OLIPOP Now Valued At Over A $1 Billion After Securing Latest Funding Round
About a decade ago, alcohol consumption in the U.S. was noticeably higher than it is today. Data shows a significant decline, especially among Gen Z, the next generation of consumers. Beyond younger drinkers, the rise of “sober curious” consumers—those prioritizing health and wellness, particularly post-COVID—has reshaped the beverage landscape. That shift may help explain why OLIPOP, the buzzy prebiotic soda brand, is now valued at $1.85 billion after securing $50 million in its latest funding round, led by JP Morgan Private Capital’s Growth Equity Partners.
Founded in 2018 by Ben Goodwin and David Lester with an initial investment of $100,000, OLIPOP’s timing couldn’t have been better. The prebiotic soda movement began gaining momentum in the early 2020s, with other brands like Poppi, Wildwonder, and Culture Pop also emerging to meet the growing consumer demand. Despite the rise of these better-for-you alternatives, OLIPOP has maintained its position as the top non-alcoholic brand in the U.S. by both dollar sales and unit growth, according to data from Circana and SPINS.
In the latest sign of the booming prebiotic soda space, PepsiCo made headlines when it acquired Poppi, a major competitor, for $1.5 billion. This move is a clear indicator of the category’s explosive growth, with Pepsi recognizing the increasing consumer appetite for healthier alternatives to traditional sodas.
When OLIPOP first launched, it offered just three flavors: ginger lemon, strawberry vanilla, and cinnamon cola. Today, the brand boasts an impressive portfolio of 16 flavors. Thanks to the success of its latest funding round, OLIPOP now has the resources to expand its marketing efforts, introduce new flavors, and increase distribution. This will allow the brand to better compete with dominant soda giants like Coca-Cola and Pepsi.
“It’s staggering and thrilling to have achieved a $1.85B valuation after just five to six short years in market,” Ben Goodwin, OLIPOP’s Co-Founder and CEO shared in a statement, adding it’s “a testament to the innovation breakthroughs and momentum we have demonstrated as the founders of the modern soda category.”
As younger consumers embrace “sober curious” drinking habits and Millennials become more mindful of their alcohol intake, many are realizing that bouncing back from a night out isn’t as easy as it was a decade ago. This shift in behavior suggests a continued rise for healthier alternative soda brands like OLIPOP.
