The round closed this month and was led by Skyview Capital, said Kitu Life Chief Executive Officer Jim DeCicco, who founded the company with younger brothers Jake and Jordan.
The DeCiccos have a “never, ever say die attitude, a highly differentiated product, a large addressable market and a vision for building a sustainable and enduring brand,” Alex Soltani, founder of Los Angeles-based Skyview, remarked in a statement.
Anheuser-Busch InBev SA’s innovation arm, ZX Ventures, participated in the round, and AB InBev will help distribute Super Coffee products throughout the U.S.
“We’re excited to be a part of their story and support them on the next stage of their journey,” Tom Allison, ZX’s head of investment strategy and M&A, said in a separate statement.
The company’s sales have more than tripled each year since 2016, peaking at $26 million last year. The rapid growth is expected to continue, with Kitu forecasting about $70 million of revenue this year and $150 million in 2021, DeCicco said.
The cash injection will be used to fund distribution growth and build the company’s team, DeCicco said.