Spindrift Beverage Co.

Spindrift is a soda and seltzer company that was founded in 2010 by Bill Creelman. Spindrift's marketing emphasizes that there is 5-8% real fruit juice in every can of its sparkling water, as opposed to the "natural flavors" used by competitors.[1]

Spindrift lemon, for example, contains 3% juice.

Spindrift
TypePrivate
IndustryBeverage
Founded2010 (2010) in Waltham, Massachusetts, United States
FounderBill Creelman
Key people
Bill Creelman
Number of employees
98
Websitedrinkspindrift.com

Background

Creelman said he named the company Spindrift after term for the white wash of a wave, or windblown surf, which he learned about when working on a fishing boat near Nantucket.[2]

Spindrift is currently available in 11 flavors: grapefruit, blackberry, cucumber, lemon, raspberry lime, orange mango, strawberry, cranberry raspberry, lime, pineapple, and half and half (half lemon, half tea).[3]

History

On April 1, 2010, Bill Creelman founded Spindrift Beverage Co., Inc. in Newton, Massachusetts.[4]

On May 03, 2017, Spindrift closed on $10 million of new growth capital led by VMG Partners.[5]

On June 4, 2014, Spindrift double their company's staff from four to eight people with public expectation of more jobs opening up.[6]

On February 28, 2018, Spindrift announced new distribution of their products in Kroger, Starbucks,[7] and Whole Foods.[8]

On March 20, 2018, Spindrift secured $20 million in funding from VMG Partners.[7] On June 14, 2018, Spindrift reported experiencing a 800% sales increase from 2016 to 2018.[9]

During March 2020, Spindrift raised $29.8 million in funding from Moelis & Company LLC.[10] As of November 2020, Spindrift has 105 employees and $69.9 million in total funding.[11]

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. "Spindrift - Crunchbase Company Profile & Funding". Crunchbase. 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. 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.
  7. "Spindrift secures $20M to ramp up advertising in sparkling water sector". 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 CEO on quenching consumer thirst for sparkling water and real ingredients". Food Dive. Retrieved 2020-11-29.
  10. "Spindrift secures $29.8M as the sparkling water category grows". Food Dive. Retrieved 2020-11-29.
  11. "Spindrift Beverage Company Profile". Retrieved 2020-01-25.
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