FRESHLY, the meal delivery company that ships healthy, ready-made meals to your doorstep each week, today announced the close of a Series A financing round of $7 million. This investment round was led by Highland Capital Partners and includes other investors White Star Capital and Jason Finger (co-founder of Seamless). BrandProject, which partnered with FRESHLY to launch the business, led the previous seed investments. As part of the funding Bob Davis, General Partner at Highland Capital, will join Andrew Black (CEO of BrandProject) on FRESHLY’s Board of Directors.
FRESHLY, launched in January 2015 by health-focused entrepreneurs Michael Wystrach and Carter Comstock, already serves nine western states, has shipped more than 200,000 meals in its first five months and is on pace to ship more than 1 million meals by the end of 2015. The capital provided by this investment round will fuel FRESHLY’s expansion throughout the United States, including state-of-the-art production and logistics facilities. The company plans to begin serving the east coast as soon as September of this year, enabling FRESHLY to ship to 80% of the country by year-end.
Michael Wystrach, co-founder of FRESHLY, stated:
“Since FRESHLY’s launch, the brand has quickly grown a very loyal and dedicated customer following. With the explosion of meal delivery services, we take pride in delivering delicious gourmet meals that use all-natural ingredients that are locally sourced as often as possible and free of gluten, artificial sweeteners, added sugars and hormones. At FRESHLY, we provide consumers with convenient, fresh, and healthy meals.”
The prepared-food delivery industry has boomed in the last year due to an ongoing evolution in the technology space coupled with a shift in consumer lifestyle and diet. With the undeniable proliferation of smartphones and apps offering convenience, availability and luxury at your fingertip, on-demand food delivery is on the rise, with companies looking to quickly grow and expand their offerings and availability.
Bob Davis, General Partner with Highland, added:
“Highland has long partnered with founding teams that build vertically integrated brands to disrupt the industries they serve. From their first days FRESHLY’s exceptional kitchens and proprietary packaging have propelled them into a market leading position for on-demand gourmet meals. With the recent relocation of the headquarters to New York and planned expansion of additional distribution centers, FRESHLY’s unique approach to convenient, fresh, and affordable meals will be available to millions of health conscious people at home and work.”
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