Rebbl, which makes coconut milk-based drinks with herbs and plants, is raising $20 million in funding led by Cavu Venture Partners, the brand said ahead of a formal announcement Friday.

Rebbl says it has $20 million to $50 million in annual sales and expects to be growing at a rate of 70 percent by the end of the year. The new fundraising values it at close to $100 million.

The company is led by Sheryl O’Loughlin, former CEO of Clif Bar and Plum Organics baby food, and co-founded by Palo Hawken and David Batstone.

The drink uses “super-herbs” and “adaptagens,” which Rebbl claims have benefits including a decrease in stress hormones. It makes elixirs like its Matcha Latte and cold-brew coffees with protein that promise to provide energy.

That puts them into a new generation of drinks that call themselves “functional,” often low or no-sugar beverages that purport to nourish better than the previous class of sugary or caffeine-fueled sports drinks. Among them is a rush of new kombucha drink brands or drinks like coconut-water infused BodyArmor that say they have more vitamins and fewer artificial ingredients than their predecessors.

Amid this uprising,¬†PepsiCo’s¬†Gatorade, which created the sports drink category and long dominated it, has ceded market share.

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