Lyre Spririt Co raises $47 at $500m valuation

A huge milestone for Mark Livings, Carl Hartmann and their amazing team as today Lyre's Spirit Co has raised $37m - hitting  a $500m valuation, officially hitting "Soonicorn" status (as in - at their current rate of growth we'll be a unicorn... soon). 

The company - founded in 2019 have expanded into 60 countries, launched 20 multi award winning products and batted back every pandemic curveball imaginable. 

They are  well on our way to realizing our vision on changing how the world drinks, and very excited to the chapters to come! 🚀 🌙 🦄

No alcohol - no hangovers - the Drink for the health conscious ! 

It’s a hot space with glbal liquor giants such as Diageo, Pernod Richard and William Grant all pushing hard into the non-alcoholic spirits sector.

Annualised sales for Lyare approaching $100 million). Achieving a  compound growth of 450 per cent.

The Investors

The original backer was Greg Bundy, former global chief operating officer of Merrill Lynch Asset Management, who is now Lyre’s chairman. 

Other investors include 

•  D Squared Capital and 
• Morgan Creek Capital - backers of  Alibaba and Elon Musk’s space travel company SpaceX. 
• Luxembourg-based DLF Venture, 
• VRD Ventures and 
• Maropost Ventures.

The secret 

 1. being obsessive about customer service 

“Just being obsessive about customers, that can translate into loyal behaviour. Ultimately you can apply that to any business.” Says Carl Hartman 

2. having a fantastic co-founder to work with that you can rely on and trust

3. Have investors who believe in you and are prepared to back you 

What else?