Prebiotic soda brand Olipop recently announced that it was valued at $1.85 billion after raising $50 million in its latest funding round. Founded in 2018, Olipop has contributed to the growth of the prebiotic soda category, alongside rival Poppi. Both brands have gained popularity by promoting their drinks as beneficial for gut health, in line with current wellness trends.
Olipop’s Series C funding round was led by J.P. Morgan Private Capital’s Growth Equity Partners, with plans to expand its product lineup, marketing efforts, and distribution. The company has become the top non-alcoholic beverage brand in the U.S., experiencing significant growth from both legacy soda drinkers and new consumers entering the market.
In early 2024, Olipop achieved profitability, reporting annual sales exceeding $400 million and double the previous year’s figures. Soda giants PepsiCo and Coca-Cola have reportedly shown interest in potentially acquiring the brand. Meanwhile, Poppi, Olipop’s competitor, has raised $39.3 million and generated over $100 million in annual sales in 2023.
However, Poppi has faced criticism for its health claims, with ongoing discussions to settle a lawsuit challenging the accuracy of its marketing. Despite this, Poppi’s Super Bowl ad for two consecutive years has helped increase its visibility and market presence. Both Olipop and Poppi are thriving in the growing prebiotic soda segment and continue to attract a diverse consumer base.
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