Partake Foods raises $11.5 million with allergy-friendly cookie brand that makes the perfect snack

The US cookie market will exceed $11 billion in 2021. Working from home has increased the demand for cookies that are quick and easy to nourish. However, most of the market is focused on options that are not too healthy and high in sugar. is often found. Parttake Foods is a natural cookie brand offering a full range of delicious, gluten-free, vegan and non-GMO options free of the top 9 most common allergens (wheat, tree nuts, peanuts, milk, egg, soy, fish and sesame). . , and shellfish). Flavors include Ginger Snap, Birthday Cake, Chocolate Chip, Lemon, and Pumpkin Spice. Packages of cookies sell for $16.49 for 15 cookies. Each cookie has only 50 calories. In addition to cookies, the company also offers baking and breakfast mixes for pancakes and waffles.The products are available for direct-to-consumer purchase online through the Partake website and Amazon, as well as at Target, Whole Foods, Walmart, Also available at 9000 brick-and-mortar retailers, including Kroger.

alley watch Catch up with the Founder and CEO of Partake Foods Dennis Woodard To learn more about the business, the company’s strategic plans, the latest funding round that brings the total raised to $19 million, and more…

Who are your investors and how much did you raise?

New investors in this Series B round include: Cast US Fund of Cleveland Avenue, Fearless Fund, Supply Change Capital, Kaya Ventures with returning investors Marcy Venture Partners, CircleUp Growth Partners, Black Star Fund, FF2032 (the venture arm of Lotus Bakeries), and black capital.

What products or services does Partake Foods offer?

Partake Foods is a natural foods brand that offers allergy-friendly products including crunchy, 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). We use high-quality ingredients that are good for the body, and offer a variety of flavors that can be enjoyed by people with and without dietary restrictions.

What inspired you to start Partake Foods?

I started Partake in 2016 after my daughter Vivian was diagnosed with multiple food allergies. I’ve noticed that there aren’t enough delicious, high-quality, allergy-friendly snack options on the market.

How is Partake Foods different?

While there are many brands of healthy snacks on the market, Partake’s core mission is to provide people in need of delicious, allergy-friendly snacks, and that hasn’t changed since the brand was launched in 2016. . CPG Black- and Asian-American owned, female-led brands in the food and beverage industry. Partake Foods, Black Futures in Food & Beverage in the Food & Beverage program that guides HBCU students through annual fellowships and through our commitment to eradicating childhood food insecurity, we lift as we climb I am working on it.

What is Partake Foods’ target market and size?

Partake Foods appeals to health conscious consumers looking for great tasting products with wholesome ingredients, as well as consumers with food allergies (individuals or households). According to FARE, approximately 32 million Americans live with food allergies.

what is your business model?

From day one, we are a brick-and-mortar retail brand. Our products (cookies, breakfast mixes, baking mixes) are sold at his over 9,000 retail stores nationwide, our company’s website, and Amazon. Partake can be found on American Airlines and other travel destinations.

How are you preparing for a potential economic slowdown??

From 2016 to 2019, Partake was bootstrapped, so we had a silly idea from day one. Our plan includes a continued focus on delivering quality products that our customers love, articulating our brand proposition and values, and maximizing dollars in the process.

What was the fundraising process like?

Market volatility over the past eight months has made funding unpredictable. Nevertheless, we were able to deliver on our strategic intent for this round and are thrilled with our participating partners and the value they add to his Partake.

What was the biggest challenge you faced in raising capital?

Fundraising is our core business! Balancing funding and team leadership in an era of rapid company growth was the biggest challenge for this round.

What factors in your business are driving investors to write you checks?

I think investors were excited about Partake because of our mission and business traction. Since its launch, it has experienced tremendous growth in terms of revenue and distribution, but has also focused on the social impact along the way. In particular, it is about increasing diversity in the food industry and fighting food insecurity.

I think investors were excited about Partake because of our mission and business traction. Since its launch, it has experienced tremendous growth in terms of revenue and distribution, but has also focused on the social impact along the way. In particular, it is about increasing diversity in the food industry and fighting food insecurity.

What milestones do you plan to achieve in the next six months?

We will launch a new major national retailer in the first quarter, announce two brand partnerships, expand flavors in existing categories and launch in new categories.

What advice can you give to New York companies that haven’t injected fresh capital into their banks?

We will focus and focus on what is doing well in the business and work on improving unit economics and product margins.

Where do you see the company going now in the near future?

More stores, more products, more impact. In 2023, we will see Partake increase sales in new retailers and new channels and launch additional products. We will continue to prioritize our social impact efforts aimed at increasing diversity in the food industry and eradicating childhood food insecurity.

What is your favorite restaurant in the city? ZouZous, ilili, Lucali are too many to name just one.

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