G.O.A.T Fuel, a Dallas, TX-based maker of a health-forward energy drink, raised $5M in Seed funding.
The round, which brought the total amount to $12M, was led 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 company intends to use the funds to accelerate growth, to amplify marketing efforts as it continues to secure additional distribution in new markets across the country, launch innovative new flavors, and build consumer awareness in the sports energy drink market.
Co-founded by CEO Jaqui Rice Gold, Trevion Gold and Jerry Rice, G.O.A.T Fuel is a lifestyle brand focused on bringing health-forward products and a G.O.A.T. mindset to consumers. Its energy drink has a proprietary blend of cordyceps mushrooms, 200 mg of natural caffeine, green tea with EGCG, ginger, amino acids and 10 essential vitamins.