Freshly Raises $77M in Funding

Freshly, a New York-based provider of Direct-to-Consumer (DTC) healthy prepared meals, raised $77m in funding.

The round was led by Nestlé USA. As part of the minority investment, Nestlé USA’s Food Division President Jeff Hamilton has joined Freshly’s board of directors.

The investment by Nestlé will help to fund Freshly’s construction of a new East Coast kitchen and distribution center in 2018, as it prepares to expand to nationwide service and support the company in sourcing, food preparation and food safety, packaging and distribution, and advertising and marketing.

Founded in 2015 and led by CEO Michael Wystrach, Freshly provides Direct-to-Consumer (DTC) healthy prepared meals, currently supplying consumers in 28 states with weekly shipments. The company’s website features a rotating menu that includes many gluten-free, paleo, high protein, low carb or veggie-based meals. Freshly’s subscription-based model offers various meal plans to consumers. Meals include Sicilian-Style Chicken Parm with Broccoli (with 50g Protein, 510 Calories and 17g Carbs), Steak Peppercorn with Sautéed Carrots and Asparagus (33g Protein,500 Calories, 30g Carbs) and Roasted Turkey with Quinoa Stuffing (41g Protein, 560 Calories, 33g Carbs).

With a 60,000 sq. ft. facility in Phoenix, the company currently can ship to approximately 40% of consumers. Upon completion of a new facility in Savage, Maryland, Nestlé estimates that Freshly will be able to serve about 93% of the U.S. population.

The company currently employs 400 people with plans to hire additional employees over the next 12 months.



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