A SHOC Energy, an energy drink backed by Keurig Dr Pepper, has completed a $29 million Series B funding round that included a star-studded group of current and retired professional athletes.
The company’s latest round featured MLB All-Stars Aaron Judge and Freddie Freeman, golfers Lexi Thompson and Brooks Koepka, NFL defensive lineman Chase Young, NASCAR driver Chase Elliot, and Pro Football Hall of Famer Michael Strahan.
Existing investors Keurig Dr Pepper, co-founder Lance Collins, and VC firm 7-Ventures also took part in the round.
A SHOC joins several emerging sports drink brands partnering with athletes to navigate a competitive market.
- In February 2021, Ready Nutrition teamed up with NBA star Giannis Antetokounmpo and NFL Pro Bowler Aaron Donald.
- NBA star LeBron James became the face of energy drink Mtn Dew Energy after inking a deal with PepsiCo in March 2021.
- In July 2021, sports drink brand X2 Performance raised $16 million in a Series D round that included NFL star Saquon Barkley.
A SHOC also exceeded expectations, as the company originally sought to raise $18 million before high demand increased the round. The company’s post-money valuation was not disclosed.
Collins has a wealth of experience in the beverage market. He founded Fuze Beverage, which Coca-Cola acquired in 2007 in a deal reportedly valued between $225 million and $250 million.
Keurig Dr Pepper bought his Core Nutrition brand in 2018 for $525 million. Collins was also a co-founder of BodyArmor, which Coca-Cola bought in 2021, valuing the brand at $6.6 billion.