After explosive recent growth, Denver-based drinkware startup BrüMate brought on its first outside capital Tuesday, with a $20 million strategic investment from San Francisco Equity Partners.
Founded in 2016 by Dylan Jacob, BrüMate has a growing line of insulated drinkware for adult beverages, including wine tumblers, wine canteens, can and bottle coolers, barware and coolers.
San Francisco Equity Partners is a private equity firm exclusively focused on growth-oriented companies in the consumer sector. Prior to this round, BrüMate hadn’t brought on outside capital.
The company was recently named No. 14 on Inc. Magazine’s 2020 Inc. 5,000 list of the fastest growing companies in America, and Jacob is a Forbes 30 under 30 alum. Since launching four years ago, BrüMate has reached more than two million global customers.
“We began the process in February after closing out 2019 with nearly 12,000% growth over the last 3 years,” Jacob told Colorado Inno. “It became evident that BrüMate's journey is only beginning, and that it's going to be increasingly important to have the right people in place to ensure its longevity.”
He said the funding was secondary to the partnership, as SFEP operating partner Moiz Ali, founder of leading D2C natural personal care brand Native, is investing alongside SFEP and will be working closely with Jacob and the management team.
“As a single founder, it was important for me to find a group that could come on and help guide as I steer the ship,” Jacob said. “Our growth is attributed to our commitment to innovation and our customers along with an incredible team.”
The company has 21 employees in Colorado and is continuing to hire and build its team in Denver.
“BrüMate is a truly unique brand that has developed a strong emotional connection with its consumer,” said Scott Potter, Managing Partner of SFEP. “We are committed to retaining the brand’s focus on innovation, product quality, and enhancing shared outdoor consumer experiences.”
