Funding round
Spindrift Series B
Spindrift, which works in beverage manufacturing and distribution in Newton, raised $20M in a Series B round announced on 15 Mar 2018, led by VMG Partners. 4 firms took part, 1 of them already investors. It is Spindrift's first venture round on record.
$20M
Amount raised
Not disclosed
Post-money valuation
4
Investors
1 lead
Valuation
What this round says about the price
Spindrift did not disclose a valuation in this round. It is Spindrift's first venture round on record, 8 years after it was founded in 2010. It is 3.0% of the $670M Spindrift has raised in the venture rounds on record. Spindrift raised again 82 months later: a Growth round of $650M in Jan 2025.
Spindrift's funding rounds
Spindrift has 2 venture rounds on record and 1 other deal. This one is highlighted.
- Other not a venture round 3 May 2017, led by VMG Partners $10M
- Series B this round 15 Mar 2018, led by VMG Partners $20M
- Growth 1 Jan 2025 $650M
Investors
Who put money in
VMG Partners led the round with 3 other firms. VMG Partners had backed Spindrift before.
Lead investor
- backs 33 venture-backed companies existing investor
Also in the round
- Prolog Ventures new investor
- backs 12 venture-backed companies new investor
- backs 67 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion, sales and marketing, scaling operations and working capital.
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
5 Series B rounds in Beverages & Refreshments within a year either side disclosed an amount; the median was $17M, and this round was 1.2 times the median. The closest in time, other companies' Series B rounds in Beverages & Refreshments:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Beverages & Refreshments | 1 Feb 2018 | $7.0M | not disclosed | not named |
| Beverages & Refreshments | 13 Jul 2017 | $17M | not disclosed | Trinity Ventures |
| Beverages & Refreshments | 1 Jan 2019 | $25M | not disclosed | The Ecosystem Integrity Fund and PowerPlant Ventures |
| Beverages & Refreshments | 24 May 2017 | $19M | not disclosed | CAVU Consumer Partners |
| Beverages & Refreshments | 30 May 2017 | $17M | not disclosed | BIGR Ventures |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Spindrift raise in its Series B round?
Spindrift raised $20M in its Series B round, announced in Mar 2018.
Who led Spindrift's Series B round?
VMG Partners led it, with Prolog Ventures, KarpReilly and RiverPark Ventures.
What was Spindrift's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Beverages & Refreshments?
5 Series B rounds in Beverages & Refreshments within a year either side disclosed an amount; the median was $17M, and this round was 1.2 times the median.
Did Spindrift raise again after this round?
Yes: a Growth round in Jan 2025 of $650M.