The no-sugar, no-carb beer brand, created by the comedic duo behind Inspired Unemployment, is looking to raise $20 million in hopes of becoming a mainstay in local pubs as Australians are keen to pour money into theirs to stick favorite drinks.
Better Beer launched in November 2021 with a shared vision of creating a healthier beer, by Jack Steele and Matt Ford-turned-comedians and Nick Cogger of Torquay Beverages, Better Beer’s Chief Executive. Since launching 15 months ago, it is now selling over 1 million liters per month, launched in New Zealand and is on track to reach $45 million in sales this fiscal year.
Cogger said the brand has begun to engage beer drinkers outside of Inspired Unemployment’s social media audience over the past 6 to 9 months.
“We think, that [Inspired Unemployed fans] have done a great job of converting their aunts and uncles and fathers and mothers and we believe we are just beginning to adopt more of that mainstream offering,” Cogger said.
“So in order for us to take the next step towards becoming one of Australia’s top brands, we need to spend a lot more money to convert a larger proportion of the population to Better Beer.”
The beer category has seen significant changes of late, which worries the boss at Coopers Brewery as millennial and Gen Z drinkers increasingly turn to no- or low-alcohol options. New brands like Heaps Normal are driving the trend and capitalizing on it, while traditional players like CUB and Heineken are expanding their non-alcoholic offerings.
Funds raised from Better Beer’s fundraising will go towards a marketing campaign via TV, radio and outdoor billboard advertising to increase brand awareness and bring Better Beer on tap to more local pubs and taverns.
“Fifteen, twenty years ago, beer advertising in Australia was world class… We believe there is an opportunity to revitalize great Australian beer advertising,” said Cogger.
https://www.smh.com.au/business/entrepreneurship/inspired-unemployed-backed-better-beer-brews-a-20m-capital-raising-20230313-p5cro1.html?ref=rss&utm_medium=rss&utm_source=rss_business Inspired by the unemployed, Better Beer is brewing a $20 million fundraiser