US-based food delivery service SnackNation has secured $12 million in Series B funding as it aims to grow its direct-to-consumer business.
The investment, which was led by 3L Capital, brings SnackNation’s total venture funding to $22.5 million.
Founded in 2014, the company curates and delivers snacks to companies for their employees. A similar curation also is available for home delivery. It also gathers data on snacking, consumption and other market research that helps fuel its product selection and rotation.
The firm claims to serve “hundreds of thousands of people” in offices and homes in all 50 US states. It has grown to over 150 employees since its founding three years ago and expects to experience continued growth as it extends its reach to additional distribution outlets.
SnackNation CEO Sean Kelly said: “At SnackNation, we’re creating a 21st century retailer by connecting today’s top emerging CPG brands with consumers during their most engaged moments.
“With retail shelf space shrinking and people spending less time in brick and mortar grocery stores, creating new brand-consumer access points – especially with better-for-you products – is essential.
“We are fired up to be working with 3L Capital to create a world where everyone has access to healthier snacks and drinks at work and at home.”
Dave Leyrer, founding partner at 3L Capital, added: “SnackNation is a smart marketplace and unquestionably the leader in providing better-for-you snacks to the workplace and home.
“Not only is SnackNation feeding the very best snacks to workers and consumers nationwide, but it’s also providing unparalleled market research for all players in the food and beverage industry, that’s going through unprecedented disruption.”
SnackNation stressed that the brands it sells must pass a rigorous vetting process that includes an ingredient review and tasting panel data, and they must adhere to an unacceptable ingredient protocol.
© FoodBev Media Ltd 2020