Raising Capital: Funding the Meal Kit Made For Success

Challenge

GrowthLab connected with the founder of a new company who had the vision to combine healthy meals with convenience and needed help raising capital. He had many pieces in place to get the business started. He reached out to GrowthLab to help him navigate turning his idea into a viable business. The biggest challenges facing the new company were raising capital, finding the right market, and having a plan in place to scale once the business gained traction.

Solution

The first step was to define their business strategy and revenue model. This included solving the product build, refining the pricing structure, and how the product was going to get made, in addition to determining a people strategy and financial and accounting management. Working with the CEO and COO, we collaboratively built a business model that translated their vision into a solid financial pro-forma to give them a foundation to raise capital. We then focused on raising capital: creating investor materials and seeking out the right people to invest in the company.

Once investors were secured, we helped them overcome the challenges of breaking into a market by navigating pricing structure and customer acquisition costs, as well as managing their investors. As they were able to find their market niche, we helped them develop a plan to scale their production strategy.

Results

Over the two years we partnered with the management team, they were successful in raising capital and the company is still growing today. They achieved a scale that can produce the product quantities that meet their customers growing demands and they have the right people in place to run smoothly. They now report $10MM+ in revenue and have over 20 employees.

We worked with them closely for two years until they had the scale and financial ability to hire their own internal executive management team. We absolutely loved our time with this company and were honored to be at the ground level with them.

Check out how GrowthLab has helped another Food & Beverage company!

This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice.