Dylan Jacob has found a partner to invest in BruMate.
The 25-year-old entrepreneur had been searching for the right investor to help continue to scale his Denver-based insulated drinkware business for the past seven months and landed on San Francisco Equity Partners, which paid $20 million to close the deal.
“We didn’t need the financial aspect,” Jacob said. “We just wanted to bring on a partner that we believe could get in line with our vision and act as guidance for me as I’m steering the ship because I don’t have business partners. The company is getting to a level that I felt it was important to have other eyes on the business.”
San Francisco Equity Partners announced the investment deal on Tuesday, and its members now sit on BruMate’s founding board.
![California firm invests $20M in Denver drinkware startup BruMate 2 brumate](https://businessden.com/wp-content/uploads/2020/08/brumate-300x200.jpg)
BruMate, which ranked No. 14 on Inc. 5000’s 2020 list, sells insulated can coolers, tumblers and drinkware for beer and wine.
“They wanted to have a certain percentage of ownership, so that translated into the $20 million investment amount — $3 million of that went into the company and the rest bought out my shares,” Jacob said.
Jacob had looked up to Moiz Ali, the founder of direct-to-consumer deodorant brand Native, who is also an operating partner with San Francisco Equity Partners, before he had received a bid from the private equity firm. He said he felt they understood the grit of an up-and-coming business like BruMate.
“I had a lot of conversations with older more established firms, and they just didn’t quite get it in the same way that I felt SFEP did,” Jacob said. “When you’re taking on equity you’re basically getting married, and I felt like this was a good relationship.”
Jacob founded BruMate in 2016 and has taken no outside investments up until now. BruMate is on track to surpass $100 million in sales in 2020 and was the top Colorado company on the Inc. 5000 list of fastest-growing private companies released last month.
The company, which sells insulated koozies for beer cans and wine, plans to move into its new 5,000-square-foot office at 2535 Larimer St. in RiNo in two weeks.
Dylan Jacob has found a partner to invest in BruMate.
The 25-year-old entrepreneur had been searching for the right investor to help continue to scale his Denver-based insulated drinkware business for the past seven months and landed on San Francisco Equity Partners, which paid $20 million to close the deal.
“We didn’t need the financial aspect,” Jacob said. “We just wanted to bring on a partner that we believe could get in line with our vision and act as guidance for me as I’m steering the ship because I don’t have business partners. The company is getting to a level that I felt it was important to have other eyes on the business.”
San Francisco Equity Partners announced the investment deal on Tuesday, and its members now sit on BruMate’s founding board.
![California firm invests $20M in Denver drinkware startup BruMate 2 brumate](https://businessden.com/wp-content/uploads/2020/08/brumate-300x200.jpg)
BruMate, which ranked No. 14 on Inc. 5000’s 2020 list, sells insulated can coolers, tumblers and drinkware for beer and wine.
“They wanted to have a certain percentage of ownership, so that translated into the $20 million investment amount — $3 million of that went into the company and the rest bought out my shares,” Jacob said.
Jacob had looked up to Moiz Ali, the founder of direct-to-consumer deodorant brand Native, who is also an operating partner with San Francisco Equity Partners, before he had received a bid from the private equity firm. He said he felt they understood the grit of an up-and-coming business like BruMate.
“I had a lot of conversations with older more established firms, and they just didn’t quite get it in the same way that I felt SFEP did,” Jacob said. “When you’re taking on equity you’re basically getting married, and I felt like this was a good relationship.”
Jacob founded BruMate in 2016 and has taken no outside investments up until now. BruMate is on track to surpass $100 million in sales in 2020 and was the top Colorado company on the Inc. 5000 list of fastest-growing private companies released last month.
The company, which sells insulated koozies for beer cans and wine, plans to move into its new 5,000-square-foot office at 2535 Larimer St. in RiNo in two weeks.
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