Olipop company profile: valuation, funding & revenue

This Olipop company profile covers the company's valuation, revenue, funding rounds, investors and history. Olipop works in consumer, with a focus on beverages. It was founded in 2018 and is headquartered in Oakland, California, United States. Its latest valuation on record is US$1.85 billion (February 2025). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.

Revenue

More than US$400 million — Annual sales, 2024 (reported), as of 2024. Source: NBC News.

Funding history

Olipop timeline

Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.

• 2018 — Olipop is founded in Oakland by Ben Goodwin (CEO) and David Lester.
• 2022 — Series B: About US$39.7M.
• Feb 2025 — Series C: US$50M, valuing the company at US$1.85B. Investors: J.P. Morgan Private Capital's Growth Equity Partners (lead).

Investors

Overview

Olipop makes sodas that aim to taste like classic soft drinks such as root beer, cola and orange cream, but with much less sugar and added fibre and prebiotics intended to support digestive health. The brand became one of the fastest-growing beverage companies in the US, sold in major grocery and convenience chains, and helped create the "better-for-you soda" category. In February 2025 it raised a US$50 million Series C at a US$1.85 billion valuation, led by J.P. Morgan Private Capital's Growth Equity Partners, and said it had been profitable since early 2024. Its annual sales passed US$400 million in 2024, according to reports.

Ben Goodwin, the CEO, and David Lester founded Olipop in 2018 in Oakland, California. The two had previously founded Obi, a probiotic soda brand. Goodwin has said he wanted to create a soda that offered nostalgic flavours with genuine health benefits, informed by research on gut health and fibre.

Products

• Prebiotic sodas: a wide range of flavours, including Vintage Cola, Classic Root Beer, Strawberry Vanilla and Orange Squeeze.
• Low sugar formulation: drinks with a few grams of sugar per can, sweetened with ingredients such as stevia and fruit juice.
• Fibre and botanicals: prebiotic fibres and plant ingredients included in each can.
• Retail and online sales: distribution through supermarkets, mass retailers, convenience stores and online.

Funding

Olipop raised a Series B of about US$39.7 million in 2022. In February 2025 it raised a US$50 million Series C at a US$1.85 billion valuation, led by J.P. Morgan Private Capital's Growth Equity Partners. The company described it as its final anticipated round of equity financing and said it had become profitable in early 2024. Investors have also included Monogram Capital Partners and celebrity backers.

Revenue

CNBC reported that Olipop's annual sales surpassed US$400 million in 2024, doubling from the previous year, while Bloomberg reported that sales fell short of US$500 million. CEO Ben Goodwin said the company was fully profitable while maintaining triple-digit growth, and expected high double-digit growth for 2025.

Business model

Olipop sells its drinks through distributors and directly to retailers, with some direct online sales. Revenue depends on shelf placement, sales velocity and pricing. Premium pricing and efficient operations support its profitability, while marketing and distribution expansion drive growth.

Competition

Olipop's closest competitor was Poppi, which PepsiCo agreed to acquire in 2025, bringing big-company resources to the category. Coca-Cola and other large beverage companies have also launched prebiotic or low-sugar sodas. Olipop also competes with traditional sodas, sparkling waters and functional drinks, including brands such as Liquid Death.

Olipop at a glance

Olipop is an Oakland, California, prebiotic soda company founded in 2018 by Ben Goodwin and David Lester. It makes low-sugar sodas with fibre and prebiotics. It raised a US$50 million Series C in February 2025 at a US$1.85 billion valuation, led by J.P. Morgan Private Capital, with 2024 sales above US$400 million and profitability since early 2024.

Timeline

• 2018: launches Olipop.
• 2020–2022: expands distribution to national retailers.
• 2022: raises a Series B.
• Early 2024: reaches profitability.
• February 2025: raises US$50 million at US$1.85 billion.

The better-for-you soda boom

Many consumers want to cut sugar but still enjoy soda. Diet sodas use artificial sweeteners that some people avoid, and sparkling waters lack the taste of soft drinks. Olipop and Poppi offered a middle path with familiar flavours, less sugar and added functional ingredients, marketed through social media and eye-catching packaging. Their success prompted acquisitions and launches by large beverage companies, a common pattern when startups prove a new category. Some health claims around prebiotic sodas have been challenged, including in litigation involving competitors, so marketing claims require care.

Who funds Olipop

Olipop's investors include J.P. Morgan Private Capital's Growth Equity Partners, which led its Series C, Monogram Capital Partners and several celebrity investors.

Who buys Olipop

Olipop's customers are consumers seeking healthier soda alternatives, sold through major US grocery, mass retail and convenience chains.

Valuation context

A US$1.85 billion valuation on more than US$400 million of sales values Olipop at roughly four to five times annual sales. PepsiCo's acquisition of Poppi provides a benchmark for the category. Our guide to direct-to-consumer brands compares it with consumer peers.

Risks

• Competition: large beverage companies are entering the category.
• Health claims: marketing about gut health faces scrutiny.
• Retail placement: shelf space is competitive and costly.

How Olipop built its brand

Olipop grew through a combination of product, packaging and social media. Its colourful cans and nostalgic flavours stood out on shelves dominated by traditional sodas. Social media, including TikTok and Instagram, spread awareness among younger consumers interested in gut health and lower sugar. Sampling and retailer partnerships helped it move from natural food stores into mainstream supermarkets and mass retailers. Because Olipop sold at premium prices and reached profitability, it could keep investing in marketing without relying entirely on outside funding. The arrival of Pepsi-backed Poppi and Coca-Cola's competing products will test whether Olipop's brand loyalty holds as the category becomes crowded.

Profitability as a strategy

Many consumer startups raise repeatedly while losing money. Olipop's statement that its 2025 round would be its last anticipated equity raise signals a different strategy: grow from profits, preserve ownership and keep options open for a sale or IPO on its own terms.

Who uses Olipop

Olipop is popular with consumers trying to reduce sugar, parents choosing drinks for families, and younger shoppers drawn to its flavours and branding. Retailers value it as a fast-selling, higher-priced product in the soda aisle.

Questions for retailers

Retailers deciding how much shelf space to give Olipop typically look at its sales velocity compared with other sodas, the performance of individual flavours, promotional support from the brand and how it performs against Poppi and other better-for-you options in their stores. Strong velocity and loyal repeat buyers are what keep a beverage brand on shelves as competition increases.

Funding and control

Beyond J.P. Morgan Private Capital, which led the Series C, Olipop's earlier backers include consumer-focused investors. Its profitability means outside capital is less central to its growth than for many consumer brands, giving founders more control over long-term decisions such as whether to pursue a sale or an IPO.

What to watch

Watch sales growth, profitability, new products, acquisition interest and competition from Pepsi-owned Poppi and Coca-Cola.

Takeaways

Consumers can enjoy soda flavours with less sugar. Founders can see how profitable growth reduces reliance on funding. Investors should watch big-company competition.

Sources

Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.

1. Bloomberg
2. NBC News
3. BevIndustry
4. Just Drinks