The Ryl Company, the maker of ready-to-drink iced tea, has secured $20m in new funding.
The New Jersey-based company raised the capital through a Series C equity round, led by investment firm Purchase Capital.
In a statement, the group, which produces RTD tea brand Ryl Tea, said the capital will support its “next phase of growth”.
This will include expansion in retail and direct store delivery (DSD), as well as growing the group's “innovation pipeline", and investing in operational, sales, and brand teams, it added.
Nicholas J. Singer, the founder and managing partner of Purchase Capital, said: “Modern Tea is one of the most compelling categories in the beverage industry, and Ryl is exceptionally well positioned to lead it."
The latest raise follows a Series B funding round last year, where The Ryl Co. raised $15m to support nationwide expansion for its Ryl Tea brand. At that point, it brought its total sum raised to date to $30m.
In April, the business also secured a liscensing tie-up with The Hershey Company to launch a range of sugar-free Jolly Rancher-flavoured Ryl iced teas.
Commenting on the fundraise, Leigh Feuerstein, the co-chairman of The Ryl Company, said: "The work our team has done to earn the trust of retailers, build out our DSD network, and partner with companies like The Hershey Company has positioned us well for the next phase of growth. We have a meaningful innovation pipeline coming in Q1 2027 that we're excited to share when the time is right - and we're approaching this next chapter with the same focus that got us here."
The Ryl Tea range includes iced teas in peach, lemon, and green tea flavours, plus an "Iced Tea with Benefits" line, which includes flavours like watermelon and raspberry.
Its range is positioned as a zero-sugar beverage option, containing fewer than five calories per can.
The group's products are available across the US. At the time of its previous raise, the company told Just Drinks it was weighing new markets for potential entry.
“We are still evaluating potential avenues,” it said. “However, it’s all focused on better-for-you-focused markets, Canada being a strong option in the short term.”
Just Drinks has asked the group to confirm if it has plans to enter any non-US markets.
