Athletic Brewing

Athletic Brewing is a technology company.

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Updated: Feb 17, 2026 ·

Recent News & Mentions

Jul 1, 2024FundingAthletic Brewing - Venture Round May 1, 2021FundingAthletic Brewing - Series C Mar 1, 2020FundingAthletic Brewing - Series B

Financial History

Athletic Brewing has raised $136.0M across 3 funding rounds. Most recently, it raised $68.0M Venture Round in July 2024.

Total Raised

$136.0M

Valuation

N/A

Funding Rounds Raised

Date	Round	Other Investors
Jul 1, 2024	$68.0M Venture Round	040 Capital, General Atlantic, Blake Mycoskie
May 1, 2021	$50.0M Series C	Infinite Niches, Science, Stride VC, Trust Fund, Biz Stone, Jake Strom, Jen Rubio Butterfield, Michael Ryan Dubin, Nick Green, Steve Aoki, Tony Hawk, Whitney Cummings
Mar 1, 2020	$18.0M Series B	040 Capital, Infinite Niches, QED Investors, Science, Stride VC, Trust Fund, Vitalize Venture Group, Biz Stone, Jake Strom, Jen Rubio Butterfield, Michael Ryan Dubin, Nick Green, Steve Aoki, Tony Hawk, Whitney Cummings

Financial History

Athletic Brewing has raised $136.0M across 3 funding rounds.

Total Raised

$136.0M

Valuation

N/A

Deep Dive

The premise of your query is incorrect: Athletic Brewing is not a technology company—it is a beverage manufacturer specializing in non-alcoholic craft beer[1].

High-Level Overview

Athletic Brewing Company is a U.S.-based brewer focused exclusively on non-alcoholic craft beer production. Founded in 2017 and based in Milford, Connecticut, the company has become the world's largest brewing company dedicated solely to non-alcoholic beer[1]. The company serves health-conscious consumers and athletes seeking flavorful beer alternatives without alcohol compromise. Athletic Brewing addresses a growing market demand for premium non-alcoholic beverages by combining craft brewing expertise with innovative brewing methods that preserve taste while eliminating alcohol content. The company has achieved significant market penetration, representing nearly half of all non-alcoholic craft beer sales in the US as of 2022[1].

Origin Story

Bill Shufelt and John Walker founded Athletic Brewing in 2017 after developing a proprietary brewing method that produces non-alcoholic beer without removing alcohol post-fermentation or adding other ingredients[1]. The founders established the first brewing facility dedicated exclusively to non-alcoholic beer in Stratford, Connecticut, which opened in May 2018[1]. The company launched commercially in 2018 with two flagship products—Run Wild IPA and Upside Dawn Golden Ale—initially selling in seven New England stores on a trial basis before expanding nationally and internationally[1]. This early focus on athletic events and health-conscious positioning helped differentiate the brand in a traditionally alcohol-focused industry.

Core Differentiators

Proprietary brewing method: Athletic uses an innovative brewing process that creates non-alcoholic beer without post-fermentation alcohol removal, preserving full flavor complexity[1]
Dedicated production infrastructure: The company operates multiple state-of-the-art facilities built specifically for non-alcoholic beer production, including a 150,000 square foot facility in Milford capable of producing 6 million cases annually[1]
Production capacity: By 2025, Athletic had achieved 1.2 million barrels of annual production capacity[1]
Product diversification: Beyond beer, the company manufactures sparkling water and hop water under the "Daypack" brand, launched in 2021 as alternatives to sugary beverages[1]
Market leadership: Athletic commands nearly half of the US non-alcoholic craft beer market as of 2022[1]

Role in the Broader Beverage Landscape

Athletic Brewing operates within the expanding non-alcoholic beverage category, riding a broader consumer trend toward health-conscious drinking, sober-curious lifestyles, and functional beverages. The timing has been favorable, as mainstream acceptance of non-alcoholic alternatives has grown significantly since the company's 2017 founding. Athletic's expansion from two initial products to a diverse portfolio reflects market validation and consumer demand for premium non-alcoholic options that don't sacrifice taste. The company's infrastructure investments—including acquisitions of Ballast Point facilities in San Diego (2020 and 2024) and the construction of large-scale production facilities—demonstrate confidence in sustained market growth and position Athletic as a category leader shaping consumer expectations for non-alcoholic beverages.

Quick Take & Future Outlook

Athletic Brewing has successfully positioned itself as the premium standard-bearer in non-alcoholic beer, moving the category from niche to mainstream. The company's continued facility expansion and production capacity increases suggest confidence in sustained demand growth. Future success will likely depend on maintaining flavor parity with traditional beer, expanding distribution internationally, and capitalizing on the broader wellness and sober-curious trends reshaping beverage consumption patterns among younger demographics.

Sources

Frequently Asked Questions

How much funding has Athletic Brewing raised?

Athletic Brewing has raised $136.0M in total across 3 funding rounds.

Who are Athletic Brewing's investors?

Athletic Brewing's investors include 040 Capital, General Atlantic, Blake Mycoskie, Infinite Niches, Science, Stride VC, Trust Fund, Biz Stone, Jake Strom, Jen Rubio Butterfield, Michael Ryan Dubin, Nick Green.