The round was led by August Capital with participation from Sapphire Ventures, Accolade Partners, Founders Circle, Rembrandt Venture Partners, Vulcan Capital, Relevance Capital, Unilever Ventures, and Correlation Ventures. Sun Basket also recently raised $15M in debt financing from Trinity Capital Investment, bringing the total new funding to $57.8M. With the investment in Sun Basket, Tripp Jones, general partner of August Capital, has joined Sun Basket’s board of directors.
The company will use the funds to further advance its technology to provide customers with more choice and personalize their meals by leveraging their transaction data, dietary needs, and preferences.
Led by Adam Zbar, CEO and co-founder, Sun Basket provides a healthy meal kit service, delivering organic produce and sustainable ingredients with recipes weekly to customers.
The company, which hit $250m in annual revenue run rate (ARR) at the beginning of Q1 2018, delivers diet-specific meal plans personalized to its customers’ unique lifestyle needs. In order to continue to expand its business reach, it is adding Vegan, Mediterranean, and Pescatarian menu offerings and launching new, larger distribution centers on the East Coast and in the Midwest in Q1 2018 to reach 98% of the continental U.S.
FinSMEs
25/01/2018