerals, and an alkaline pH of +/-8.1. The Flow brand is available at over 20,000 retailers across the United States, Canada, and Europe including Whole Foods Market, Sprouts Farmers Market, CVS, Costco business centers, Walmart, Safeway, Wegmans, Harris Teeter, Walmart, Giant Eagle, Bristol Farms, Raley's, Vitamin Shoppe, Office Depot, Loblaws, Sobeys, Metro, Rexall and Farm Boy. For more information on Flow Alkaline Spring Water, please visit flowhydration.com, or follow Flow on social media; Instagram and Twitter and facebook.com/FlowHydration.
SOURCE Flow Alkaline Spring Water