Purely Elizabeth, a Boulder, CO-based company specializing in nutritious breakfast foods, closed a $50M Series B financing round.
The round was co-led by the new SEMCAP Food & Nutrition division, and joined by co-investors Swander Pace Capital and SEMCAP’s Partner, Fresh Del Monte.
The company intends to use the funds for continued growth through product innovation, e-commerce, and investment in marketing.
Founded by entrepreneur and holistic nutrition counselor Elizabeth Stein, Purely Elizabeth specializes in nutritious, nutrient-dense breakfast foods including granola, pancake & waffle mix, and oatmeal, which use innovative ingredients such as organic ancient grains, probiotics, and MCT oil. The company will expand its SKUs within their current line of certified gluten-free and vegan product offerings this year, including oatmeal, while also working on launching into a whole new category, to be announced at a later date.
Over the last five years, Purely Elizabeth has grown significantly with a 55% CAGR, solidifying the brand as a leader in the breakfast category and has nearly doubled its retailer doors in the last four years from 8,000 retailers in 2018 to 15,000 retailers in 2021.
FinSMEs
01/02/2022