Photo Credit: Morgan Wallen and Blodin Ukella
Blodin Ukella and Morgan Wallen’s Ryl Company receives $15 million in Series B funding, marking $30 million in growth equity in total.
Created in 2022, Morgan Wallen and Blodin Ukella’s Ryl Company held a Series A funding round in 2024, netting $7.5 million. The new funds will help fast track the tea company’s expansion, marketing campaigns, and product creation.
The funding will also get Ryl Tea into over 40,000 stores by the end of the year, including major chains like Walmart, Kroger, Albertsons, Costco, Publix, HEB, Meijer, 7-Eleven, and more. Further, these investments will help Ryl expand its team to over 100 employees by year’s end; the company started with just nine employees when it launched in 2023.
“The Ryl Company is surging into an exciting phase of hyper-growth, and this capital raise will assist us in scaling to new heights, especially as we expand our retail presence and national distribution,” said Leigh Feuerstein, Chairman of the Ryl Company.
“Under the direction of Founder and CEO Blodin Ukella, the team’s deep connection with consumers has set the stage for great success. Blodin is a remarkable leader with a clear vision and indefatigable energy, and we’re backing him with unbridled confidence in his ability to fuel Ryl’s expansion.”
The Series B funding round included investments from Morgan Wallen, Get Engaged Media’s Cam Fordham, Alex Dermer, Ben Hiott, Austin Neal of Sticks Management, and Seth England of Big Loud Records.
“I’ve been a believer in Ryl Tea from the beginning and keep them stocked at home and while touring out on the road,” said Wallen. “It’s exciting to see the brand continue to expand and grow, and I’m proud to be a part of it.”
Ryl Tea’s leadership team has extensive experience in building and scaling beverage brands. Ukella, former Chief Strategy Officer at OWYN, which was acquired by The Simply Good Foods Company, is a former Data Scientist at Bai. He is joined by President Ken Kurtz, known for his leadership as former President of Bai, which was acquired by Dr Pepper Snapple Group, and is a former SVP of Fiji Water. Chief Operating Officer Ruben Rafaeli previously served as COO at Crook & Marker, and SVP of Operations at Bai.
“This round isn’t just a financial milestone — it’s a signal of confidence in our mission, our momentum, and our belief that Ryl Tea is on track to redefine what a modern beverage brand can be,” says Ukella. “We are in the ‘leap’ phase of our business journey — scaling rapidly with new distribution channels, exciting marketing initiatives and product development. This investment will help us expand our offerings and expand our distribution by 4x, all while maintaining the same level of quality and commitment to our customers’ health and well-being.”
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