The money continues to flow for celeb-backed subscription water company Flow Alkaline Spring Water.
The Toronto-based water brand has secured $45 million in new funding, including from rapper Post Malone, as it looks to ramp up its delivery service to meet surging demand as a result of the coronavirus pandemic, The Post has learned.
“With COVID-19 our sales are up by 50 percent,” founder and chief executive, Nicholas Reichenbach told The Post. “Our e-commerce business is exploding now as more consumers order from us directly.”
The boxed water company can be delivered straight to consumers’ doorsteps or purchased at Whole Foods, Safeway, Wegmans, Office Depot and more recently Walmart. A 12-pack of 500 milliliter boxes costs $24, or $2 per container.
Flow provides free delivery to customers who subscribe for regular shipments.
The $45 million round includes Shawn Mendes, the singer behind “Stitches,” who re-upped his investment in the five-year-old company where he already acts as brand ambassador. New investors include Curtis Chambers, one of Uber’s earliest employees; former MLB star Chase Utley and Malone, the singer behind “I fell apart.” Ruttenberg Gordon Investments, an investor in Postmates, Blue Apron and Snapchat, also contributed to the latest round.
The water is sourced from Ontario, Canada, and Seawright Springs in Virginia, where Flow is adding a night-shift to its facility due to surging demand.
“We feel incredibly grateful and fortunate that we could close this round right now,” Reichenback said.
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May 04, 2020 at 11:55PM
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Boxed water brand scores new celeb investors amid home delivery surge - New York Post
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