Powerful, a Miami, FL-based food and beverage company, raised $4m in in Series B and ABL funding.
The Series B round was led by River Hollow Partners.
The company, which also secured asset-based lending (ABL) financing through a partnership with Gerber Finance, intends to use the funds to further support product development, manufacturing, and sales and marketing.
Launched in 2013 by Carlos Ramirez, CEO, Powerful makes all-natural, high-protein foods and beverages for active lifestyles. The current line includes: Powerful Yogurt, Powerful Drinks and Powerful Oatmeal, which are available at retailers such as Walmart, Target, Stop n’ Shop and Shoprite, as well as Amazon and the company’s website.
On its own website, Powerful offers a subscription model where customers can create a custom recurring product bundle at a discounted price.