PATH Water emerged in 2014 when three friends noticed the prevalence of single-use plastic and the absence of a sustainable alternative for bottled water consumption. This moment ignited the concept behind PATH. Driven by a desire to enact change, they embarked on establishing a venture dedicated to diminishing the dependency on disposable plastic bottles. By 2015, they garnered investment support from likeminded individuals within their circle who shared the vision of combating the environmental impact of single-use plastic bottles. The fruition of their efforts culminated in 2016 with the inception of the first-ever reusable and recyclable aluminum bottled water hybrid, conceived and crafted in California.
Before partnering with Propeller, PATH Water’s journey was characterized by notable milestones and challenges. As PATH was experiencing continuous success, strategic meetings with the board of directors outlined a mission focused on achieving long-term and profitable growth, with the recognition of being the underdog in a competitive landscape. These early stages were crucial in shaping the company’s strategy and direction, setting the foundation for its subsequent collaboration with Propeller and the transformative growth that followed.
PATH Water has found dynamic value in the tailored services provided by Propeller as their needs have evolved over time. The relationship between PATH and Propeller started when a PATH board member, who had previously utilized Propeller’s services for other organizations in their investment portfolio, observed the significant success achieved. Impressed by these results, PATH stakeholders quickly recognized that Propeller could offer the critical accounting and financial guidance needed to support PATH, an early-stage hyper-growth company, in managing the challenges of rapid scaling. The partnership has since blossomed into a comprehensive collaboration that addresses various facets of their financial needs. While PATH Water boasts a robust internal finance and accounting team, they continue to rely on Propeller for specific functions such as trade spend management, cash application, and strategic networking. The expertise and dedication of the Propeller team, including CFO Dan Sorensen, have been pivotal in navigating critical financial ventures, including securing venture debt and providing invaluable support during key periods of transition within PATH Water.
This adaptable and collaborative approach to service provision has allowed Propeller to seamlessly integrate with PATH Water’s operations, contributing significantly to their ongoing success and growth trajectory.
Propeller has been a partner in growth as PATH nears a revenue run rate of:
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