OLEO, Inc. Closes $1.5 Million Funding Round
Leading CBD Drink Mix Company Pursues Aggressive Growth Strategy
SEATTLE, Wash., Aug. 20, 2019 (GLOBE NEWSWIRE) -- OLEO, Inc., creator of the leading CBD dietary supplement for fitness recovery has secured $1.5 million in funding aimed at accelerating the company’s expansion through product innovation, strategic new hires, and facility improvements. As the industry leader in the powdered CBD sports drink category, OLEO, Inc.’s new and existing network of investors are inspired to continue fueling the company’s growth through its offerings including OLEO™ drink mixes, OleoCBD™ ingredient supply, and Powered by OLEO™ partnerships.
A key element in OLEO, Inc.’s success in securing this new round of investment is that OLEO uses proprietary and patent-pending micro-encapsulation technology, which converts 100% THC-free, pure CBD into a water-soluble, taste-free powder known as OleoCBD™. Founded in Seattle in 2015, the company is a pioneer in cannabinoid encapsulation technology. The OleoCBD™ ingredient offers double the bioaccessibility in comparison to regular CBD. The micro-encapsulation process also removes the bitter hemp aftertaste associated with CBD, allowing OLEO to offer a variety of drink mixes that include Coconut Mix, three flavors of Rooibos Tea Mix, and Original Mix, a flavorless CBD boost. The company’s numerous Powered by OLEO™ partners also gain these product advantages through inclusion of OleoCBD™ in their respective product lines.
“We are thrilled to take this next big step by partnering with an amazing team of investors who are excited to help fuel our growth, driving CBD and OLEO™ into mainstream consumer packaged goods,” said Skyler Bissell, CEO and Co-Founder of OLEO, Inc. “Our investors, many of whom are based in OLEO’s home in the Pacific Northwest, are excited to invest in not only an emerging brand setting the industry standard for quality and taste, but also influence the CBD industry – the most rapidly growing consumer products segment in North America.”
Available in single-serving On-The-Go packets, or multi-serving jars, OLEO™ drink mixes combine the benefits of 25mg of OleoCBD™ per serving with the power of functional ingredients such as freeze-dried coconut water and real rooibos and black tea, available with or without caffeine to either Energize or Unwind. All of OLEO™'s drink mixes dissolve quickly in cold or hot water, making them easy to consume at any point throughout the day, helping support full body recovery after an active day. The entire product line not only offers consistent made-in-the-USA quality, but is also guaranteed to be 100% THC-free with zero intoxicating effects.
For more information on OLEO, Inc., OleoCBD™, and Powered by OLEO™, please visit OLEOlife.com
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About OLEO, Inc.
OLEO, Inc. is a consumer-packaged goods company thoughtfully designing potent, water-soluble CBD products for the active lifestyle community. OLEO offers a collection of powdered beverages infused with their active ingredient OleoCBD™, including a flavorless CBD powder called Original Mix. OleoCBD™ is created with a patent-pending Micro-Encapsulation technology that masks any bitter aftertaste and makes the CBD content two-times more bioaccessible, leading to better absorption and longer lasting effects. OLEO is playing a tremendous role in the advancement of cannabinoid technology, testing standards and consumer product offerings, and helping to make the cannabinoid and hemp industry more trusted, beneficial and approachable for all.
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Jackie Stoesser OLEO, Inc., HayterComm jackie@hayterpr.com
