The Ryl Company Closes $20 Million Series C to Accelerate Growth of Emerging "Modern Tea" Category
Led by Purchase Capital, the round fuels Ryl Tea's next chapter following 157% year-over-year growth, a multi-year licensing partnership with The Hershey Company, and the build-out of a national DSD footprint
The Ryl Company, parent company of fast-growing iced tea brand, Ryl Tea, today announced the close of a Series C growth equity round of $20 million, led by Purchase Capital through its Ryl Growth Partners SPV. The investment will support the company's next phase of growth, including continued retail and Direct Store Delivery (DSD) expansion, the build-out of its innovation pipeline, and team investments across operations, sales, and brand.
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The round comes as Ryl Tea has emerged as one of the fastest-growing brands in ready-to-drink tea, while the broader category enters what industry observers are beginning to call its "Modern Tea" moment; the next chapter of the better-for-you beverage movement that has already reshaped soda, energy, and hydration.
