Daily Harvest, a NYC-based customer-first food platform, secured a Series D funding round, valuing the company at over $1 billion.
The round was led by Lone Pine Capital with existing company investors.
The company intends to use the funds to expand its business reach nationwide and invest further in data and technology to enhance customer personalization.
Founded by Rachel Drori, 39, Daily Harvest combines data science and a future-focused supply chain to create food and leverages its direct-to-farmer relationships as well as a technology platform to bring food to market in a rapid and personalized way. The company has a data-driven culinary portfolio, currently comprised of more than 100 items across 10 different collections.
A direct-to-consumer business, Daily Harvest will increase its footprint in 2022, allowing customers to purchase its food offline. In January, the company will open The Tasting Room in Chicago. Later, it will expand its efforts in regenerative agriculture, forming partnerships with American Farmland Trust, California Certified Organic Farmers (CCOF) and others.