Oats Overnight Raises $35M in Series B Funding
Summary
The round was led by Enlightened Hospitality Investments (EHI) with participation from new investor Sonoma Brands Capital and from existing investors including Impatient Ventures, Singh Capital Partners, Morrison Seger Venture Capital Partners, and BFG Partners The company intends to use the funds for the expansion in the retail channel, further development of its manufacturing and distribution footprint, and for innovation in collaboration with its community of subscribers. This capital investment will continue to support the build-out of the company’s manufacturing, fulfillment, and product development capabilities. Led by Brian Tate, founder and CEO, Vincent Comerford, Chief Operating Officer, and Nina McKinney, Chief Strategy Officer, Oats Overnight is a high-protein oatmeal brand. After the survey results are reviewed, the team decides whether to launch the product, as well as what tweaks to make to the formula. To support iterative product development and its growth, Oats Overnight has made investments into its manufacturing facilities.