Crowdfunding on accredited investor platform CircleUp, SmartyPants Vitamins has announced they have raised $2.59 million on a convertible note from both current and new investors.
SmartyPants, a leader in nutrient dense gummy supplements, has experienced dramatic growth with total sales increasing 1,000 percent since their launch in the fall of 2010. The new funding will enable them to accelerate their marketplace growth strategy, expand their trade marketing support and hire key executives.
“Partnering with CircleUp gave us access to an incredible community of value-added investors who will help us position to capture greater market share,” said Courtney Nichols Gould, Co-CEO and Co-Founder of SmartyPants. “They saved us valuable time by managing the process for us and gave us access to investors who might not have crossed our paths but have strategic importance to us.”
One such investor is Chinese and could be of service as the company examines key expansion opportunities abroad.
“I see tremendous potential in supporting a company like SmartyPants that delivers a high quality, healthy product to customers and has a compelling combination of large market opportunity, a unique formula within the supplement industry and healthy financial performance,” said Lei Dei, one of SmartyPants angel investors.
“I am incredibly impressed with the SmartyPants team. Their excellent product supported by their vision and ability to execute has been driving absolutely stellar revenue growth,” said Melissa Kasper Shapiro, another SmartyPants angel investor. “This is one of the most promising companies I have seen in the last several years of consumer investing and I’m extremely excited to support their expansion.”
Founded by a group of parents, entrepreneurs and health care practitioners, SmartyPants has combined a full multivitamin, Omega 3 DHA & EPA and over 100% RDI of Vitamin D in a tasty gummy that addresses a core hurdle to good health: compliance. Vitamins only work if taken consistently in the right forms at the right times and this combination of variables have made them less useful than they could be. SmartyPants’ goal is to change that by making products that are highly nutrient dense in one serving and very tasty despite being an excellent source of Omega 3 from eco friendly anchovy & sardines. Free of artificial flavors, colors and preservatives, SmartyPants is made in California and uses organic and natural sweeteners – no high fructose corn syrup here – and is always gluten and casein free.
“With a wealth of experience, talent and outstanding growth, SmartyPants fits the trend of high quality, healthy brands in which investors and consumers are interested,” said Ryan Caldbeck, Founder and CEO of CircleUp. “We are excited about the opportunity to have SmartyPants join our community and look forward to helping them scale more quickly.”
CircleUp is a crowdfunding platform for accredited investors targeting the consumer and retail segment of industry. The company founded in 2011 the company lists Clayton Christensen’s Rose Park Advisors as one of their investors.
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