FreshRealm, a Ventura, CA-based provider of fresh meals for retailers nationwide, closed on a $200m capital raise.
The round was led by a global cornerstone institutional investor.
The company intends to use the funds to accelerate growth strategy within the meal industry.
Led by Founder and CEO Michael Lippold, FreshRealm partners with retailers to create fresh meals destinations that provide solutions to people with a busy and healthier consumer lifestyle. The company provides an end-to-end Fresh Meals retail solution: from product design, sourcing, commercialization, manufacturing, logistics, through marketing & promotion.
FreshRealm plans to:
- expand its operational facilities nationwide to address growing retailer demand for fresh meals, increase capabilities to deliver over 400 million meals to consumers nationwide.
- expand production to offer new and in-demand fresh meals offerings at additional retail channels, including convenience and club stores.
- utilize culinary team expertise and proprietary consumer data to deliver sophistication and customization in meal innovation development for retail customers and end consumers.
- pursue continuous improvement to the equipment, facility technology and production capacity to maximize and optimize efficiency within proprietary horizontally integrated operations model.
- expand and solidify the national network of ingredients with key current and new strategic partners to ensure supply chain security, building its service level.
- innovate to deliver new technology solutions to drive the transformation necessary to consistently manage the scale and complexity of meals and ingredients, across many customers and channels.
This recent capital raise comes just one year after the company raised $32 million to support its leading role in the category. The organization has expanded facilities, reinforced its strong leadership team of category experts, introduced a new product brand, developed a pipeline of fresh meals and new product innovation, and established fortified channels of distribution.