Refrigerated yogurt bar brand Clio Snacks has raised $8 million in a Series C funding round led by long-term investment partner Alliance Consumer Growth (ACG).
Founded in 2015 by Sergey Konchakovskiy, Clio offers on-the-go Greek yogurt bars wrapped in dark chocolate, in a variety of sweet and tart flavours.
Made with whole milk Greek yogurt, the brand’s offering is said to combine the benefits of high protein and probiotics with the convenience of a bar.
In addition to ACG, which first partnered with Clio in 2017, the brand’s latest funding round was backed by venture capital fund AF Ventures.
New Jersey-based Clio says that it has experienced year-on-year growth of over 100%. It has also reportedly inked expansion deals with retailers such as Whole Foods, Target and Wegmans, contributing to a 57% increase in distribution.
“Clio is at the forefront of the healthier snacking movement with its unique and creative snacking options,” said Julian Steinberg, co-founder and managing partner at ACG.
“The brand has found the perfect balance between indulgence and better-for-you consumption, which is evidenced by its impressive growth in terms of distribution and performance on-shelf. We are thrilled to support Clio’s continued growth and look forward to seeing the company evolve as a leader in the fresh snacking category.”
Jordan Gaspar, president and managing partner of AF Ventures, added: “Offering families a better-for-you, yet indulgent, convenient snacking solution in the now-present grab-and-stay consumption environment, our network of partners are uniquely qualified to support the expansion of Clio’s cold-chain footprint as we grow the company to be the independent leader in quality, refrigerated snacking.”
At the end of last year, Clio Snacks launched Clio Greek Yogurt Minis, described as “permissible treats that bridge the gap between yogurt and fresh snacking”.
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