Olly is a two-year-old, 30-person company that produces sweet vitamins delivered primarily in gummy form and packaged in eye-catching containers. The company began as an online subscription service but now derives roughly 3% of revenue from online sales, with the remainder coming from retail distribution through Target, CVS and GNC; Safeway, Kroger and Albertsons were slated to carry Olly before the end of the year. Olly launched 20 products last year (16 gummies, four soft gels), shifted to producing only gummies after soft gels underperformed, and reported 25 products with a plan for 35 by September. The company was profitable in its first year and reports continued positive cash flow, and management says it is trying not to raise additional funding. Its best-selling product is a sleep gummy (melatonin blended with L-theanine), about 80% of customers are women, and each dose contains two grams of sugar. Production is largely in Indiana with additional facilities in Florida, and the company planned to keep marketing digital and in-store in the short term while scaling up awareness efforts in 2017.

Total raised

$12M

Funding rounds

1

Latest round

Equity

Latest activity

Jun 2016