What's Happening?
The Ryl Co., the parent company of the ready-to-drink (RTD) tea brand Ryl Tea, has successfully raised $20 million in a Series C growth equity round. This funding round was led by Purchase Capital through its Ryl Growth Partners SPV. The capital will
be used to support the company's retail and direct-store delivery expansion, as well as to drive new product innovations and team growth. Notably, The Ryl Co. has recently entered a multi-year licensing partnership with The Hershey Co. to launch zero-sugar Jolly Rancher-inspired iced tea products. This funding follows previous rounds, including a $15 million Series B in 2025 and a $7.5 million Series A in 2024.
Why It's Important?
The infusion of $20 million into The Ryl Co. underscores the growing interest and investment in the RTD tea market, a segment that has become a staple in American households. The company's strategic partnership with The Hershey Co. to create innovative tea products highlights a trend towards healthier, sugar-free beverage options. This funding will enable The Ryl Co. to expand its market presence and potentially capture a larger share of the beverage industry. The investment also reflects confidence in the company's leadership and its ability to resonate with modern consumers seeking healthier beverage choices.
