Vodka soda RTD Sprinter Spirits reported it had secured over $4 million in new investment as part of a $12 million round it is currently raising, per a Securities and Exchange (SEC) Form D filed on Friday.
The brand, which is co-founded by celebrity Kylie Jenner, previously raised $12.7 million in May 2024, with venture capital firm K5 Global co-founders Bryan Baum and Michael Kives listed as board members with Jenner and her mother Kristin (Kris) Jenner.
In Sprinter’s recent SEC filing, CEO Jay Hunter and former MrBeast talent manager Reed Duchscher were also listed as board members.
Duscher’s investment arm, Night Ventures, has previously contributed to rounds for Feastables, Monte’s Fine Foods and Blox Snacks.
Staying ahead in the RTD cocktail race appears to take more than just the celebrity backing of high-impact influencers like Jenner. Competition is stiff among brands like Snoop Dogg & Dr. Dre’s Gin & Juice and actor Miles Teller’s The Long Drink.
While spirit-RTD growth peaked in 2020 with dollar sales growth up over 150% in NIQ-tracked off-premise channels (total U.S. xAOC plus liquor plus convenience), according to 3-Tier data tracking, the set has progressively slowed. Yet, between 2021 and 2024, sales nearly doubled from $1.53 billion to about $3.19 billion.
Early on, Sprinter tapped beverage developer Chandra Richter to lead product innovation at the brand. Richter formulated a line of flavored vodka sodas made with fruit juice and no added sugar.
Founded in March 2024, Sprinter launched with four SKUs — Black Cherry, Peach, Grapefruit and Lime — and had since doubled its portfolio, adding Pink Lemonade, Mango, Pineapple and Strawberry over the course of its first year.