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§ Private Profile · Milford, CT, USA
Non-alcoholic craft beer company producing full-flavored, alcohol-free beverages for health-conscious consumers and athletes.
Athletic Brewing Company is a Milford, Connecticut-based beverage manufacturer that produces and distributes non-alcoholic craft beer designed for health-conscious consumers and active adults. The enterprise operates dedicated brewing facilities to supply its direct-to-consumer e-commerce subscription platform, retail grocery distribution networks, and wholesale bar and restaurant channels. As the largest non-alcoholic brewery in the United States, the organization currently controls over fifty percent of the domestic alcohol-free craft beer market and has driven twenty-three percent of overall category growth. The business reached an estimated $800 million valuation in 2024 after raising more than $220 million in total venture funding from notable backers including lead investor General Atlantic, strategic partner Keurig Dr Pepper, and former professional athlete J.J. Watt. Athletic Brewing Company was officially founded in 2017 by former hedge fund executive Bill Shufelt and award-winning craft brewer John Walker.
Athletic Brewing has raised $278.5M across 6 funding rounds.
Athletic Brewing has raised $278.5M in total across 6 funding rounds.
Athletic Brewing has raised $278.5M in total across 6 funding rounds.
Athletic Brewing's investors include Harrison DiGia, 040 Capital, General Atlantic, Blake Mycoskie, Keurig Dr Pepper, Alliance Consumer Growth, Infinite Niches, QED Investors, Science, Stride VC, Trust Fund, Vitalize Venture Group.
Athletic Brewing has raised $278.5M across 6 funding rounds. Most recently, it raised $50.0M Other Equity in July 2024.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jul 15, 2024 | $50M Venture Round | Harrison Digia | — | Announced |
| Jul 1, 2024 | $68M Series U | — | 040 Capital, General Atlantic, Blake Mycoskie | Announced |
| Nov 9, 2022 | $75M Venture Round | Keurig DR Pepper | — | Announced |
| Jul 6, 2021 | $50M Series C | Alliance Consumer Growth | — | Announced |
| Jan 25, 2021 | $17.5M Series B | — | — | Announced |
| Mar 1, 2020 | $18M 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 | Announced |
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].
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].
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.
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.
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.