CEO, A SHOC ENERGY, NEWPORT BEACH
Beverage firm making the next generation of energy drinks that are “charged by nature,” and which count numerous athletes as investors. Its products are currently available in about 80,000 retail locations across the U.S., including 7-Eleven, Walmart and Target.
THEN: Co-founded in 2019 by Scot De Lorme, who was vice president of innovation at Corona-based Monster Beverage Corp., which is currently valued around $45B and Lance Collins, who has founded several beverage brands, including BodyArmor, which was bought out a year ago by Coca-Cola Co. for $5.6B.
NOW: In April, firm raised $29M in a Series B funding round led by existing investors and prominent athletes. The company originally sought $18M, which it increased because of demand, Nadel said. “It’s the product and the market—it was much easier than I anticipated,” Nadel told the Business Journal. Keurig Dr Pepper, as well as Collins and 7-Ventures LLC, the venture arm of the 7-Eleven Inc. convenience store chain, made the Series A investment in A Shoc in 2019. Keurig Dr Pepper and 7-Ventures also participated in the latest $29M Series B.
FUTURE: The company has a master distribution agreement with Keurig Dr Pepper, giving it a national advantage when it started, Nadel says. Keurig also has an option to buy A Shoc. While not yet profitable, the company is growing ahead of competitors at this stage in their development, Nadel said. The company currently has 70 employees with plans to expand to as many as 90 this year. It contracts out the manufacturer of its drinks to facilities around the country.
IN THEIR WORDS: A Shoc markets its product as free of sugar and preservatives. “We thought it was a good time to come in with a 2020 version” of Monster and Red Bull.
