Zevia Secures $20 Million Growth Equity From GP Investments For Strategic Reset

Zevia has secured $20 million in growth equity from a fund managed by GP Investments in exchange for convertible preferred stock to support a strategic reset and accelerate growth. CEO Alexandre Ruberti, who took over in June, said the investment marks an important milestone as the zero-sugar soda maker plans to invest in product innovation, creator-led digital marketing, expanded distribution and adjacent better-for-you beverage categories. The deal follows pressure from activist investor Kanen Wealth Management for a strategic review, including a potential sale.

FOUNDERS: Derek Newman, Jessica Newman & Ian Eisenberg

INVESTORS: GP Investments & Kanen Wealth Management

AMOUNT: $20,000,000

HQ: Encino, California

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