Athletic Greens has raised $115 million in new funding that values the nutritional powder maker at more than $1 billion.
Led by Alpha Wave Ventures, the funding round included new investor and e-commerce entrepreneur Mark Vadon and returning investors SC.Holdings and Bolt Ventures.
Athletic Greens will use the new financing to accelerate the growth of its subscriber base through increased digital and offline distribution. The company will also use the fresh capital for scientific research, launching new products, and broadening the brand’s geographic reach.
- The company offers a single 75-ingredient product called AG1.
- Its 30-serving powder package sells for $99 or $79 with a monthly subscription.
The latest funding follows an initial investment round in July 2021, the company’s first raise with strategic outside investors. The round — led by SC.Holdings — included Formula 1 driver Lewis Hamilton and U.S. gold medalist Shawn Johnson.
Financial terms were not disclosed, but Athletic Greens has a $150 million revenue run-rate.
Growth & Innovation
Athletic Greens will be looking for emerging web3 opportunities and will continue to reach new customers through its network of digital content creators and partners.
The remote-only company, which expects to triple its workforce in 2022, has operations in North America, Europe, China, and New Zealand.
Editor’s note: SC.Holdings is an investor in FOS.