Territory Foods, a Virginia (United States) based startup, announced on 13th April 2021 that it has raised US $ 22 million in its series B funding round. The round was led by US Venture Partners along with participation from Upfront Ventures, S2G Ventures, Rethink Capital Partners, Motley Fool Ventures, Lewis and Clark Ventures and more.
Investors: US Venture Partners is a California, United States, based venture capital firm that was founded in the year 1981. It is an early-stage investor that mostly invests in four main sectors: SaaS & cloud, security, healthcare and consumer IT. It has invested around US $ 3.9 billion in total in more than 500 hundred companies. Its portfolio includes companies such as Carlsmed, Altobeam, Edison, Prevoty and more.
Purpose of investment: The current round brings the total funds raised by Territory Foods to around US $ 44 million. The funds will help Territory Foods to grow its chef community and provide even more options for its customers.
About Territory Foods:
Territory Foods was founded in 2011 by Jeff Kelley, Josh Kriger, Patrick Smith and Robert Morton. It provides personalised and locally prepared healthy food.
Unlike other food delivery companies, its approach is driven by 4 main factors: it has a crew of nutrition advisors who come up with unique and advanced food and menus; it has a network of independent chefs with unique culinary skills; it uses nutritionally rich and non-inflammatory ingredients that support a variety of eating styles; and it offers a range of plans with options to select preferred meal size, ingredients, delivery plans and more.
Territory Foods has benefitted a lot from the pandemic driven shift towards at-home consumption. Its year on year sales has grown by 250% compared with the figures of 2020.
What the CEO has to say:
“We go to great lengths to create optimized, personalized meals for each consumer and empower our chefs with data about our customer’s taste and nutritional preferences so they can tailor each meal, ultimately providing more variety than other delivery options out there.”—Ellis Mccue, CEO of Territory Foods.
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