Partake Brewing, a leading craft non-alcoholic beer brand in North America, announced today it has raised $4 million in its first institutional funding round led by San Francisco based CircleUp Growth Partners, CircleUp’s equity fund that takes a data-driven approach to investing in visionary entrepreneurs and products. Self-funded since launching three years ago, the brand is now poised to lead the renaissance of the non-alcoholic beer category that consumers are driving as they change why, when and how they drink and socialize. Joining CircleUp in this financing are Export Development Canada (EDC), Natural Products Canada, McLean & Associates and Barrel Ventures.
Launched in 2017, Partake Brewing is a non-alcoholic craft beer brand that focuses on flavor, health, socializing and inclusivity for people who choose not to drink alcohol whether as a need or increasingly as a lifestyle choice. Partake Brewing was founded by Ted Fleming after a diagnosis of Crohn’s Disease led him to give up alcohol. Ted turned to drinking non-alcoholic beer to maintain the connection and interaction that comes with social drinking. He found that variety and taste were missing from current offerings, inspiring him to brew his own. Partake Brewing now brews a variety of craft non-alcoholic beers that consumers love for their exceptional taste and category-leading calorie profiles (10 calories per can). The company has been the recipient of numerous international awards for product quality and innovation including a Gold Medal at the World Beer Awards for Best Non-Alcoholic Beer.
“We are thrilled to be joined on our mission to transform the non-alcoholic beer category by such an accomplished team of investors, board members, and advisors,” said Ted Fleming, founder and CEO of Partake Brewing. “With their support, guidance, and insights, Partake Brewing is in a fantastic position to expand our category leadership position in North America with our trailblazing products.”
The new funds will accelerate Partake Brewing’s growth specifically in the U.S. market by allowing the brand to secure key hires, grow its distribution and retail network and build consumer brand awareness to support Partake Brewing’s expanding coverage with retailers such as Total Wine & More and Whole Foods Market.
“We’re on a mission to help entrepreneurs thrive by giving them the capital and resources they need,” said Pat Robinson, managing director, CircleUp Growth Partners and Member of the Board for Partake Brewing. “Ted has built an amazing capital-efficient business and we’re excited to partner with him to accelerate growth.”
“Helio, our proprietary technology platform, flagged that Partake excels on taste, variety and nutritionals – the top three purchase criteria in the non-alcoholic beer category,” said Trevor Rechnitz, Partner, CircleUp Growth Partners. “Partake’s five varieties, 10 calories and 2 grams of carbs per can, and award-winning taste combine to differentiate it from the other emerging players.”