Drink Monday, leader in non-alcoholic beverages, secures growth funding from Decathlon Capital Partners
Revenue-based funding transaction will support company’s growth and expansion on a dilution-free basis
CARLSBAD, CA (PRNEWSWIRE) OCTOBER 19, 2022
Drink Monday, the fast-growing leader in the non-alcoholic beverage category, has landed a substantial investment from Decathlon Capital Partners. Details of the revenue-based funding transaction were not disclosed.
Drink Monday, which is headquartered in Carlsbad, Calif., will use the funding to support the expansion of its product lines and enhanced distribution.
“Drink Monday’s three top-rated premium beverages — Monday Gin, Monday Whiskey, and Monday Mezcal — all have won strong acceptance among the growing number of cocktail drinkers who seek an alcohol-free alternative,” said Chris Boyd, Chief Executive Officer of Drink Monday. “This funding from Decathlon Capital Partners provides significant support as we develop additional products and create a growing community of consumers,” Boyd said the revenue-based transaction provides important flexibility to Drink Monday without loss of control or equity dilution. Drink Monday will repay the investment through its future revenues. No equity or ownership was exchanged for the growth capital, and Drink Monday was not required to give up any control of the company.
Matt Hoffman, Vice President of Decathlon Capital Partners, said Drink Monday has built a solid platform for continued success. “The founding team of Drink Monday has more than 80 years of experience, the non-alcoholic beverage category has grown by more than 500 percent since 2015, and Drink Monday’s products win praise from consumers who demand non-alcoholic cocktails that support their work-hard, play-hard lifestyles,” Hoffman said. “Drink Monday is well-positioned to continue its growth trajectory.”
About Drink Monday
Founded in 2019 by entrepreneur and fitness enthusiast Chris Boyd, Drink Monday is a pioneer in the non-alcoholic spirits category, created to serve people delicious drinks without alcohol. Their flagship products, Monday Gin, Monday Whiskey, and Monday Mezcal, are premium non-alcoholic spirits that provide the look, feel, and most importantly — taste — that cocktail drinkers want, minus the alcohol that many are increasingly trying to avoid or substitute. Drink Monday is not only alcohol-free, but supports a wide variety of healthy lifestyles with its zero-calorie, no carbs, 0 sugar, vegan, gluten-free, and Big-8 allergen-free profile. Learn more at https://drinkmonday.co.
About Decathlon Capital Partners
Decathlon Capital Partners provides growth capital for companies seeking alternatives to traditional equity investment. Through the use of highly customized revenue-based financing solutions, Decathlon provides long-term growth capital without the dilution, loss of control and operational overhead that often comes with equity-based funding. With offices in Palo Alto and Park City, Decathlon is the largest revenue-based funding investor in the U.S. and is active across a wide range of sectors. Learn more at https://www.decathloncapital.com.