Olympic fever hits private equity: Revvies Energy Strips raise enters home straight having surpassed initial goal
With just eight days remaining, Revvies Energy Strips is proud to confirm the oversubscription of their £150k crowdfunding round, demonstrating strong investor interest in the award-winning sports energy brand as Olympic fever continues to sweep the nation.
Delivering fast-acting caffeine dosages to boost both athletic and daily performance, Revvies Energy Strips is the caffeine delivery system used by some of the top names in international sports, including the UK’s No.1 marathon runner Charlotte Purdue and two-time Olympian Eloise Wellings, as well as New Zealand’s history-making team during the Tokyo Olympics.
The £150k raise is planned to provide a boost to the company in its goal to fund additional marketing, inventory and staff to accelerate their growth onto the British high street and power international expansion.
Launched in 2015 by husband-and-wife, John and Jacqui Nolan Neylan, Revvies Energy Strips was founded out of the desire for an instant energy supplement free of additives. The caffeine strips provide a viable alternative to existing drinks, gels and tablets that typically take 45-60 mins to reach their peak. As Revvies Energy Strips are dissolved on the tongue, the caffeine is quickly released into the mouth where it is absorbed across the mucosal barrier (walls of the cheeks) to provide an almost instant boost. The product is incredibly inclusive too, catering for vegan, gluten free, and keto friendly diets, as well as each strip accounting for less than two calories.
Having launched successfully in the UK in 2020, the premium market position places Revvies Energy Strips perfectly to take advantage of the booming global sports nutrition market, which is expected to reach £19.0 billion by 2025. The brand itself has seen incredibly strong performances in what has proven to be a turbulent year and a half for international business, selling over 400,000 packs, with revenue growth forecast to grow over 150% in 2021, following revenue growth of 101% in 2020, and 115% in 2019.
Revvies Energy Strips’ raise is seeking £150k for a 4.24% stake, with a pre money valuation of £3.6m. The funds will be used to help the business scale with approximately: 40% marketing; 30% personnel; and 30% inventory. The offer is EIS Qualifying with Revvies receiving Advanced Assurance, with the public raise having opened on Monday 19th July and due to close on Wednesday 25th August.
Immediate plans post-investment for the business will see Revvies Energy Strips continue to expand e-commerce activity in the United States and secure distribution partnerships in new markets, including most recently Hong Kong and Portugal.
John Nolan Neylan, co-founder of Revvies Energy Strips, discusses the raise and the future of the brand.
“Jacqui and I are really excited to be able to offer our customers and supporters the chance to share in our success by purchasing their piece of the company via our crowdfunding campaign with Seedrs. With our award-winning Revvies Energy Strips having sold over 400,000 packs in five countries, and regularly listing in Amazon’s top 10 bestseller list for endurance and energy, we feel now is the right time to put the foot on the accelerator and the funds from this round will allow us to do exactly that.”