Premium meat snacks brand Stryve Biltong has raised $16.5 million in a Series B funding round led by Meaningful Partners, Pendyne Capital and Murano Group, adding to the $10 million it received in September 2018.
Owned by Stryve Foods, Stryve Biltong was formed in 2017 and produces a wide range of meat snack products, including biltong beef jerky products, chicken and turkey bites and beef and turkey sticks.
Stryve says it will use the new funding to further increase marketing investment to drive education, awareness and trial and will drive continued investment in talent and operations.
On the talent investment front, Stryve has added a number of industry veterans to its board and executive leadership team. Jaxie Alt, who spent 18 years at Dr Pepper Snapple Group, joined as CMO in March while Peter Rahal, founder of RX bar, has joined the board of directors.
Commenting on his appointment, Rahal said: “Stryve is at a really exciting place in its development, and I look forward to bringing my experiences in CPG to the table to help accelerate the brand’s growth.”
Stryve Biltong co-founder and chairman of the board Ted Casey added: “The past year has shown that there is a huge demand for clean protein snacks in the US, and we have assembled an experienced team of brand builders to help us shape the future of meat snacks and clean protein snacking with Stryve Biltong.
“We have an aligned strategy for growth and are rapidly moving to put all the pieces in place to achieve it.”
© FoodBev Media Ltd 2019
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