Sullivan secures funding in Series A follow-on growth round

Ireland’s Sullivan’s Brewing Company has secured funding in a Series A follow-on investment round.

In the funding round, led by investors from the US and Europe, the company raised more than $1.265m in proceeds.

The financing also includes €175k in further investment from an Irish governmental development agency Enterprise Ireland.

Sullivan’s USA CEO Michael Meade said: “With the closing of this financing, we bring additional capital resources that further strengthen our balance sheet as we pursue continued expansion across the US and abroad.

“This private placement represents another significant milestone for all of the company’s stakeholders and is a testament to the full team, inside and outside of the company, who were able to collaborate to help us get this accomplished amidst a currently challenging operating environment.”

The company will use the proceeds raised in the funding round for working capital, growth and sales purposes in the US and Europe.

Since its launch in Ireland in 2016, the company raised nearly $4.6m in funding.

Sullivan’s Brewing Company chairman John Brown said: “We spent a lot of time upfront working on our product, distribution partners, supply chain, operational controls, and digital investments so that we could be well-positioned for the future.

“Our business will continue to evolve by leveraging the experience and expertise of our team with the best industry practices, while never forgetting that Sullivan’s Brewing Company has a 318-year brewing history in Ireland that has thrived down through the centuries and has its eye on a future that is global in scope.”