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Once Upon a Farm Closes $20 Million in Series B Funding Led by CAVU Venture PartnersOnce Upon a Farm, which provides organic, cold-pressed baby food, applesauce and smoothies, announced today the closing of a $20 million Series B financing round. This investment was led by CAVU Venture Partners, the consumer-focused investment firm founded by consumer product veterans known for building iconic brands, along with several existing investors. CAVU's co-founder and managing partner Brett Thomas, along with Jared Jacobs, will join the company's board. This round of funding will support the company's explosive growth in retail and product innovation. "From day one, our investors have all been tremendous partners for our brand," said John Foraker, CEO and Co-Founder of Once Upon a Farm. "Due to their generous support and this round led by CAVU, Once Upon a Farm has been able to maintain incredible momentum to create a new Fresh Baby category and build a company that is committed to driving social impact for families." Since John Foraker and Jennifer Garner joined the company last September, Once Upon a Farm has achieved historic growth, expanding from 300 retail locations to more than 8,500. Key retail partners include Target (News - Alert), Whole Foods, Kroger, Publix and Walmart among others. The company will continue placing product in the dairy set where it's seen great success this past year, but will also expand its footprint into the baby ailse with in-line coolers. In addition to retail expansion, the company recently announced a new line of baby food cups, specifically designed for spoon-feeding occasions, that will be in stores early next year. "I am proud of the innovative business that we have built. It is incredibly exciting to see so many families embracing our products," says company co-founder Jennifer Garner. "This latest round of funding allows us to continue to help busy parents give their children the most nutritious foods possible and make life a little bit easier for families across the country." "The baby food category has lacked real product innovation for quite some time," said CAVU Ventures managing partner Brett Thomas. "We're thrilled to partner with John, Jen and the rest of the Once Upon a Farm team to disrupt and lead in this space." Also participating in this round were S2G Ventures, Beechwood Capital and other Series A investors. The Series A round was led by Cambridge SPG in 2017. About Once Upon a Farm Headquartered in Berkeley, California, Once Upon a Farm was founded with the dream of providing yummy and nutritious "farm-to-family" food to children of all ages. The company currently offers lines of baby food, applesauce and smoothies that are cold-pressed (HPP) to better lock in nutrients, taste and color compared to shelf-stable alternatives. Once Upon a Farm is B-Corp certified and committed to nurturing our children, each other, and the earth in order to pass on a healthier and happier world to the next generation. For more information, please visit www.onceuponafarmorganics.com. About CAVU Venture Partners CAVU Venture Partners invests in high growth, iconic consumer brands. CAVU was founded by consumer products veterans and serial entrepreneurs Rohan Oza, Clayton Christopher, and Brett Thomas. CAVU (Ceiling and Visibility Unlimited) is a pilot term for the best possible flying conditions. Using their deep brand-building and operational expertise, CAVU's partners seek to create the best possible conditions to enable their talented, passionate entrepreneurs to achieve their dreams. Brands include Bai, Health-Ade, One Bar, Bulletproof, Kite Hill, Hippeas and Vital Proteins. For more information, please visit www.cavuventures.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20181009005699/en/ |
