What is Growve?
Founded in 2006 and based in St. Petersburg, FL, Growve operates as a strategic acquirer and operator of world-class brands across diverse consumer sectors including supplement & active nutrition, recreation, sports & outdoor, beauty & personal care, healthy lifestyle foods, pet care, and home & leisure. The company's core value proposition lies in its in-house expertise, which spans marketplace management, digital marketing, creative services, innovation, distribution, retail sales, manufacturing, supply chain management, regulatory affairs, and accounting. This integrated operational capability allows Growve to drive significant growth for the brands under its umbrella.
How much funding has Growve raised?
Growve has raised a total of $380M across 2 funding rounds:
Debt
$175M
Debt
$205M
Debt (2021): $175M with participation from Atlantic Capital Bank, Seaside Bank, First Horizon Bank, Truist Bank, Synovus Financial, Compeer Financial, JPMorgan Chase, SouthState Bank, HSBC Bank USA, and Wells Fargo
Debt (2022): $205M led by Wells Fargo, Truist, and Bank of America
Key Investors in Growve
Wells Fargo
Wells Fargo is a leading U.S. financial services firm providing banking, lending, investment, and mortgage solutions. Known for its extensive branch network and diverse product offerings, the company maintains a significant market presence while navigating regulatory and reputational challenges in the evolving financial sector.
Truist
Truist Financial is the sixth largest bank holding company in the United States, formed through the merger of SunTrust and BB&T. The company provides comprehensive banking, investment, and insurance services to individuals and businesses across high-growth markets.
Bank of America
Bank of America, founded in 1874 and headquartered in Charlotte, is a global financial institution providing comprehensive banking and financial services. The company operates through four key segments: Consumer Banking, Global Wealth & Investment Management, Global Banking, and Global Markets.
What's next for Growve?
The substantial enterprise-level debt financing indicates Growve is in a phase of aggressive scaling and operational consolidation. This capital infusion is likely earmarked for further strategic acquisitions, enhancing existing brand performance through operational efficiencies, and potentially expanding into new market segments or geographies. The company's focus on in-house expertise suggests a strategy aimed at maximizing profitability and market share for its acquired brands, positioning it for sustained growth in the competitive e-commerce and consumer goods landscape.
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