G.O.A.T. Fuel closes $5m seed round to accelerate growth trajectory

G.O.A.T. Fuel, the health-forward energy drink from Pro Football Hall of Famer and renowned NFL G.O.A.T. Jerry Rice, announced the successful closing on its initial Series Seed round of financing, which was oversubscribed and raised $5 million, putting total funds raised since launching in 2020 during the pandemic at $12 million.

The Series Seed financing round was led in conjunction by Stage 1 Fund and Morrison Seger Venture Capital Partners, with past investors in the company including former owner of the San Francisco 49ers, Eddie DeBartolo Jr., serial entrepreneur and owner of the Minnesota Timberwolves, Marc Lore, and co-founder Jerry Rice. The new capital will help to accelerate the tremendous growth of the company, allowing it to amplify marketing efforts as it continues to secure additional distribution in new markets across the country, unveils innovative new flavors, and builds consumer awareness and sentiment in an overall effort to capture a significant segment of the sports energy drink market.

Jaqui Rice Gold, CEO and Co-founder, G.O.A.T. Fuel: "We're grateful to have secured our first-ever institutional round of funding in a space that is becoming increasingly more competitive and despite growing market challenges. Our success in this round is another indication that conviction is building around our brand and demand is accelerating. Our new investors and the accompanying capital infusion helps us add fuel to the fire. I also want to extend a big thank you to Stage 1 Fund and Morrison Seger for helping to guide us through this process as we continue to establish G.O.A.T. Fuel as a serious contender in the sports energy drink space."

G.O.A.T. Fuel is quickly becoming the go-to energy drink for those looking for healthier, great-tasting energy, and is available online and at approximately 10,000 retail locations across the country including Publix, Target, Walmart and HEB.  Renowned for its cordyceps mushrooms - the first energy drink to tap into the powerhouse adaptogen - G.O.A.T. Fuel delivers sustained energy and is also powered by natural caffeine, green tea, BCAAs and 10 essential vitamins to improve recovery, making it the ideal beverage for anyone chasing greatness. It is also the Official Energy Drink of the Los Angeles Lakers - yet another indication of the beverage company's fast-growing popularity amongst athletes and non-athletes alike.

David Bartholomew, Board Director and Managing Partner, Stage 1 Fund: "Stage 1 Fund is pleased to announce our investment in G.O.A.T. Fuel, a differentiated and emerging brand within the sports energy silo that has demonstrated explosive growth over the past 2 years.  The G.O.A.T. Fuel Team and brand are well positioned to capture market share within the highly competitive and massive U.S. energy drink market which is projected to be $30 Billion by 2027. It has been a pleasure to work with the Founding Team of Jaqui, T.J. and of course the G.O.A.T. himself, NFL Legend & Hall of Famer Jerry Rice. Along with our Co-Investors & Advisory Board, we are focused on our continued support of the brand as we anticipate accelerated growth across new territories."

www.goatfuel.com