FoodMaven, a Colorado Springs, CO-based startup that offers a way to source food, raised an additional $10M in funding.
Backers included Tao Capital Partners and members of the Walton family. As part of this financing, Isaac Pritzker of Tao Capital Partners joined the board of directors as an observer along with a Walton family member and Rob Lewis (representing seed investors).
The company intends to use the funds for ongoing rapid growth, including purchasing complementary food businesses as it enters new markets.
Led by Patrick Bultema, Chairman, CEO and co-founder, FoodMaven creates new pathways for food lost in the system due to oversupply, cosmetic imperfection or local food without effective distribution channels. The company sells this food through an online marketplace to restaurants and institutions like universities and hotels and donates it to hunger-relief organizations.
FoodMaven recently announced the closing of Anderson Beef in Denver as part of this strategy and announced plans to enter Dallas as its next market early this year.