Mar 28, 2022

Jax-based PS27’s mushroom coffee investment triples in value

Via Jacksonville Business Journal

By Julian Hast, Reporter

RYZE Superfoods was the second investment of Jacksonville-based venture capital firm PS27’s $20 million Rhea Fund, which put significant money behind the Boston-based e-commerce mushroom coffee start-up in June.

Since PS27 invested between $600,000 and $1 million, PS27 Founder Jim Stallings said, the company’s value has more than tripled.

With pre-seed capital from PS27, RYZE went on to secure $2.15 million in seed capital, an oversubscription, according to a PS27 announcement on Tuesday. With over 12,000 monthly subscribers, the company is on track to grow 300% this year, the announcement said.

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