Partake Foods Raises $11.5M For its Allergy-Friendly Cookie Brand That Makes the Perfect Snack – AlleyWatch
Summary
Partake Foods is a natural cookie brand that offers a full selection of delicious, gluten-free, vegan, non-GMO options that are free of the top nine most common allergens (wheat, tree nuts, peanuts, milk, eggs, soy, fish, sesame, and shellfish). Products can be purchased online direct-to-consumer through Partakes website and Amazon as well as purchased in 9000 brick-and-mortar retail locations that include Target, Whole Foods, Walmart, and Kroger.AlleyWatch caught up with Partake Foods Founder and CEO Denise Woodard to learn more about the business, the companys strategic plans, latest round of funding, which brings the total funding raised to $19M, and much, much moreWho were your investors and how much did you raise?New investors in this Series B round include Cleveland Aves CAST US fund, Fearless Fund, Supply Change Capital, Kaya Ventures along with returning investors Marcy Venture Partners, CircleUp Growth Partners, Black Star Fund, FF2032 (Lotus Bakeries venture arm), and Black Capital.Tell us about the product or service that Partake Foods offers.Partake Foods is a natural food brand offering allergy-friendly products including crunchy and soft-baked cookie flavors such as Chocolate Chip, Birthday Cake, and Ginger Snap, baking mixes, and a pancake & waffle line in Confetti and Classic flavors. All products are certified gluten-free, non-GMO, vegan, and free of the top 9 allergens (wheat, tree nuts, peanuts, milk, eggs, soy, fish, sesame, and shellfish). Our plan includes a continued focus on delivering high-quality products our customers love, clearly articulating our brand proposition and value, and ensuring we are maximizing our dollars along the way.What was the funding process like?The volatility of the market over the past 8 months has made raising funds unpredictable! Weve seen tremendous growth from a revenue and distribution perspective since launch, but weve also kept a focus on our social impact along the way particularly around increasing diversity in the food industry and fighting food insecurity.What are the milestones you plan to achieve in the next six months?We are launching a new key national retailer in Q1, announcing two brand partnerships that we are excited about, and launching within a new category, while expanding flavors in existing categories.What advice can you offer companies in New York that do not have a fresh injection of capital in the bank?Focus on whats working in the business and lean in there, work on improving unit economics and product margin.Where do you see the company going now over the near term?More stores, more products, more impact.