Liquid Death is owned by Supplying Demand, Inc., the privately held company behind the canned-water brand, with founder Mike Cessario still running things as CEO. As of mid-2026, Liquid Death remains fully independent — no larger beverage company has acquired it.
The brand’s funding history shows a fast climb: a $1.6 million seed round in 2019, $9 million in Series A (February 2020), $23 million in Series B (September 2020), $75 million in Series C at a $525 million valuation (January 2022), and $70 million more later that year pushing the valuation to $700 million. Its most recent disclosed round, in March 2024, raised $67 million at a $1.4 billion valuation, backed by investors including SuRo Capital, Live Nation, Science Inc., and Gray’s Creek Capital Partners, alongside celebrity investors like Josh Brolin and DeAndre Hopkins.
Quick Facts
| Company | Supplying Demand, Inc. (dba Liquid Death) |
|---|---|
| Founder & CEO | Mike Cessario |
| Ownership Structure | Privately held; independent as of mid-2026 |
| Latest Valuation | $1.4 billion (March 2024 round) |
| Founded | 2019 |
| Notable Investors | SuRo Capital, Live Nation, Science Inc., Gray’s Creek Capital Partners |
Ownership History
| Year | Development |
|---|---|
| 2019 | Mike Cessario founds Liquid Death; raises $1.6 million seed round led by Science Inc. |
| 2020 | Company raises $9 million Series A (February) and $23 million Series B (September) |
| Jan 2022 | $75 million Series C round values the company at $525 million |
| Oct 2022 | Additional $70 million round pushes valuation to $700 million |
| March 2024 | $67 million raised at a $1.4 billion valuation, the most recent publicly disclosed figure |
| 2026 | Liquid Death remains independent and privately held, with Cessario continuing as founder and CEO |
Key Ownership Highlights
- Liquid Death’s valuation roughly tripled between its January 2022 and March 2024 funding rounds, reflecting explosive growth in a canned-water category most people assumed had little room for a breakout brand.
- The mix of institutional investors (SuRo Capital, Live Nation) and celebrity backers (Josh Brolin, DeAndre Hopkins) mirrors the brand’s marketing-forward, culture-driven growth strategy.
- Unlike many venture-backed beverage brands that get acquired once they reach scale, Liquid Death has stayed independent well past the point where a major beverage conglomerate acquisition might typically happen.
FAQ
Who owns Liquid Death?
Founder Mike Cessario continues to run Liquid Death as CEO. The company remains privately held and independent, backed by a mix of venture and celebrity investors.
How much is Liquid Death worth?
Its most recent publicly disclosed valuation, from a March 2024 funding round, was $1.4 billion.
