Glass hydration, baby bottle and food storage company Lifefactory, Inc. has closed a Series C growth equity financing of $5 million. The round was led by Silas Capital, with a $4 million investment, and participation from all major shareholders: Greenhouse Capital Partners, dCapital, FOFM and Big Sky Partners, according to Lifefactory.
The latest round of financing comes as a result of the sustained expansion and performance of Lifefactory’s business, and will be used to further the brand’s growth. The company has increased revenue by over 750% in the last five years and has been profitable since 2012, according to the company. The capital will be used to expand the team, accelerate product development and build the brand, the company said.
Lifefactory’s products are made in the U.S. and E.U., and are available in over 3,000 retail locations and in more than 20 countries. Retail partners include Amazon, Bed Bath & Beyond and Whole Foods Market. Lifefactory’s glass water bottles have been bestsellers in Whole Foods Market, as well as in the broader natural and specialty channel, the company noted.
“We believe we have a significant opportunity to help our customers live healthier and happier lives,” said Roy Mabrey, CEO, Lifefactory, Inc. “We have expanded from an initial line of baby bottles to a full assortment of product for happy, healthy families and believe we can leverage our brand platform to continue to deliver dramatic growth globally,” he said.
In addition, Lifefactory announced that Carter Weiss, a managing partner of Silas Capital, will join the company’s board of directors. “The demand for healthy lifestyle brands, especially authentic ones like Lifefactory whose products are made from exceptionally high-quality materials, will continue to grow,” said Weiss.
“Lifefactory has great retail partnerships and strong patent protection for their innovations. They’ve also built a uniquely trusted brand with loyal and passionate customers. We are excited to be a partner to help them unlock their potential as a global brand,” added Weiss.