August 1, 2018

Bulletproof 360, maker of science-based, high-performance foods and beverages, and the name behind Bulletproof Coffee which mixes single-origin Rainforest Alliance Certified black coffee with grass-fed butter, announced it has raised $40 million in equity and debt financing led by CAVU Venture Partners. Other participants in the funding include Trinity Ventures, an early investor in Starbucks and Jamba Juice, and Silicon Valley Bank.

This Series C comes little more than a year after CAVU led a $19 million Series B for the company in May 2017, which  also included Trinity Ventures.

Founded in 2013 by bestselling author and self-proclaimed biohacker Dave Asprey, Bulletproof 360 develops food and beverages from a platform of science-based information that can provide consumers with techniques, tools, increased focus, and the enhanced energy for a better life.

“Since inception, Bulletproof’s performance-based approach has had an enormous impact on the health and wellness industry,” said Dan Scholnick, general partner at Trinity Ventures in May of last year.

From his experiences spending 20 years and more than $1 million “to hack his own biology”, Asprey developed a lifestyle brand that includes a coffee that the company states is free of mycotoxins – a mold that can cause serious illness when ingested – something that Asprey claims 75 percent of the coffee brands on the market contain.

Tech Crunch noted last year that while coffee producers are well aware of the presence of mycotoxins (which are also found in grain, meat, and other foods and are only harmful at significantly high levels, according to the National Institutes of Health), they employ a special wet processing technique to eliminate the mold. Asprey counters however, that this process is insufficient compared to his company’s proprietary technique.

Asprey has since gone on to author books and launch an influential podcast with more than 75  million downloads.

“We’re always looking for disruptive products that fundamentally change the way people eat, drink and feel,” said Rohan Oza, founding partner, CAVU Ventures. “Bulletproof is a master brand pioneering science-based food and beverages that taste great and are the ultimate power fuel for the mind and body. Led by the success of their ready-to-drink coffees, collagen protein bars and Bulletproof Cafes, we believe they’re poised to be the Millennial Starbucks.”

Team News

The news of the funding is also accompanied by news of teams shifts for Bulletproof. Anna Collins, COO of the company, has been promoted to the role of president. She brings the experience from being a transformational pioneer and leader at some of the world’s top companies including Microsoft, Amazon, Johnson & Johnson, and CVS, and in her new role will lead growth strategy, operations, and a multi-channel expansion for Bulletproof.

Additionally, Jeff Hull, a senior executive at Amazon Prime, has joined Bulletproof as senior vice president of Strategy and Analytics. Hull comes with more than 20 years of experience in consumer related products including eight years in senior roles with Amazon. Combining his deep dedication to wellness and his experience in business development, financial planning, and analysis, Hull is a welcome addition to the Bulletproof team.

“I’m delighted to welcome Jeff, an innovative leader who learned how to delight customers and scale businesses exponentially through his years at Amazon,” said Asprey.

Plans

The capital raised through this Series C brings the total funds raised by Bulletproof to $68 million. This latest round will be used by the company to fund its “omni-channel growth plans”.

“This round of funding is to expand Bulletproof’s better-for-you products to help people gain long-lasting energy, eliminate cravings and boost cognitive performance,” said Asprey. “I am grateful to deepen Bulletproof’s partnership with the pioneering investors at CAVU, Trinity Ventures and Silicon Valley Bank,”

“The all-star team leading the company is absolutely crushing it across their market segments,” said Dan Scholnick, general partner, Trinity Ventures.  “We’ve supported them from the very beginning and to fuel this next chapter of their growth through one of the largest investments in Trinity Ventures’ 30-year history thrills us.”

-Lynda Kiernan