Beyoncé Headlines Investors in $31M Fundraising for Lemon Perfect Enhanced Water
Lemon Perfect, a fast-rising hydrating lemon water brand in the enhanced water category, raised $31 million in Series A funding from an influential network of investors across food and beverage, media, music, sports and entertainment headlined by internationally celebrated award-winning artist and entrepreneur Beyoncé Knowles-Carter.
Lemon Perfect Founder and CEO Yanni Hufnagel says the company will use the funding to help scale the brand to more than 40,000 points of distribution by the end of 2022.
“Lemon Perfect is quickly taking significant market share from the leading brands in the enhanced water category by offering a better-for-you, better-tasting product that’s resonating broadly with the American consumer,” Hufnagel said. “We are honored and humbled that Beyoncé has become a part of the Lemon Perfect family. She is a worldwide icon whose talent, character, and positivity are unsurpassed. Her investment and the energy it sparks will accelerate Lemon Perfect’s rise toward its goal of becoming the number one brand in the multibillion-dollar enhanced water category by market share.”
“I don’t typically enjoy drinks without added sugar, but Lemon Perfect is delicious,” said Knowles-Carter. “It was an easy decision to invest in something that not only tastes great and is healthy, but also, and most importantly, allows choosing a healthier lifestyle to be affordable and accessible to everyone.”
In 2021, Lemon Perfect quadrupled revenue, and the company projects greater than 100% revenue growth in 2022.
“Lemon Perfect has found product-market fit in a hyper-competitive category, and we are thrilled to support their growth,” said Phillip Sarofim, Trousdale Ventures founder and CEO. “We believe they can disrupt an American beverage ecosystem still dominated by high-calorie, high-sugar options and democratize drinkable wellness.”
The financing brings Lemon Perfect’s total funding to $42.2 million and total valuation to over $100 million in fewer than three years from the company’s selling its first bottle.
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