The company is the fastest growing brand in immune supplements and is focused on category expansion as they reinvent the medicine cabinet with propolis.
Beekeeper’s Naturals announced today the closing of a $14M funding round, co-led by Devonshire Investors (the private investment firm affiliated with FMR LLC, the parent company of Fidelity Investments) and CAVU Consumer Partners, with participation from Vibrant Ventures and Muse Capital. This follows Beekeeper’s Naturals’ 2020 Series B led by CAVU Consumer Partners.
This investment comes on the heels of Beekeeper’s triple digit YOY growth and retail expansion, increasing from 5,000 to over 18,000 locations in the U.S and Canada in 2022. This capital will continue to fuel the company’s rapid growth in retail and online, while expanding their innovation pipeline. Most recently the brand’s hero product, Propolis Throat Spray, secured the #1 rank in the Cold & Flu category on Amazon and has become the fastest growing brand in the Immune Support Category at mass retail.
“Devonshire’s investment will help support Beekeeper’s Naturals in taking another major step in revolutionizing the medicine cabinet and building the most impactful health care brand in the world,” said Founder, Carly Stein Kremer. “We will continue to invest in brand marketing and product development, as we focus on retail expansion into 2024.”
Beekeeper’s continues to bridge the gap between healthcare and wellness, working with a medical advisory board and creating products based on published science and clinical trials. With nearly 2M bottles of the brand’s Propolis Throat Spray sold, Beekeeper’s remains a cult favorite for immune support, with celebrity investors including Cameron Diaz, Nas, and Lily Collins.
“We are thrilled to be supporting Beekeeper’s Naturals as they accelerate their growth at retail and online,” said Suzanne Agnello, who led the investment for Devonshire Investors. “The company’s propolis and beehive-based products have broad application and are helping reinvent the OTC medicine aisle. We see significant opportunity for the brand to continue its rapid expansion.”
“Beekeeper’s Naturals answers the call of modern consumers who demand cleaner, better-for-you and efficacious alternatives to traditional OTC products,” said Jared Jacobs, Partner at CAVU Consumer Partners and Beekeeper’s Naturals Board member. “We are proud to partner with Carly and Daniel, along with the strong team they have assembled, to reimagine the medicine aisle and help build one of the leading, trusted, natural health & wellness brands.”
Source:PRNewswire/ Techwithat
