Total amount raised
$24 Million
Latest funding date
1/1/2024
Location
JuneShine has successfully secured funding through multiple rounds, attracting a diverse group of investors. The company is known for its innovative approach to producing alternative alcohol products like hard kombucha.
What Is JuneShine?
JuneShine, founded in 2018 in San Diego, California, is known for producing alternative alcohol products like hard kombucha. The company was established by Forrest Dein and Greg Serrao, who aimed to create a healthier alcoholic beverage option. JuneShine has grown significantly and now employs over 100 people, reflecting its rapid expansion and popularity.
How Much Funding Has JuneShine Raised?
- Seed Funding Round
- Amount Raised: Not disclosed
- Date: February 12, 2019
- Lead Investors: RXBAR co-founders, angel investors, private equity partners, and several athletes
- Valuation at Round: Not disclosed
- Motivation Behind the Round: The funding was aimed at acquiring brewing equipment and taking over Ballast Point’s Scripps Ranch facility to expand production capacity and scale up the business.
- Series A
- Amount Raised: Not publicly disclosed
- Date: June 2021
- Lead Investors: Celebrity investors including Diplo, Whitney Cummings, Cody Ko, Ashlyn Harris and Ali Krieger
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund growth capital, including marketing campaigns to reach new consumers.
- Series B
- Amount Raised: USD 24,000,000
- Date: November 2021
- Lead Investors: Amberstone Ventures and Litani Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch its first product beyond hard kombucha, expand marketing and sales staff, open tasting rooms outside San Diego and complete the San Diego facility expansion.
- Private Equity Round
- Amount Raised: Not publicly disclosed (reported as a seven-figure investment)
- Date: January 2024
- Lead Investors: InvestBev
- Valuation at Round: Not publicly disclosed
Total Amount Raised: $24 Million. Three rounds are excluded: the February 2019 seed, the June 2021 Series A and the January 2024 InvestBev investment were not disclosed.
Current Valuation: Not publicly disclosed
Key Investors
- InvestBev
- Details: InvestBev is a private equity firm that invests exclusively in the beverage alcohol industry. It made the seven-figure investment in JuneShine reported on 31 January 2024.
- Investment Focus Areas: Beverage alcohol brands and suppliers
- Notable Investments: Not publicly disclosed
- Amberstone Ventures
- Details: Amberstone Ventures is an early-stage consumer investor and a JuneShine seed round investor that returned to co-lead the $24 million Series B announced in November 2021. Partner Nick Mindel described JuneShine as 'one of those category-defining brands that doesn't come around very often'.
- Investment Focus Areas: Early-stage consumer brands, including better-for-you food and beverage
- Notable Investments: Not publicly disclosed
- Peter Rahal and Jared Smith (RXBAR co-founders)
- Details: Peter Rahal and Jared Smith are the co-founders of RXBAR, a popular protein bar company known for its simple, clean ingredients. They successfully sold RXBAR to Kellogg's for $600 million in 2017.
- Investment Focus Areas: Health and wellness, consumer goods.
- Notable Investments: RXBAR.
- Chris Hollod (Angel Investor)
- Details: Chris Hollod is an angel investor with a focus on early-stage companies. He has a background in venture capital and has been involved in numerous successful startups.
- Investment Focus Areas: Early-stage startups, consumer products.
- Notable Investments: Various early-stage consumer product companies.
- Nick Heldfond (Partner at Kinetic Capital)
- Details: Nick Heldfond is a partner at Kinetic Capital and an early investor in KeVita, a probiotic drink company. He has extensive experience in the beverage industry.
- Investment Focus Areas: Beverage industry, particularly probiotic and health-focused drinks.
- Notable Investments: KeVita probiotic drinks.
- Red Light Management (Artist Management Company)
- Details: Red Light Management is a prominent artist management company representing a diverse roster of musicians and entertainers. They have a strong presence in the entertainment industry.
- Investment Focus Areas: Talent management, entertainment industry.
- Notable Investments: Various artists and entertainment projects.
- Trail Post Ventures (Venture Capital Firm)
- Details: Trail Post Ventures is a venture capital firm that invests in disruptive consumer brands. They focus on companies that are innovating in their respective markets.
- Investment Focus Areas: Venture capital, disruptive consumer brands.
- Notable Investments: Disruptive consumer brands.
What's Next for JuneShine?
JuneShine acquired Ballast Point’s Scripps Ranch facility, stopped brewing there in March 2026 and listed the brewery for sale. Production moved to a third party, and the brand still sells packaged product in retail.
No new fundraising has been reported since the January 2024 InvestBev investment, and JuneShine closed its last two company-owned tasting rooms in August 2026. The company faces competition from larger beverage companies.
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