Yesterday, after three years of self- and crowd-funding, developing, and evolving into one of Canada’s preeminent leaders in the non-alcoholic beer category, Partake Brewing announced it had closed its first institutional funding round at $4 million USD.
Led by San Francisco-based CircleUp Growth Partners (along with Export Development Canada, Natural Products Canada, and Barrel Venture), Partake’s Series A investment will help the Canadian brewery’s growth--specifically in the U.S.--by allowing the brand to secure key hires, bolster its distribution and retail network, and build consumer brand awareness.
“This funding will help us continue to grow the Partake brand in both Canada and the U.S. and further our mission to transform the non-alcoholic beer category,” said Partake founder Ted Fleming, when he shared the news via LinkedIn.
Fleming, who launched Partake Brewing in 2017 after a diagnosis of Crohn’s disease led him to give up alcohol, says that while the path to this point has had its share of hurdles, the persistent backing of Partake supporters has enabled them to expand its category leadership in North America.
“This month also marks the three year anniversary of when I shipped out our first ever batch of IPA to our incredible Kickstarter backers,” Fleming continued. “It’s been a long road of bootstrapping, learning, and redefining an entire category but I could not be more grateful for the support, encouragement and help I’ve received along the way and for the hard work put in by my team over the incredibly hard years of being a startup. Thank you.”
Partake brews a variety of low calorie, craft non-alcoholic beers (IPA, blonde, stout, red, and pale) and have received numerous international awards for product quality and innovation, including a Gold Medal at the World Beer Awards for best non-alcoholic beer.