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Venture Capital News: NatureBox Grabs $30M

SAN CARLOS, CA, NatureBox Inc., one of America's fastest growing food brands announces $30 million in Series C funding.
Today NatureBox Inc., one of America's fastest growing food brands announced $30 million in Series C funding. The round was led by Global Founders Capital and also included participation from new investors - Neuberger Berman Private Equity Funds, Kensington Capital Holdings, Valley Oak Investment Partners, John Foraker, and Neil Tolaney - along with continued support from existing investors - General Catalyst Partners, Canaan Partners, and Softbank Capital. This funding comes on the heels of the company's April 2014 $18 million Series B round, bringing NatureBox's total funding to nearly $60 million.

The Bay Area company's latest round of funding will be used to support its aggressive expansion plans as it prepares to bring its direct-to-consumer model to new categories, channels, and markets.

'This latest funding round will help further grow our leadership in the rapidly growing online snack space, and allow us to bring our brand to even more consumers through new retail channels, eating occasions, and market launches,' said Gautam Gupta, co-founder and chief executive officer, NatureBox. 'We always knew these opportunities were in our future, but now we can pursue them much faster thanks to the generous support of our investor partners. This Series C round brings us one step closer to our mission of bringing more transparency and personalization to the food shopping experience.'

NatureBox kicked off its expansion strategy last year, launching its subscription services in Canada after an outpouring of requests from hungry Canadian consumers and bringing its delicious, nutritionist-approved snacks to passengers onboard select American Airlines flights.

'I've seen firsthand the rising consumer demand for healthier, great-tasting, convenient products,' said John Foraker, president, Annie's Inc. 'But what really got me excited about NatureBox was its direct-to-consumer model, which allows the company to leverage consumer data to drive real-time product innovation and deliver meaningful personalization to its consumers.'

NatureBox is also heavily focused on expanding its community of brand advocates, announcing last month the appointment of Ray Elias as Chief Marketing Officer. Formerly, Elias served as CMO at StubHub and signed on to NatureBox to help the young company deliver an even richer consumer experience and build a globally beloved brand. Elias's appointment coincided with the launch of NatureBox's first-ever broadcast campaign, which brought its 30-second 'Snack Stories' spot to households across the country.

'We see NatureBox as a high-potential company that's already disrupting the food industry,' said Dan Jones, partner, Global Founders Capital. 'It's poised to further shake up the space as it expands its business into additional categories and new markets.'

Since NatureBox launched in 2012, the business has grown from a team of two to almost 100 strong. In addition to incoming CMO Ray Elias, the company has made several other recent, high-profile executive hires including Chief Financial Officer Carrie Kalinowski formerly of Silver S, Chief Supply Chain Officer Michael Thompson and Vice President of Brand Noriko Morimoto.

About NatureBox

Launched in 2012 by Co-Founders Gautam Gupta and Ken Chen - a duo recently recognized as Inc. Magazine's '30 Under 30 Best and Brightest Entrepreneurs' - NatureBox has quickly become one of America's fastest growing food brands. Fueled by its ability to build direct relationships with its customers, the Bay Area company leverages data to deliver a personalized experience and drive product innovation. Each month, NatureBox delivers nutritionist-approved snacks to its fast-growing community for just $19.95. NatureBox members can customize their experience, choosing from over 100 NatureBox-branded snacks using ingredient, flavor, and dietary filters. All NatureBox products are crafted with only the highest quality ingredients and are free of high fructose corn syrup, trans fats, artificial colors, artificial flavors, and artificial sweeteners. For more information on NatureBox, please visit, Facebook (@NatureBox), Twitter (@NatureBox) and Pinterest (@NatureBox).
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