New York-based Athletic Greens is valued at $1.2 billion after bagging a $115 million investment.
WHO: The direct-to-consumer subscription business Athletic Greens, which created AG1, a powdered beverage designed to provide daily nutrition, was founded in 2010 by CEO and serial entrepreneur Chris Ashenden. The product combines more than eight nutritional products into one, including multivitamins, probiotics, and immune support, and is approaching its fifty-third iteration later this year.
WHY: This new financing will help Athletic Greens grow the AG1 subscriber base through increased digital and offline distribution, broaden geographic expansion, increase production capabilities, invest in its global manufacturing and logistics capabilities, and bolster scientific research and innovation to continuously improve AG1 and strategically develop and launch new products.
IN THEIR OWN WORDS: "We have incredible momentum in our mission to help people around the world take ownership of their daily health by focusing on foundational nutrition," said Athletic Greens founder and CEO Chris Ashenden. "Consumers are demanding more from the health products they use daily and we have emerged as a leader by helping people realize their functional health goals with an incredibly high-quality and convenient product, AG1. I'm incredibly excited about the global movement we've created."
“Athletic Greens is rapidly growing a new, important category within the ascendant health and wellness space—built on trust," said Rick Gerson, Chairman of Alpha Wave Global. "The story of how Chris and the team built Athletic Greens from scratch to this point while being bootstrapped until very recently is remarkable, and we think the story is only starting. They've built an impressive business based on a best-in-class product, an innovative customer acquisition model, and most importantly, a relentless focus on the customer. We're excited to see their continued growth and impact as they expand globally.”
DETAILS:
