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Athletic Brewing Secures $50 Million in General Atlantic-Led Equity Financing, Valued at $800 Million

Jul 9, 2024, 01:30 PM

Athletic Brewing, the largest nonalcoholic beer brand in the U.S., has closed a $50 million equity financing round led by General Atlantic with participation from multiple existing investors. This round values the six-year-old company at approximately $800 million, nearly double its valuation from two years ago. Founded in 2017, Athletic Brewing has quickly risen to become a top-20 U.S. brewery and the number one nonalcoholic beer in U.S. grocery stores. The company, which is backed by notable investors such as JJ Watt and Lance Armstrong, achieved over $90 million in sales in 2023. The booming business of booze-less beer and the growing trend of young adults in the U.S. reexamining their relationship with alcohol have significantly contributed to the brand's rapid growth and increased valuation.