Beekeeper’s Naturals, a Los Angeles, CA-based health and wellness company creating products based on propolis, raised $14M in funding.
The round was co-led by Devonshire Investors (the private investment firm affiliated with FMR LLC, the parent company of Fidelity Investments) and Cavu Consumer Partners, with participation from Vibrant Ventures and Muse Capital.
The company intends to use the funds to accelerate growth in retail and online, while expanding their innovation pipeline.
Led by Founder Carly Stein Kremer in 2017, Beekeeper’s Naturals creates products powered by propolis and backed by science. Using remedies from the beehive, the team is committed to providing solutions to modern health issues including chronic stress, poor sleep, digestive issues and scratchy throats. They apply scientific rigor to their product development and commit to third-party pesticide testing to ensure they’re creating natural remedies that actually deliver. Recently, the brand’s flagship product, Propolis Throat Spray, secured the #1 rank in the Cold & Flu category on Amazon and has become the fastest growing brand in the Immune Support Category at mass retail.
This investment follows Beekeeper’s triple digit YOY growth and retail expansion, increasing from 5,000 to over 18,000 locations in the U.S and Canada in 2022.
FinSMEs
16/06/2023