Lightspeed leads $3.7 mln Series A for Hungryroot

Hungryroot, a maker of vegetable-based convenience foods, raised $3.7 million in a Series A financing round led by Lightspeed Venture Partners. Lerer Hippeau Ventures, Crosslink Capital, KarpReilly Investments and Great Oaks Venture Partners also participated in the round. Hungryroot has received a total of $6 million in funding to date.

PRESS RELEASE

New York, NY (March 1, 2016)— Hungryroot, a manufacturer of fresh, vegetable-based convenience foods sold direct to consumer at www.hungryroot.com, announced today that it has completed a $3.7 million Series A financing round. The financing was led by Lightspeed Venture Partners and includes participation from Lerer Hippeau Ventures, Crosslink Capital, KarpReilly Investments and Great Oaks Venture Partners. Hungryroot has received a total of $6 million in funding to date.

Hungryroot will use the funds to accelerate its rapid growth in the United States, expand into grocery distribution, launch new product categories, and grow its team. Hungryroot has built a unique brand of fresh, vegetable-based convenience foods spanning meals, sides, desserts, spreads and breakfast items. The company uses raw vegetables instead of processed flour to create craveable noodle dishes, chickpeas instead of eggs and butter to create gooey cookie dough, and vitamin-rich cauliflower instead of rice to deliver a feel good couscous.

“As the first investors in The Honest Company, we saw firsthand that people today want healthier options in home and baby,” said Jeremy Liew of Lightspeed Venture Partners. “The same is true in packaged foods, and Hungryroot has really captured that desire. They are building a powerful brand with a line of fresh, healthy meals and treats sold direct-to-consumer. My family and I tried the food ourselves, and we were hooked!”

“By building our business direct to consumer, Hungryroot can offer fresh options in a category historically defined by frozen and chemically preserved foods,” said founder and CEO, Ben McKean, who previously founded Savored, a restaurant technology business that Groupon acquired in 2012. “With Hungryroot, our goal is to positively brighten customers’ daily lives through delicious, nutritious eating, and we feel that we can now do so in ways that were previously not possible.”

About Hungryroot
Hungryroot is a manufacturer of fresh, all natural convenience foods. The company offers a product line of 7-minute meals, sides, sweets, spreads and breakfast items on its website, www.hungryroot.com, as well as on FreshDirect and Amazon Fresh. All of the company’s products are vegetable-based, gluten-free and under 500 calories. The company was founded by serial entrepreneurs Ben McKean (Savored), Franklin Becker (The Little Beet, Top Chef Masters) and Greg Struck (Long Island Iced Tea Brands).

For more information, or to place an order, please visit www.hungryroot.com.